Temasek Review
Commemorating 50 Years
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Key Highlights

Sustainability in Our Investments

Climate

Net Zero by 2050

Target to halve the net carbon emissions attributable to our portfolio by 2030 (from 2010 levels) and ambition to achieve net zero by 2050

21%

Year-over-Year (YoY) reduction in portfolio Weighted Average Carbon Intensity

US$65 per tCO2e

30% increase in Internal Carbon Price to US$65 per tCO2e from 1 April 2024. Progressively raising to US$100 per tCO2e by 2030

1 million tCO2e

Reduction in Total Portfolio Emissions from 2010 levels, equivalent to 5%

9 million tCO2e

Reduction in Total Portfolio Emissions since setting of portfolio climate targets in 2020, equivalent to 30%

6 million tCO2e

YoY reduction in Total Portfolio Emissions, equivalent to 22%

Catalysing climate action through three key pathways:

Investing for a low-carbon economy

Encouraging decarbonisation efforts in our portfolio companies

Enabling carbon markets solutions

Nature

Developed our Nature Roadmap and participated in a Taskforce on Nature-related Financial Disclosures (TNFD) Asset Owner pilot

Social

Developed our Social Roadmap and piloted Social Baseline Expectations as part of our pre-investment diligence

Engaging Our Portfolio Companies


Dedicated engagement platforms on sustainability

94%

Engaged 19 major portfolio companies representing 94% of Total Portfolio Emissions

11

Out of 19 major portfolio companies engaged have net zero targets by 2050

Investing in Sustainable Living

S$44 billion

Portfolio value of Sustainable Living Trend-aligned investments as at 31 March 2024, including:

  • Ascend Elements
    Advanced battery materials producer and recycler
  • Mahindra Electric Automobile
    Electric four-wheeler passenger vehicle manufacturer in India
  • Mastronardi
    Fresh greenhouse-grown produce cultivator and distributor
  • H2 Green Steel
    Green steel manufacturer
  • eFishery
    Aquaculture technology solutions for smallholder farmers
  • Leapfrog Emerging Consumer Fund IV
    Growth equity impact fund investing in financial services and healthcare in Asia and Africa

Sustainability in Our Operations

Environment

58%

YoY increase in Carbon Intensity per employee due to progressive resumption in business travel

34%

Reduction in Carbon Intensity per employee from 2020 pre-COVID levels

Awarded Building and Construction Authority Green Mark (Healthier Workplaces) Certificate (Platinum) for Singapore Atrium office

People

34

Nationalities represented among Temasek employees

54%
Male : 46%
Female

Gender mix among Temasek employees

>90%

Employee participation in sustainability-focused initiatives

Community

S$150m

Set aside as a gift to the community on our 50th anniversary

Launched initiative to support impact enterprises through recoverable grants

Developed a bespoke Impact Measurement and Management Framework for community outcomes

Governance

100%

Attained full marks for the 2023 Governance, Sustainability, and Resilience (GSR) Scoreboard by Global SWF

Established a new Investment Stewardship function to manage the development and implementation of institutional policies and positions on stewardship and governance-related matters for our investment portfolio

Broader Ecosystem Engagement

Transition Finance

Knowledge partner to Transition Credits Coalition (TRACTION) launched by MAS, an initiative to develop transition credits as a complementary financing instrument to accelerate early retirement of coal-fired power plants in Asia

Collaboration with Allied Climate Partners, International Finance Corporation, and MAS to bridge gaps in Asia’s marginally bankable sustainable infrastructure financing through the Financing Asia’s Transition Partnership (FAST-P)

Our Participation and Convening Role

Over 3,000 participants at Ecosperity Week and 600 participants in Ecosperity Conversations at Climate Week NYC 2023

Completed Sustainable Aviation Fuel pilot in collaboration with the Civil Aviation Authority of Singapore, GenZero, and Singapore Airlines

Committed to advancing the International Sustainability Standards Board’s global baseline standards on climate

Strategic partner for The Earthshot Prize Awards Ceremony 2023 and the inaugural Earthshot Week in Singapore

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