Singapore's Temasek Doubles Down on Sustainability
July 09 2019 - 5:58AM
Dow Jones News
By Max Bernhard
Singapore's Temasek Holdings Pte. Ltd. wants the companies it is
invested in to slash their carbon emissions and is adding
businesses that tackle sustainability issues to its
mulitbillion-dollar portfolio.
The state investment firm, which had a net portfolio of about
$231 billion in its fiscal year ended March, will increasingly
reshape its portfolio in line with structural trends "driven by
transformational technologies, sustainable living, longer
lifespans, and changing consumption patterns," Chief Executive
Dilhan Pillay Sandrasegara said Tuesday.
The CEO said there is an urgent need for solutions that "support
sustainable, longer and more fulfilling lives, while protecting the
natural environment." As examples of this, he cited Temasek's
investments in French renewable energy company Neoen SA (NEOEN.FR)
and in indoor farm operators Sustenir Agriculture and Bowery
Farming. The group has also invested in businesses working to
tackle age-related diseases, the CEO said.
He added that Temasek would like businesses it invested to work
toward carbon neutrality. He noted that companies such as Singapore
Airlines Ltd. (C6L.SG) and Singapore Telecommunications Ltd
(Z74.SG), in which Temasek has substantial stakes, are already
working to reduce their carbon footprint.
Temasek is asking the companies it invests in to halve their
carbon footprints by 2030 and encourages them to reduce their
energy use, he said.
"We are deploying capital to catalyze and support companies
which can deliver innovative solutions to meet changing demands,
and address global sustainability challenges," said John Vaske,
head of the Americas region at Temasek.
To this end, the company has a framework with which to
incorporate environmental, social and governance considerations in
its investment decisions, Mr. Vaske said.
--Gaurav Raghuvanshi contributed to this article.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
July 09, 2019 06:43 ET (10:43 GMT)
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