Singapore’s state investor Temasek It has pledged to donate S$100 million to combat climate change.
The initiative, called Concessional Capital for Climate Action (CCCA), was announced by Temasek Chairman Lim Boon Heng at the company’s 50th anniversary celebrations.
CCCA aims to bridge the climate change financing gap, particularly in Asia, by providing flexible and favourable financing options for hard-to-finance projects.
Emphasis will be placed on efforts to promote climate resilience, biodiversity and sustainable livelihoods.
The move marks a shift in Temasek’s philanthropy strategy, moving beyond traditional grant-making to actively participate in the green transition.
The S$100 million allocation, funded by Temasek’s community contributions, reflects the company’s commitment to supporting long-term environmental initiatives.
Lim Boon Heng added:
“At Temasek, we have a long history of investing in sustainability and deploying commercial capital to scale up innovation for the green transition. At the same time, we believe concessional capital is crucial to catalyze financing for emerging markets and developing countries.”
“Blended finance initiatives like the Monetary Authority of Singapore’s Financing Asia Transition Partnership (FAST-P) are key in aligning long-term investors and philanthropists alongside commercial investors for this purpose. Through Concessional Capital for Climate Action, we hope that our community’s contributions can contribute to the emergence of concessional capital as an asset class and mobilize the different forms of capital needed to close the climate finance gap.”
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