MAS, Temasek, and partners ink MOU on green investments 

The parties will increase the bankability of green and sustainable projects in Asia.

Allied Climate Partners (ACP), International Finance Corporation (IFC), the Monetary Authority of Singapore (MAS), and Temasek signed a Memorandum of Understanding (MOU) to establish a green investments partnership.

The partnership will address climate finance gaps and increase the bankability of green and sustainable projects in Asia, particularly in Southeast Asia.

Under the MOU, the parties will deploy blended finance from concessional capital from the philanthropic and public sectors, and private capital to fund sustainable infrastructure projects.

The partnership will also focus on developing a pipeline of investments in sectors including renewable energy, electric vehicle infrastructure, and sustainable transport.

ACP will provide origination and technical support, whilst IFC will provide financial advisory and industry and environmental knowledge.

MAS will convene its local and international financial networks and sustainable finance and professional services ecosystem. Temasek will leverage its network of portfolio companies and partners for origination and investment opportunities.

All parties will consider opportunities to provide appropriate financing that can attract other concessional and commercial capital providers.

“[The] green investments partnership exemplifies the kind of public-private partnership key to mobilising the capital necessary for Asia’s transition. Using blended finance and targeted de-risking at the early stage of project preparation and construction will help strengthen project bankability and crowd in private investment at scale,” Ravi Menon, Managing Director of MAS said.