“The Green Finance Framework augments the University’s existing work to carry out cross-disciplinary research for a better and more sustainable future for Singapore and the world. The Framework facilitates collaborations between academia and industry to translate research into solutions for real-world problems.”
– Professor Tan Eng Chye, NUS President
As an extension of NUS’ commitment towards its Sustainability and Climate Action Plan 2030, the University launched a framework on sustainability-linked finance in April 2020. NUS’ Green Finance Framework provides the overarching criteria and guidelines for it to enter into green finance transactions, such as green bonds and loans.
Proceeds from the green finance transactions will be used to fund a strong pipeline of eligible projects with clear environmental benefits. The green projects defined in the Framework are aligned to five focus areas:
- Green buildings or precincts;
- Renewable energy and energy efficiency infrastructure;
- Sustainable water and wastewater management;
- Pollution prevention and control; and
- Sustainable management of natural resources and land use.
In 2020 and 2021, NUS raised S$600 million in total from the issuance of its first and second green bonds. This was followed by the issuance of its third green bond in 2023, which brought the total raised to date to S$940 million.
The proceeds were used to fund or re-finance green projects such as SDE4, Singapore’s first new-build net-zero energy building, the state-of-the-art multi-tenanted Wet Science research building, the incorporation of sustainable features in buildings, and the installation of solar photovoltaic (PV) systems on the rooftops of campus buildings.