The Australian Government has approved a US$50 million investment into the Green Investments partnership (GIP) under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative. The investment will support clean energy transition and sustainable infrastructure development across Southeast Asia.

At the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change, Ms Grace Fu, Minister for Sustainability and the Environment, announced that the Singapore Government has committed up to US$500 million in concessional funding to support the Financing Asia’s Transition Partnership (FAST-P) launched by the Monetary Authority of Singapore (MAS) last year.

BlackRock, MAS, IFC, MUFG, NEXI, and AIA have signed an SOI at the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change to explore ways to work together on a blended finance debt initiative for global investors seeking opportunities to finance corporates’ decarbonisation projects at scale in Asia with a focus on Southeast Asia.

AI and quantum technology will take centre stage at the Singapore FinTech Festival (SFF) 2024, underscoring their transformative potential for the financial sector. SFF 2024 will also highlight global and regional efforts on decarbonisation, scaling up the use of digital assets, achieving cross-border payment efficiency and advancing financial inclusion.

At the SuperReturn Asia Conference 2024, Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman, MAS spoke about how private markets can participate in and contribute to Asia's growth by supporting local firms, enabling green transition, and boosting the digital economy.