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Singapore launches SPIRE Asia programme to boost agri-food climate resilience

The blended finance initiative seeks up to US$500 million to fund climate-resilient agri-food projects in Southeast Asia, a potential source of investment for firms in the sector.

Photo: Cyrill, Pexels

What happened

Singapore launched the SPIRE Asia Programme, short for Scaling Projects and Investments for Resilience in Asia, at the 31st Conference of the Parties to the UN Framework Convention on Climate Change in Antalya, Türkiye. mas.gov.sg The programme aims to mobilise investment to strengthen the climate resilience of Southeast Asia's agri-food systems, including through a blended finance fund that will seek to mobilise up to US$500 million. mas.gov.sg Minister for Sustainability and the Environment Grace Fu announced the programme. mas.gov.sg SPIRE Asia will bring together data, project development and financing capabilities to help turn climate resilience needs into investible projects. mas.gov.sg

Around it

The programme responds to growing climate risks to Southeast Asia's agri-food sector, where rising temperatures, changing rainfall patterns and extreme weather events disrupt agricultural production and livelihoods. mas.gov.sg At the launch of the COP31 Singapore Pavilion the same day, Ambassador for Climate Action Ravi Menon highlighted Singapore's efforts to mobilise climate finance, strengthen climate resilience and develop high-integrity carbon markets. National Climate Change Secretariat Menon said global momentum for climate action has become more uneven, citing geopolitical tensions disrupting trade, investment and energy flows and shrinking fiscal space for governments. National Climate Change Secretariat

Sources

  1. mas.gov.sgSingapore Launches SPIRE Asia Programme to Strengthen Climate Resilience in Southeast Asia's Agri-Food Sector
  2. National Climate Change SecretariatOpening Remarks by Singapore's Ambassador for Climate Action at Launch of COP31 Singapore Pavilion

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