Image: Ecosperity Week 2025

In a strategic effort to reduce investment risks and catalyze clean energy deployment, the Singaporean government has committed USD 500 million through a blended finance model to support industrial decarbonization and sustainable energy development across Asia.

This initiative is part of the Financing Asia’s Transition Partnership (FAST-P), Singapore’s flagship transition finance program launched in 2023. The goal: mobilize public and private capital to fast-track Asia’s shift toward net-zero.

Speaking at Ecosperity Week on May 7, Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), reaffirmed the country's commitment to climate finance and outlined the next phase for FAST-P. With a 1:1 matching structure, the program aims to crowd in private investment and scale up to USD 5 billion in total capital.

FAST-P will focus on three priority areas:

1. Accelerating the shift from fossil fuels to clean energy

2. Driving green investment across infrastructure and industries

3. Decarbonizing hard-to-abate sectors such as cement and steel

The first wave of funding will concentrate on green investments, particularly in renewable energy, storage, electric mobility, sustainable transport, and waste and water management.

A dedicated FAST-P office is expected to be launched in the coming months to drive implementation and partnerships.

This move reinforces Singapore’s position as a leading hub for sustainable finance and its commitment to enabling a just and inclusive energy transition across Asia.