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

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