Singapore, 5 May 2025 — The Singapore Economic Development Board (EDB) has partnered with TT Foundation Advisors (TTFA), the philanthropy advisory arm of Temasek Trust, to launch a donor-advised fund (DAF) that will mobilise capital from family offices and foundations for projects that generate high-integrity Article 6 carbon credits under EDB's Carbon Project Development Grant¹.

This partnership will enable private capital owners to participate alongside EDB in catalysing high-quality carbon projects, and further boost Singapore’s carbon market development while delivering climate, nature, and community benefits.

Managed by TTFA, the new DAF has been set up to augment EDB’s Carbon Project Development grant, a pool of capital that EDB has committed to catalyse early-stage Article 6 carbon projects. 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. It is designed to offer flexibility for interested family offices — allowing contributions from their own DAFs, aligning capital with shared impact goals.

Early-stage carbon projects often face critical funding gaps — particularly at the feasibility-stage, before registration with a recognised standards body. These projects also struggle with limited access to financing, and long-term buyers or offtakers. The new DAF addresses these challenges by accelerating financing in the early stages of carbon project development across Southeast Asia and beyond.

“Our partnership with EDB provides family offices with a trusted platform to support climate solutions and opens up pathways to engage in philanthropic opportunities across the broader Temasek Trust ecosystem and beyond. This reflects our commitment to building collaborative platforms that unlock private capital for good, and to working alongside like-minded partners to drive lasting, systems-level impact,” said Mr. Dickson Lim, Head, TT Foundation Advisors.

Through the DAF, family offices and foundations can collaborate with EDB in key areas such as:

• Co-grant funding for early-stage feasibility studies
• Financing for successfully validated projects
• Offtake partnerships and demand signalling to increase project viability

To date, a major commitment of S$20M 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.

“We are excited to see strong momentum and interest growing from project developers and private capital owners, such as family offices and foundations, who share Singapore’s vision to pursue high-quality climate solutions. Our partnership with TTFA will enable promising carbon projects to receive the support they need through their lifecycle and bring us closer to our climate goals,” said Mr. Lim Wey-Len, Executive Vice President, EDB. “We welcome like-minded partners to connect with us to tap on the potential and opportunities for decarbonisation projects in Singapore and the region.”

This partnership is part of Singapore’s broader efforts to strengthen its carbon market ecosystem through public-private-philanthropic partnerships. By bringing together capital owners, project developers, and public agencies, EDB and TT Foundation Advisors aim to create an enabling environment for carbon projects to take root and scale – unlocking innovative solutions that deliver lasting climate and community impact.

Interested family offices and foundations can contact TTFA at [email protected].

[1] Please refer to the media release on EDB’s Carbon Project Development Grant here: https://www.edb.gov.sg/en/about-edb/media-releases-publications/grant-supports-leading-companiesin-high-quality-carbon-credits.html

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About the Singapore Economic Development Board (EDB)

The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore’s position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore and Singaporeans. For more information on EDB, please visit www.edb.gov.sg. 

About TT Foundation Advisors (TTFA)

TT Foundation Advisors is an independent professional philanthropy services advisory arm of Temasek Trust. It provides specialised philanthropy advisory and management services to philanthropic foundations, family offices, business corporations, philanthropists, and charities. It taps on Temasek Trust’s insights, capabilities, and resources, as well as the expertise and evidence-based interventions across the wider philanthropic ecosystem, to deliver strategic and impactful solutions for its clients. For more information, please visit www.ttfa.sg. Follow TTFA on LinkedIn for the latest updates. 

Media Contacts:

For the Singapore Economic Development Board (EDB)

Deborah Yap
Assistant Vice President, Brand, Marketing and Communications
Tel: +65 6832 6346
[email protected] 

For TTFA