NEOEN Neoen SA

   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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