The Singapore Economic Development Board and TT Foundation Advisors, the philanthropy arm of Temasek Trust, have launched a donor-advised fund to channel private capital into high-quality carbon projects, the partners said on Monday.
The new fund, managed by TTFA, will co-finance projects that generate Article 6-compliant carbon credits, augmenting EDB’s existing Carbon Project Development Grant.
It seeks to address financing gaps in early-stage carbon initiatives, particularly those at the feasibility stage, by providing family offices and foundations with a structured avenue to support climate solutions.
“Our partnership with EDB provides family offices with a trusted platform to support climate solutions,” said Dickson Lim, head of TT Foundation Advisors. “This reflects our commitment to building collaborative platforms that unlock private capital for good.”
Tapping Private Capital for Early-Stage Climate Action
The fund is part of Singapore’s broader strategy to develop a robust carbon market ecosystem by mobilizing public, private and philanthropic capital.
It is designed with flexibility in mind, allowing family offices to contribute from their own DAFs and support projects aligned with shared environmental and social impact goals.
The fund has secured a S$20 million ($14.8 million) commitment, with additional family offices reportedly in talks to participate.
“We are excited to see strong momentum and interest growing from project developers and private capital owners,” said Lim Wey-Len, executive vice president at EDB. “Our partnership with TTFA will enable promising carbon projects to receive the support they need through their lifecycle and bring us closer to our climate goals.”
The initiative supports co-funding of feasibility studies, financing for validated projects, and demand partnerships to boost project viability across Southeast Asia and beyond.
Singapore has positioned itself as a regional hub for voluntary carbon markets and continues to explore innovative mechanisms to scale decarbonization through international cooperation under Article 6 of the Paris Agreement.
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