GIC doubles down on climate tech amid market slump

Quick Summary:

As climate tech funding cools, the Singapore state-owned investor has launched an investment scheme betting on long-term returns from green assets, such as early-stage decarbonisation solutions in green steel and battery storage.

In 2020, state investor Temasek, which released its inaugural sustainability report earlier this month, pledged to halve its portfolio emissions by 2030 and to achieve net zero emissions by 2050.

As private equity and venture capital firms show less appetite for risky climate tech bets compared to a few years ago, Singapore sovereign wealth fund GIC is bucking the market trend.

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Article Details

Author / Journalist: Gabrielle See

Category: EconomyBusiness

Markets: SingaporeSwedenUnited States

Topics: ESG Climate finance Batteries Sustainable finance Climate risk Net zero Energy transition Green steel Financing Investment Climate tech

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 03:12:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 753 words

Reading Time: 5 minutes read

Sentences: 23 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Eco-Business

News ID: 21768018

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Official Website: eco-business.com

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