background image

Singapore's Temasek doesn't rule out high-carbon investments on road to net zero

author image

By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: Singapore's state fund, Temasek, will consider investing in fossil fuel and other carbon-intensive projects if they present both environmental and commercial benefits
• This approach aligns with its goal of achieving net-zero portfolio emissions by 2050

🔭 The context: Temasek's chief investment officer, Rohit Sipahimalani, emphasized the importance of transforming high-emitting industries
• Temasek's previous endeavors include a shelved bid with Brookfield to acquire and decommission coal-fired plants in Australia, replacing them with renewables

🌍 Why it matters for the planet: By investing in and transforming carbon-intensive sectors, Temasek aims to drive significant environmental improvements while advancing its sustainability goals
• Their investments in green steel and electric vehicles highlight this commitment

⏭️ What's next: Temasek plans to increase its internal carbon price from $65 per metric ton in 2023 to $100 by 2030, influencing long-term investment viability and management incentives
• The fund targets a reduction in portfolio emissions from a peak of 30 million tons in 2021 to 11 million tons by 2030

💬 One quote: "It used to be the smallest part of our portfolio but it is the fastest growing," said Rohit Sipahimalani, referring to investments aligned with "sustainable living" goals

📈 One stat: Net emissions from Temasek's portfolio fell by 22% to 21 million tons last year

Click for more news covering the latest on environmental sustainability

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices


Related Posts


You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)