Singapore hosts IPEF Clean Economy Investors Forum; projects worth $23 billion identified

The first Clean Economy Investors Forum of the Indo-Pacific Economic Framework for Prosperity (IPEF) was held on June 6, 2024 at the Sands Expo and Convention Centre, Singapore.

The full-day, invitation-only event brought together 300 participants from the region's leading investors, cutting-edge project developers, innovative start-up entrepreneurs, ministers and senior government officials.

Singapore Prime Minister and Minister of Finance Lawrence Wong was the guest of honor at the IPEF Clean Economy Investors Forum.

In total, 69 sustainable infrastructure projects representing more than $23 billion in investment opportunities were identified at the Investors Forum. Of these, 20 investment-ready projects worth around $6 billion were presented to investors during business matchmaking sessions. The remaining projects, worth approximately $17 billion, have also been identified as potential investment opportunities in the future.

Organized by the Singapore Ministry of Trade and Industry alongside 13 other IPEF partners, the Investors Forum aimed to facilitate the matching of high-quality businesses and capital and build connections between public and private sectors.

This was a key initiative to advance the goals of the IPEF Clean Economy Accord, mobilizing finance to support the development and deployment of clean energy infrastructure and technologies and climate-friendly policies in IPEF economies.

All IPEF partners were invited to propose sustainable infrastructure projects through a process facilitated by PwC Singapore.

The 20 investment-ready projects span various areas including industrial parks, special economic zones, energy, agriculture and aquaculture, waste management, water and transport, and were nominated by Brunei , Fiji, India, Indonesia, Republic of Korea and Malaysia. , New Zealand, Philippines, Singapore and Thailand.

Additionally, 49 climate tech startups sought to raise up to $2 billion in new investments at the Investor Forum. These were identified by HolonIQ, a global impact economy research platform, from its 'Indo-Pacific Climate Tech 100' shortlist of top climate tech startups based in the Indo-Pacific region. -Peaceful.

IPEF governments also announced new funding and projects at the Investors Forum to continue investment in the clean economy. These include the following:

● Australia, Japan, the Republic of Korea and the United States announced the operational launch of an IPEF Catalytic Capital Fund, which pools resources to expand the portfolio of clean economy infrastructure projects bankable. A total of $33 million in initial funding is underway and will be set aside to catalyze up to $3.3 billion in private investment in countries eligible for Official Development Assistance (ODA).

● Japan will launch the Hydrogen Fund, which aims to mobilize private finance to strengthen cross-border hydrogen supply chains. The Hydrogen Fund will also establish an “IPEF window” to deploy funding for activities undertaken in the IPEF region. Its operations are expected to begin in the third quarter of this year.

● Singapore, the United States and Vietnam have established a working group to strengthen investment in renewable energy projects in the region and explore the development of a regional submarine cable framework to facilitate cross-border trade in electricity.

● The U.S. International Development Finance Corporation is contributing to an equity investment in the Southeast Asia Clean Energy Fund II, pending congressional notification. This will enable SEACEF to raise approximately $175 million to invest seed capital in projects and businesses that will accelerate the transition to a climate-resilient economy.