Singapore's Temasek sets aside US$77mil to support climate action initiatives

File pic — Bloomberg

SINGAPORE: Singaporean state-owned investor Temasek said on Monday that it is setting aside S$100 million ($77.43 million) as a community gift to support climate action initiatives that will accelerate the green energy transition.

Temasek said in a statement that the gift, named "Concessional Capital for Climate Action", will provide more flexible, patient and favorable financing to projects that include marginally bankable clean infrastructure projects in Asia.

Temasek, whose net portfolio value totaled $288 billion as of March 31, 2024, announced the community gift in conjunction with its 50th anniversary dinner on Monday. - Reuters