Singapore commits US$500m to boost Asia’s green and transition projects

The government will also examine strategies for advancing carbon markets.

Singapore has pledged up to US$500m to support green and transition initiatives in Asia.

The concessional funding will be leveraged to draw in commercial capital and other financial sources to aid Asia’s green transition.

"As a financial hub, Singapore is doubling our efforts to mobilise financing to support the global climate action," said Grace Fu, minister for Sustainability and the Environment and minister-in-charge of Trade Relations, at the COP29 Singapore Pavilion launch.

In addition to the funding, Fu said Singapore has scheduled in-depth discussions with industry experts to examine strategies for advancing carbon markets and implementing Article 6.