- Singapore and Temasek Trust have launched the SPIRE Asia Programme at COP31 to strengthen climate resilience across Southeast Asia’s agri-food system.
- The initiative aims to mobilise up to US$500 million to develop investment-ready projects that address climate risks and adaptation needs.
- SPIRE Asia will focus on three pillars: a Data Platform, a Market Development Facility and a Blended Finance Fund.
- The programme aims to address financing barriers that prevent promising climate adaptation projects from attracting investment.
- Priority areas include climate-resilient agriculture, irrigation, water management, cold storage and stronger agri-food supply chains.
Singapore has launched the SPIRE Asia Programme (Scaling Projects and Investments for Resilience in Asia) at COP31 to mobilise investment in climate resilience across Southeast Asia’s agri-food system. Announced by Grace Fu, Singapore’s Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, the initiative brings together government institutions, investors and project developers to turn climate adaptation needs into investable opportunities. Jointly initiated by the Singapore government and Temasek Trust, the programme aims to mobilise up to US$500 million to support projects that strengthen regional food systems against growing climate risks.
Southeast Asia’s agri-food sector faces increasing pressure from extreme weather events, rising temperatures and changing rainfall patterns. These challenges threaten agricultural productivity and food security while exposing weaknesses across supply chains. Limited irrigation infrastructure, inadequate water management, insufficient cold-storage capacity and fragmented distribution networks can further increase vulnerability. Soil degradation, biodiversity loss and competition for land and water resources add to these pressures. Despite the growing need for adaptation, many projects struggle to secure investment because they are too small, remain at an early stage of development or lack the data required by investors.
SPIRE Asia aims to address these barriers through three complementary pillars. The first, a Data Platform, will be developed by Enterprise Singapore (EnterpriseSG), with support from Temasek Trust. It will combine climate, agricultural and investment data to identify risks, highlight adaptation opportunities, support project development and measure resilience outcomes. The initiative also includes the Solutions Centre for Regional Smallholder Farmers, which will develop data insights to help investors, researchers, project developers and solution providers better understand farmers’ challenges and scale climate-resilient solutions.
The second pillar, the Market Development Facility, will be developed by Temasek Trust to identify and develop promising agri-food adaptation opportunities. It will help aggregate projects, provide technical and project development support, and connect investment-ready opportunities with potential investors, buyers and partners. By strengthening project preparation, the facility aims to help businesses and initiatives meet investor requirements and overcome barriers that often prevent adaptation projects from progressing beyond the early stages.
The third pillar, the Blended Finance Fund, has a funding target of US$500 million. It will use catalytic capital to address specific investment risks and improve the risk-return profile for commercial investors. This approach is intended to attract private capital into projects and businesses that might otherwise struggle to secure sufficient financing on suitable terms. Together, the three pillars are designed to connect climate risk data, project development expertise and financing capabilities, helping translate adaptation priorities into projects that can attract investment and deliver measurable resilience benefits.
The programme will be coordinated by a Steering Committee comprising Singapore’s National Climate Change Secretariat (NCCS), Monetary Authority of Singapore (MAS), EnterpriseSG and Temasek Trust, chaired by Singapore’s Ambassador for Climate Action, Ravi Menon. By strengthening investment pathways for climate adaptation, SPIRE Asia aims to support more resilient agricultural production, improve agri-food supply chains and contribute to long-term productivity, competitiveness and environmental sustainability across Southeast Asia.
For businesses, SPIRE Asia highlights the growing importance of integrating climate resilience into supply chain planning, agricultural sourcing and investment decisions. Cognitud helps organisations understand climate-related risks, identify sustainability priorities and integrate environmental considerations into business strategy and supply chain decision-making. Through a structured approach to sustainability and climate risk, Cognitud supports businesses in building resilience and preparing for evolving environmental and market challenges.
