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Temasek Defends Green Goals After Backing Singapore Polluters

July 21, 2021, 9:00 PM

It might seem contradictory to invest in carbon-emitting polluters while pledging to be an eco-trailblazer, but that’s exactly what Singapore state investor Temasek Holdings Pte is attempting to do.

As one of the world’s largest institutional investors, its $282 billion portfolio is replete with businesses that contribute to global warming -- from Singapore Airlines Ltd. to Sembcorp Marine Ltd., a supplier of offshore rigs. While peers like Norway’s sovereign wealth fund have used hard targets and the sale of assets to improve their green credentials, Temasek is taking a different path.

“We never said we will not invest ...

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