Quantum Commodity Intelligence – Singapore has formally confirmed a grant to back three carbon project developers after announcing a partnership to launch a new $15 million fund, a government agency announced at an event Monday.
The Singapore Economic Development Board (EDB), an agency in charge of developing the country’s economic infrastructure in a range of sectors, has announced support for developers 3Degrees, Climate Bridge International and The Nature Conservancy through its Carbon Project Development Grant.
The grant is designed to support companies at the early stages of developing carbon credit projects that align with Article 6 of the Paris Agreement.
“These organisations bring extensive global experience in developing carbon projects, and they will put these experiences in work in early-stage feasibility studies,” said Jermaine Loy, managing director of the Singapore Economic Development Board.
Loy made the comments at an event organised by Gen Zero on the sidelines of Ecosperity Week 2025.
The EDB has also partnered with TT Foundation Advisors (TTFA), the philanthropy advisory arm of Temasek Trust, to launch a donor-advised fund (DAF) that will mobilise capital under the EDB’s Carbon Project Development Grant.
“The DAF provides private capital owners with a trusted, structured pathway to co-fund high-quality carbon projects alongside EDB and follow-on financing throughout their lifecycle,” said a press update by the Temasek Trust.
To date, a major commitment of S$20 million ($15.48 million) has been secured to co-fund the development of “high-quality” carbon projects, and several other family offices are in discussions with EDB and TTFA, added Temasek.
“This grant will help to advance Climate Bridge International’s vision and execution model. Singapore has built a robust carbon market and established key international partnerships, making it the ideal launchpad for scaling global climate impact,” said Tan Chin Hwee, chairman of Climate Bridge International.
The EDB is the lead government agency under Singapore’s Ministry of Trade & Industry and is responsible for strategies that help in sustainable economic growth.
The new venture, Climate Bridge International, is a partnership between Climate Bridge Group – one of China’s largest independent carbon project developers – and climate finance professionals Alvin Lim and Tan Chin Hwee.
Lim was the former head of Asia environmental products at investment bank Morgan Stanley while Tan was the former Asia-Pacific CEO at Trafigura.
Climate Bridge has built 500 projects to date, making its name in the Clean Development Mechanism and the voluntary market, before moving to China’s domestic scheme the CCER and now Article 6.
