MAS launches $5m Asia Climate Solutions Design grant

It will fund studies on scalable blended finance solutions.

To help corporations decarbonise, the Monetary Authority of Singapore (MAS) has launched the $5m Asia Climate Solutions Design Grant.

The grant, launched during the Transition Finance Towards Net Zero (TFNZ) Conference, will be used to fund proof of concept and feasibility studies on innovative and scalable blended finance solutions.

It will also be utilised to “mobilise capital into high impact target sectors that are significantly under-capitalised in Asia, such as early-stage climate adaptation and mitigation technology, clean energy access, sustainable transport, sustainable cities and infrastructure, sustainable
agriculture, and nature-based solutions,” said MAS.

Apart from the grant, MAS also introduced an initiative by the GFANZ Asia-Pacific (APAC) Network  to develop guidance for financial institutions on how they can facilitate the managed phase-out of coal power generation in the Asia Pacific. 

“This guidance aims to provide the clarity that is needed to help drive capital into such projects. The Asian Development Bank and MAS will participate in this initiative and financial institutions interested in contributing to this effort are invited to express their interest,” said MAS.