diff --git a/docs/site/Binding.md b/docs/site/Binding.md
index ef337ee089dd..62e31cd471bb 100644
--- a/docs/site/Binding.md
+++ b/docs/site/Binding.md
@@ -533,19 +533,39 @@ A binding can emit `changed` events upon changes triggered by methods such as
 The binding listener function signature is described as:
 
 ```ts
+/**
+ * Information for a binding event
+ */
+export type BindingEvent = {
+  /**
+   * Event type
+   */
+  type: string;
+  /**
+   * Source binding that emits the event
+   */
+  binding: Readonly<Binding<unknown>>;
+  /**
+   * Operation that triggers the event
+   */
+  operation: string;
+};
+
 /**
  * Event listeners for binding events
  */
 export type BindingEventListener = (
-  binding: Binding<unknown>,
-  event: string,
+  /**
+   * Binding event
+   */
+  event: BindingEvent,
 ) => void;
 ```
 
 Now we can register a binding listener to be triggered when tags are changed:
 
 ```ts
-const bindingListener: BindingEventListener = (binding, event) => {
+const bindingListener: BindingEventListener = ({binding, operation}) => {
   if (event === 'tag') {
     console.log('Binding tags for %s %j', binding.key, binding.tagMap);
   }
diff --git a/packages/context/src/__tests__/unit/binding.unit.ts b/packages/context/src/__tests__/unit/binding.unit.ts
index dba55e710d65..ce6ae02e4a85 100644
--- a/packages/context/src/__tests__/unit/binding.unit.ts
+++ b/packages/context/src/__tests__/unit/binding.unit.ts
@@ -6,6 +6,7 @@
 import {expect, sinon, SinonSpy} from '@loopback/testlab';
 import {
   Binding,
+  BindingEvent,
   BindingScope,
   BindingType,
   Context,
@@ -80,12 +81,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.tag('t1');
-      expect(events).to.eql([{binding, op: 'tag'}]);
+      assertEvents(events, 'tag');
     });
   });
 
@@ -110,12 +108,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.inScope(BindingScope.TRANSIENT);
-      expect(events).to.eql([{binding, op: 'scope'}]);
+      assertEvents(events, 'scope');
     });
   });
 
@@ -144,12 +139,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.to('value');
-      expect(events).to.eql([{binding, op: 'value'}]);
+      assertEvents(events, 'value');
     });
 
     it('rejects promise values', () => {
@@ -179,12 +171,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.toDynamicValue(() => Promise.resolve('hello'));
-      expect(events).to.eql([{binding, op: 'value'}]);
+      assertEvents(events, 'value');
     });
   });
 
@@ -198,12 +187,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.toClass(MyService);
-      expect(events).to.eql([{binding, op: 'value'}]);
+      assertEvents(events, 'value');
     });
   });
 
@@ -242,12 +228,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.toProvider(MyProvider);
-      expect(events).to.eql([{binding, op: 'value'}]);
+      assertEvents(events, 'value');
     });
   });
 
@@ -316,12 +299,9 @@ describe('Binding', () => {
     });
 
     it('triggers changed event', () => {
-      const events: unknown[] = [];
-      binding.on('changed', (b, op) => {
-        events.push({binding: b, op});
-      });
+      const events = listenOnBinding();
       binding.toAlias('parent.options#child');
-      expect(events).to.eql([{binding, op: 'value'}]);
+      assertEvents(events, 'value');
     });
   });
 
@@ -455,6 +435,18 @@ describe('Binding', () => {
     binding = new Binding(key);
   }
 
+  function listenOnBinding() {
+    const events: BindingEvent[] = [];
+    binding.on('changed', (event: BindingEvent) => {
+      events.push(event);
+    });
+    return events;
+  }
+
+  function assertEvents(events: BindingEvent[], operation: string) {
+    expect(events).to.eql([{binding, operation, type: 'changed'}]);
+  }
+
   class MyProvider implements Provider<string> {
     constructor(@inject('msg') private _msg: string) {}
     value(): string {
diff --git a/packages/context/src/binding.ts b/packages/context/src/binding.ts
index cfe5f37d8ae6..4671849feddd 100644
--- a/packages/context/src/binding.ts
+++ b/packages/context/src/binding.ts
@@ -140,12 +140,32 @@ export type BindingTag = TagMap | string;
  */
 export type BindingTemplate<T = unknown> = (binding: Binding<T>) => void;
 
+/**
+ * Information for a binding event
+ */
+export type BindingEvent = {
+  /**
+   * Event type
+   */
+  type: string;
+  /**
+   * Source binding that emits the event
+   */
+  binding: Readonly<Binding<unknown>>;
+  /**
+   * Operation that triggers the event
+   */
+  operation: string;
+};
+
 /**
  * Event listeners for binding events
  */
 export type BindingEventListener = (
-  binding: Binding<unknown>,
-  event: string,
+  /**
+   * Binding event
+   */
+  event: BindingEvent,
 ) => void;
 
 type ValueGetter<T> = (
@@ -334,6 +354,15 @@ export class Binding<T = BoundValue> extends EventEmitter {
     return this;
   }
 
+  /**
+   * Emit a `changed` event
+   * @param operation - Operation that makes changes
+   */
+  private emitChangedEvent(operation: string) {
+    const event: BindingEvent = {binding: this, operation, type: 'changed'};
+    this.emit('changed', event);
+  }
+
   /**
    * Tag the binding with names or name/value objects. A tag has a name and
    * an optional value. If not supplied, the tag name is used as the value.
@@ -372,7 +401,7 @@ export class Binding<T = BoundValue> extends EventEmitter {
         Object.assign(this.tagMap, t);
       }
     }
-    this.emit('changed', this, 'tag');
+    this.emitChangedEvent('tag');
     return this;
   }
 
@@ -390,7 +419,7 @@ export class Binding<T = BoundValue> extends EventEmitter {
   inScope(scope: BindingScope): this {
     if (this._scope !== scope) this._clearCache();
     this._scope = scope;
-    this.emit('changed', this, 'scope');
+    this.emitChangedEvent('scope');
     return this;
   }
 
@@ -421,7 +450,7 @@ export class Binding<T = BoundValue> extends EventEmitter {
       }
       return getValue(ctx, options);
     };
-    this.emit('changed', this, 'value');
+    this.emitChangedEvent('value');
   }
 
   /**