Antalya, Türkiye, 10 November 2026 – Singapore launched the SPIRE Asia Programme (Scaling Projects and Investments for Resilience in Asia) today, a new initiative 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 investments of up to US$500 million. 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 (COP31) to the United Nations Framework Convention on Climate Change (UNFCCC). SPIRE Asia will bring together data, project development and financing capabilities to help translate climate resilience needs into investible projects and unlock capital for the region.

2. Climate change poses growing risks to Southeast Asia's agri-food sector, as rising temperatures, changing rainfall patterns and extreme weather events disrupt agricultural production, livelihoods, and food supply chains across the region. Yet, investment in climate adaptation has not kept pace. Many promising projects struggle to attract financing because they are often too small, at too early a stage of development, or lack the data needed to meet investors' requirements.

3. Jointly developed by the National Climate Change Secretariat (NCCS), Monetary Authority of Singapore (MAS) and Enterprise Singapore (EnterpriseSG), SPIRE Asia seeks to address these challenges through the following three mutually reinforcing pillars:

1. Data Platform: The Data Platform will bring together climate, agricultural and investment data to identify climate risks and adaptation opportunities, inform project development and investment decisions, and measure resilience outcomes. A key part of this effort is the Solutions Centre for Regional Smallholder Farmers (SCS), which Singapore is establishing with ecosystem partners. The SCS will develop a data insights platform to better understand the pressing challenges facing the region and help investors, researchers, project developers and solution providers develop and scale climate-resilient solutions.
2. Market Development Facility: The Market Development Facility will work with partners to identify, develop and aggregate promising agri-food adaptation opportunities into investment-ready projects. It will bring together technical expertise and project development support to help projects meet investors' requirements, and connect them with potential investors, buyers and implementation partners.
3. Blended Finance Fund: The Blended Finance Fund, with a target size of up to US$500 million, will focus on financing regional climate adaptation investments across the agri-food value chain. It will use catalytic capital to address specific investment risks and improve the risk-return profile for commercial investors, helping to mobilise commercial capital for projects and businesses that might otherwise struggle to secure financing at the scale or on the terms needed.

4. Together, these pillars will unlock and scale investment in climate adaptation. The Data Platform and Market Development Facility will also support the wider ecosystem to identify and develop adaptation opportunities beyond those financed by the Fund.

5. The Singapore Government is initiating the programme, in partnership with Temasek Trust, the philanthropic arm of Temasek Holdings. Temasek Trust will lead the development of the Market Development Facility, working with regional and global partners to identify promising agri-food adaptation projects to be supported by SPIRE Asia. EnterpriseSG will lead the development of the Data Platform, supported by Temasek Trust.  The three pillars of Spire Asia will be co-ordinated by a Steering Committee comprising NCCS, MAS, EnterpriseSG and Temasek Trust, and chaired by Singapore’s Ambassador for Climate Action Ravi Menon.

6. Through its integrated approach, SPIRE Asia aims to serve as a pathfinder for mobilising and scaling private-sector investment in climate adaptation across the region. It will also create opportunities for Singapore-based financial institutions, investors and agri-tech solution providers to participate in regional adaptation investments and scale their solutions.

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