Singapore awards grants to developers, launches $15m fund

Quantum Commodity Intelligence - Singapore has formally confirmed a grant to back three carbon project developers after announcing a partnership to launch a new $15 million carbon fund.

The Singapore Economic Development Board (EDB), a government agency responsible for strategies that help in sustainable economic growth, announced at an event on Monday support for developers 3Degrees, Climate Bridge International and The Nature Conservancy through its Carbon Project Development Grant.

"These organisations bring extensive global experience in developing carbon projects, and they will put these experiences in work in early-stage feasibility studies," said Jermaine Loy, EDB managing director, at an event organised by GenZero, a unit of Singapore's wealth fund, on the sidelines of Ecosperity Week 2025.

The grant is designed to support the companies with early development work on carbon projects that align with Article 6 of the Paris Agreement.

Singapore is one of the earliest buyers of Article 6 credits worldwide, but has so far struggled to source sizeable volumes from developers.

The EDB has also partnered with TT Foundation Advisors (TTFA), the philanthropy advisory arm of Temasek Trust, to launch a 'donor-advised fund' (DAF) that will mobilise capital under the Carbon Project Development Grant initiative.

"The DAF provides private capital owners with a trusted, structured pathway to co-fund high-quality carbon projects alongside EDB and follow-on financing throughout their lifecycle," said Temasek Trust in a statement.

To date, a major pool commitment of SGD20 million ($15.48 million) has been secured to co-fund the development of "high-quality" carbon projects, and several others are in discussions with EDB and TTFA, added Temasek.

Tan Chin Hwee, chairman of Climate Bridge International, said the grant will "help to advance Climate Bridge International's vision and execution model".

Climate Bridge International, is a partnership between Climate Bridge Group — one of China's largest independent carbon project developers — and climate finance professionals Alvin Lim and Tan Chin Hwee.

Lim was the former head of Asia environmental products at investment bank Morgan Stanley while Tan was the former Asia-Pacific CEO at Trafigura.