At Fura1, a new bar that opened in August on Singapore&rsquo;s vibrant Amoy Street, eyebrow-raising drinks, from the jellyfish martini to a mealworm margarita, are being crafted and tested. The environmentally conscious establishment seeks to restore ecosystem balance where possible by using sustainable ingredients and sources.The opening of Fura signals that novelty is the new normal. And with the Singapore Food Agency's (SFA) impending approval2 of 16 species of insects for human consumption, it's a nod to the looming global food crisis, with insects now recognised by the UN's Food and Agriculture Organisation3 as a cheaper, nutritious and less pollutive alternative protein source.Singapore&rsquo;s move is emblematic of a paradigm shift that is taking place across the world. The forward-thinking approach applies not just to food technology but to the country&rsquo;s food regulations as well. With government support and a flurry of food tech activity, Singapore is developing as an agri-food hub. Sector luminaries are increasingly gathering in the city for era-defining conversations at events such as the annual Singapore International Agri-Food Week (SIAW).

Dr Tan Lee Kim, the SFA&rsquo;s director-general (food administration) and deputy chief executive officer, says that SIAW is a &ldquo;valuable opportunity&rdquo; for collaborations in the food industry.<h2>Cultivating innovation</h2>A key topic of the discussions at SIAW is food security. With the world&rsquo;s population forecast to hit 8.5bn by 2030 and 10bn by 21004, the environmental impact of food production is increasingly of grave concern. Recent geopolitical conflicts and the Covid-19 pandemic, which disrupted supply chains, have also exacerbated the food security situation.&nbsp;However, innovations offer hope for the future. While the world is at a food security turning point5, technological advances are producing remarkable gains in crop yields.&nbsp;The crisis also presents huge opportunities, with Singapore demonstrating how its lack of a farming hinterland has been a driver of full-throttle innovation. While the island nation is celebrated as a multicultural culinary haven, it produces less than 10 per cent6 of the food it needs, and finding creative solutions out of necessity is in its DNA. Singapore intends to further tap innovation to shore up its food security and become more self-sufficient.&nbsp;To this end, the government is working with the local agri-food industry to sustainably produce 30 per cent of Singapore&rsquo;s nutritional needs by 2030. This &ldquo;30 by 30&rdquo; vision will be significantly fuelled by innovation.

The Singapore Food Story R&amp;D Programme, started in 2019, is a national initiative to focus on aquaculture and urban agriculture, as well as food safety. The government has since committed over S$300mn (US$220mn)7 to the programme, with key announcements on investments made by Singapore&rsquo;s Deputy Prime Minister Heng Swee Keat at SIAW 2022.&nbsp;However, funding research is one thing. Bringing the benefits of that research to market is another. Thus, the FoodInnovate initiative was launched in 2018 to give companies a boost in innovating, commercialising and selling their products. Meanwhile, events such as SIAW, give companies and thought leaders a platform to share ideas and forge partnerships.&nbsp;<h2>Progressive regulation</h2>While providing quality infrastructure for top-notch innovation, Singapore has also enhanced regulations to secure the future of food. In 2020, it became the first country in the world to approve the sale of cultured meat developed from animal cells in laboratories. It was the first time globally that cultured meat was sold commercially, always meeting stringent safety standards.&nbsp;San Francisco-based food tech start-up Eat Just &mdash; which lauded Singapore as a &ldquo;leader in innovation of all kinds8&rdquo; &mdash; chose the city as the first global market for its lab-grown chicken nugget. Eat Just has since set up its regional headquarters in the Lion City.&nbsp;Singapore&rsquo;s favourable regulatory landscape has also advanced conversations on new food products. Each year SIAW plays host to the <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/566421296;375429221;l'>Roundtable on Novel Food Regulations</a>, organised by the SFA, which has brought together speakers and attendees from the UN and countries such as Australia, New Zealand and Canada.&nbsp;

Such an environment has encouraged the growth of companies such as Oatside into the region and beyond. The homegrown oat milk company now operates in 18 markets globally, with chief executive and founder Benedict Lim praising Singapore as a &ldquo;fantastic hub for a food company&rdquo;.&ldquo;Singapore has a clear framework on food regulations, a strong network of food ingredient players with local operations, and a pool of R&amp;D talent that make it an attractive place for food and beverage innovations,&rdquo; he said.<h2>Gathering at the table</h2>This year&rsquo;s SIAW, to be held from October 30 to November 2, again promises to be a platform for creating a sustainable global food production ecosystem, building on last year&rsquo;s edition that attracted more than <a href='https://ad.doubleclick.net/ddm/clk/566467776;375429224;b'>6,000 attendees</a> from almost 70 countries. David Chen, the chief executive and chairman of investment firm Equilibrium, was among them.

David Chen, the chief executive and chairman of investment firm Equilibrium said, adding that SIAW featured a &ldquo;multitude of events&rdquo; in areas including food technology, supply chain and public policy. &ldquo;It allows for the mixing of stakeholders in a way that normally wouldn&rsquo;t take place in a single &mdash; for example, genetics or vertical farming &mdash; conference.&rdquo;&nbsp;Chen said he was looking forward to speaking at this year&rsquo;s SIAW, where he intends to share his expertise in controlled environment agriculture. With the overarching theme of &ldquo;Innovating for Sustainable Food Production in Asia&rdquo;, the <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/566421299;375429227;u'>2023 edition</a> is set to usher in an exciting new era of agri-food breakthroughs.

As one of Asia’s top financial centres1, Singapore has attracted significant investments in recent years, with assets under management (AUM) soaring 16 per cent in 2021 to $4tn.Strong inflows, which outpaced the global growth rate, were driven mostly by overseas investors. But more than simply facilitating capital flows, the south-east Asian country has been at the heart of the biggest global conversations about the critical role of finance in today’s world, as well as the fresh possibilities it offers in a digitalised, sustainable future.Singapore is increasingly the choice destination for top business events, which draw a broad spectrum of financial industry players, from fund managers and bankers to technopreneurs, sustainable investors and policy makers. Events such as the Singapore Fintech Festival2, SuperReturn Asia3, InsureTech Connect Asia4 and SALT iConnections Asia5 provide platforms for them to discuss key issues, seek inspiration and forge new collaborations.<h2>The power of private capital</h2>Singapore’s asset management industry has seen rapid diversification amid the rise of private capital in global markets in recent decades. Private equity, venture capital, hedge funds and family offices, in particular, have been growing in influence as they deploy wealth across a broad range of assets, fund strategies and markets.This, in turn, has driven up interest in alternative investments, with AUM in this arena rising 30 per cent in Singapore in 2021 to reach $900bn. The city-state now boasts close to 1,200 asset managers, including 425 private equity and venture capital managers6.Its burgeoning base of financial professionals makes Singapore a natural choice for global thought leadership forums, such as this year’s <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/567375723;376826787;i'>SALT iConnections Asia</a>, which will take place on November 14-16. Touted as Asia’s flagship “Cap Intro” event, it offers regional money managers and investors opportunities to forge connections and conduct initial due diligence on a large scale.With single-family offices (SFOs) expected to make up 34 per cent of the 300 allocators that will attend SALT iConnections Asia, a dedicated session will offer insights into the strategic approaches that SFOs are leveraging to optimise their alternative asset allocations.Another high-profile event is <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/567375726;376826790;f'>SuperReturn Asia</a>, which drew more than 2,000 decision-makers from global funds to the city in September this year. Besides hosting key networking and business meetings, the event featured four summits with deep-dive discussions on venture capital, limited and general partner relations, climate tech and private credit.Furthermore, a number of annual general meetings and fund-raising activities were held on the sidelines of SuperReturn Asia. Participants therefore found their trips to Singapore especially fruitful, allowing them to achieve multiple goals and drive their business agendas forward.“Amid current market conditions and sentiments about sustainability, people are leaning towards consolidating their travel plans to get as much data as possible, meet more people and make more deals in one place within a short time,” said Shane Chesson, Vice Chairman of the Singapore Venture & Private Capital Association (SVCA), which partners SuperReturn Asia.

<h2>New frontiers of finance</h2>Singapore is becoming a nexus for collaborations not just among financial industry professionals, but also for policymakers, innovators, academics and other players in the fast-growing ecosystem of fintech and sustainable finance.This is reflected in the annual <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/567455067;376477925;e'>Singapore Fintech Festival (SFF)</a>, the world’s largest platform for this diverse range of experts to engage, share insights and achieve actionable outcomes. One highlight of the festival is the Elevandi Insights Forum, which brings together top officials, central bankers and business leaders at an invite-only session.

The eighth edition of SFF, which will take place on November 15-17 this year, is expected to attract more than 62,000 participants from 134 countries. Participants will be able to explore business, partnership and learning opportunities in five new zones — technology, founders, ESG, regulation and talent — curated around the theme of “policy meets technology meets financial services” said Pat Patel, Executive Director of Elevandi, which organised the SFF with the Monetary Authority of Singapore.Dante Disparte, Chief Strategy Officer and Head of Global Policy at fintech firm Circle, attended SFF 2022, remembering “its lively sessions, networking and engagements”. A highlight of the event is the SFF showroom, he said, which “is like peering into the future of money and banking, as participants demonstrate their latest market developments”.<h2>A world-class host</h2>The massive SFF is housed at the <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/567455070;376477928;b'>Singapore EXPO</a>, which has 123,000 sq m of space to host mega conventions. Certified a sustainable “Green Mark Platinum” venue by the Building and Construction Authority, the EXPO aspires to reach net zero by 20247. Like every event at the EXPO, the SFF minimises its carbon footprint through efficient energy practices, eliminating single-use plastics and obtaining food from sustainable sources.The venue is located just a 10-minute drive from Singapore’s international airport and 15 minutes from the central business district, which offers multiple hospitality and dining experiences. Last year, SFF took over 10 restaurants and bars along Club Street, a vibrant enclave in downtown Singapore, to provide a conducive setting for delegates to network while enjoying drinks and culinary delights. The “SFF After Hours” experience proved such a hit that it will be back this year.

“Singapore is one of the very few destinations in the world that can offer this set-up of great connectivity from the airport to such a large-scale venue like the EXPO,” said Patel.Singapore EXPO is just one of a <a target='_blank' href='https://ad.doubleclick.net/ddm/clk/567378429;376826793;l'>wide array of exceptional meeting venues</a> that the city has to offer, alongside Marina Bay Sands, the iconic Gardens by the Bay and many others. As a preferred host for best-in-class events, the Lion City is where the world’s top minds are coming together to chart a sustainable future for global finance.

South-east Asia has suffered close to <a href='https://ad.doubleclick.net/ddm/clk/579901260;388672066;u' target='_blank'>$220bn</a> in climate-related economic losses over the past 30 years, and observers expect the region to face <a href='https://ad.doubleclick.net/ddm/clk/579901263;388672069;a' target='_blank'>major challenges</a> in the coming decade due to human-induced climate change. In the face of such challenges, Singapore is actively helping to usher in a greener tomorrow.In the 2023 Southeast Asia’s Green Economy Report jointly published by Bain & Company, Temasek, GenZero and Amazon Web Services, it was estimated that as of 2022 an additional $1.5tn in cumulative investments would be needed to meet the region’s 2030 carbon reduction targets.By continually pushing at the frontiers of sustainability, Singapore has positioned itself as a regional hub committed to supporting the green transition across south-east Asia, most notably through the <a href='https://ad.doubleclick.net/ddm/clk/579901266;388672072;x' target='_blank'>Singapore Green Plan 2030</a>, which is a whole-of-nation programme designed to advance its sustainable-development agenda.At the UN’s COP28 climate change summit that wrapped up in Dubai in December, many inroads into carbon credit trading, high-integrity carbon credits, green finance and decarbonisation were made in conjunction with Financing Asia’s Transition Partnership (Fast-P) – a blended finance initiative launched in collaboration with key public, private and philanthropic sector partners in Singapore <a href='https://ad.doubleclick.net/ddm/clk/579901269;388672075;d' target='_blank'>to mobilise $5bn</a> for green transition projects.The Monetary Authority of Singapore (MAS) launched the <a href='https://ad.doubleclick.net/ddm/clk/579901272;388672078;a' target='_blank'>Transition Credits Coalition</a> (Traction) in the same week, with two pilot projects that will test the use of high-integrity transition credits for the early retirement of coal-fired power plants in Asia.“We're not only aiming to be a pure green finance hub. Our vision is to be a leading sustainable finance hub for Asia — one that not only ensures green activities are financed, but one that can also catalyse and drive Asia's net-zero transition,” said Pamela Lee, MAS’s deputy chief sustainability officer.In fact, Singapore’s strengths in the regulatory environment and its effective climate policy framework mean the island now accounts for <a href='https://ad.doubleclick.net/ddm/clk/579901275;388672081;x' target='_blank'>more than half</a> of the green, social and sustainability-linked bonds and loans in the Association of Southeast Asian Nations (Asean) region.<h2>Singapore as a hub for green dialogue</h2>As well as ensuring the availability of green finance, Singapore aims to move the environmental agenda forward by encouraging thought-leadership conversations at high-level events such as the Singapore Carbon Market & Investor Forum, Ecosperity Week and Asia Climate Summit.

When specialist event organiser Carbon Forward was looking to launch an Asian edition of its flagship gathering, it chose Singapore as host.“Singapore was a natural choice as the host city for Carbon Forward Asia due to its status as a financial and carbon hub for the larger [Asia-Pacific] region, along with the strong support received from key government agencies and the presence of engaged industry sponsors,” said Stian Reklev, co-founder of Carbon Pulse, a provider of market intelligence on global climate policies.Carbon Forward Asia will take place in Singapore on March 7-8 this year. Attendees can look forward to many opportunities to gain knowledge on policy developments and market opportunities.Meanwhile, the meetings, incentives, conventions and exhibitions (Mice) industry is set to become greener as Singapore implements its <a href='https://ad.doubleclick.net/ddm/clk/579918078;388672084;j' target='_blank'>Mice Sustainability Roadmap</a> to elevate sustainability standards in the sector. The move follows the 2022 establishment of the Global Mice Sustainability Alliance, achieved through collaboration between the Singapore Tourism Board and key industry players.Since then, a first-of-its-kind <a href='https://ad.doubleclick.net/ddm/clk/579918081;388672087;g' target='_blank'>zero-waste booth</a> — featuring upcycled materials and a reusable modular design — was introduced at Food & Hotel Asia’s Food & Beverage event in the city in 2023, and Singapore is set to host the Global Sustainable Tourism Council Certification global conference in November this year.<h2>A green innovation hub</h2>Technology is <a href='https://ad.doubleclick.net/ddm/clk/579918084;388672090;d' target='_blank'>critical to combating climate change and building more resilient communities</a>, so Singapore has also been driving green-tech innovation. Temasek’s annual <a href='https://ad.doubleclick.net/ddm/clk/579918087;388672093;j' target='_blank'>Ecosperity Week</a>, for instance, attracts global investors, business leaders and policymakers to Singapore and encourages the development of breakthrough technical solutions and collaborations. Its 2023 edition drew over 3,000 participants, including key speakers such as Indonesian President Joko Widodo.Ecosperity Week also features events such as the Liveability Challenge, which explores innovative solutions to the challenges faced by cities located in the tropics. More than 600 solutions from 82 countries were submitted for the most recent edition of Ecosperity Week, all vying for S$2.5mn worth of grants and prizes.Early-stage climate projects can also look forward to improved bankability of sustainable investments in the region thanks to a new <a href='https://ad.doubleclick.net/ddm/clk/579918090;388672096;g' target='_blank'>green investments partnership</a> between Allied Climate Partners, International Finance Corporation, the MAS and Temasek that was signed at COP28. The partnership will bridge gaps in the region's sustainable infrastructure financing needs through blended finance and crowding in both concessional capital from the philanthropic and public sectors and private capital.With <a href='https://ad.doubleclick.net/ddm/clk/579918093;388672099;m' target='_blank'>more than 80 per cent</a> of south-east Asia still dependent on fossil fuels for power, an orderly and just energy transition will be needed to reach net zero.Global energy leaders who convened at the 2023 <a href='https://ad.doubleclick.net/ddm/clk/579918096;388672102;a' target='_blank'>Singapore International Energy Week</a> (SIEW) addressed the importance of technological innovation, investments and infrastructure, as well as supply chain resilience, to meeting this goal. Organised by Singapore’s Energy Market Authority (EMA), the event aims to drive global dialogue and action in the energy transition.Since SIEW’s first edition in 2008, it has brought together more than 200,000 energy players from over 130 countries, including prominent speakers such Dr Fatih Birol, executive director of the International Energy Agency (IEA).“With the climate crisis being a serious challenge and decarbonisation increasingly urgent with each passing year, SIEW is a key global platform for energy players to discuss solutions to energy issues and the energy trilemma,” said Jonathan Goh, Director of the External Relations Department at EMA.

EMA hopes that SIEW will continue to provide a platform for industry-specific discussions alongside other events. The decision of the International Renewable Energy Agency (Irena) to hold three editions of its Singapore-IRENA High-Level Forum in the country cemented Singapore’s reputation as the ideal location for the meeting of high-level government representatives, financial institutions, development partners and industry leaders.“IRENA hopes to see an even stronger emphasis on translating commitment into action [and] we expect SIEW 2024 to be a pivotal platform for forging impactful partnerships and accelerating the global transition to renewable energy,” said an IRENA spokesperson.“The Singapore government has put climate change as an urgent national priority, implementing measures to increase the use of clean, sustainable energy. In so doing, Singapore has emerged as a hub for regional collaboration to intensify actions on the ground.”

Conversations of our time:
Singapore's place in defining the zeitgeist

Singapore has firmly established itself as a fulcrum in world trade and innovation. This series showcases the city’s thriving calendar of trade conferences and exhibitions across sectors including financial services and agrifood.

Conversations of our time: Singapore's place in defining the zeitgeist

Singapore has firmly established itself as a fulcrum in world trade and innovation. This series showcases the city’s thriving calendar of trade conferences and exhibitions across sectors including financial services and agrifood.

Conversations of our time:
Singapore's place in defining the zeitgeist