Line a 13×9-inch baking pan or casserole dish with wax paper and lightly spritz with cooking spray.
Place white chocolate chips, sweetened condensed milk, molasses, butter, and vanilla in a medium saucepan over low heat, stir to combine. Alternatively, you can use a double boiler.
Melt chips, stirring frequently, until smooth, about 5-6 minutes.
Remove from the heat and add the ginger, cinnamon, nutmeg, allspice, and cloves, stir to combine, and pour into the prepared baking dish.
Spread the fudge mixture evenly along the bottom and set aside to cool at room temperature.
Once cooled, cover and place in the refrigerator until firm, about 3 hours.
Cut fudge into squares and decorate with icing or frosting before serving.