Climate Change

Temasek Unveils $44 Billion Sustainable Living Portfolio, Targeting Net Zero Emissions by 2050

Main image to the post Temasek Unveils $44 Billion Sustainable Living Portfolio, Targeting Net Zero Emissions by 2050

Temasek Unveils $44 Billion Sustainable Living Portfolio

Temasek, a Singaporean investment firm, has unveiled a $44 billion portfolio dedicated to sustainable living. This portfolio, which excludes institutional assets and liabilities, comprises $38 billion in sustainability-focused investments and $6 billion in climate transition investments.

This announcement was made in Temasek's inaugural sustainability report, released alongside its annual Temasek Review. The report revealed a total net portfolio value of $389 billion as of March 31st.

In the past financial year, Temasek added $3 billion of investments to its sustainability portfolio, focusing on areas like food, water, waste, energy, materials, clean transport, and the built environment. Recent investments include electric vehicle companies Mahindra Electric Automobile (India) and BYD (China), sustainable battery solutions provider Ascend Elements (US), and electrolyser manufacturer Electric Hydrogen (US).

In May, Temasek partnered with Canadian fund Brookfield to acquire Neoen, a France-based renewable energy company.

Temasek's climate transition investments target high-emitting sectors aiming to transition to climate-friendly products and services, such as Sembcorp Industries and Danish gas company Topsoe.

Temasek has already reduced net carbon emissions attributable to its portfolio by 5% from 2010 levels. The firm aims to halve these emissions by 2030, reaching 11 million tonnes of carbon dioxide equivalent (MtCO2e), and achieve net zero emissions by 2050.

Chief investment officer Rohit Sipahimalani noted that sustainable living investments were once Temasek's smallest portfolio but are now the fastest-growing.

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May 21, 2023 | 05:09