SINGAPORE: Chairman Lim Boon Heng of Temasek said on Monday, September 23, that the company will set aside S$100 million (US$77.5 million) as concessional capital to assist climate change efforts.
“Our goal is to raise capital to fund projects that are just barely bankable,” Mr Lim stated during the state investor’s 50th anniversary luncheon held at the Shangri-La Hotel.
By mobilising funds from various sources, such as public, private, and charitable capital providers, we think there may be a catalytic effect. Our charitable contributions will grow as more money is allocated to climate action.
For the first time, Temasek is supporting the green transition with concessional capital, which is capital that is prepared to take on greater risk or a lower return.Temasek went on to say that its concessional funding will offer “more flexible, patient and favourable financing” in order to tackle issues including rising capital costs and risks associated with emerging markets.
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