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Singapore launches SPIRE Asia to fund agri-food climate resilience in Southeast Asia
The programme, with a blended finance fund targeting up to US$500 million, aims to turn climate adaptation projects into investable opportunities for the region.
What happened
Singapore launched the SPIRE Asia Programme, short for Scaling Projects and Investments for Resilience in Asia, to mobilise investment into the climate resilience of Southeast Asia's agri-food systems. National Climate Change Secretariat+1 The programme includes a blended finance fund that will seek to mobilise investments of up to US$500 million. National Climate Change Secretariat Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations Grace Fu announced the programme at the 31st Conference of the Parties to the UN Framework Convention on Climate Change. National Climate Change Secretariat SPIRE Asia will bring together data, project development and financing capabilities to help translate climate resilience needs into investible projects. National Climate Change Secretariat The launch took place on November 10 at the Singapore Pavilion during COP31 in Antalya, Turkey. Yahoo News
Around it
South-east Asia is a major producer of the world's rice and other agricultural products, but climate change is threatening crop yields. Yahoo News Adaptation projects, such as planting climate-resilient varieties, often struggle to attract financing because they are too small, too early in development, or lack the data investors require. Yahoo News The annual summit runs from November 9 to 20 and brings together governments from close to 200 countries. Yahoo News
Sources
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