Temasek launches green investment arm, pledges $5b in initial funding

  • 📰 STForeignDesk
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 71%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

SINGAPORE - Temasek on Monday launched at its office at The Atrium @ Orchard a green investment firm that aims to accelerate global efforts to cut carbon emissions and fight climate change, pledging

an initial $5 billion.

GenZero, wholly owned by Temasek, aims to deploy long-term and flexible capital to help early-stage companies and technology solutions that need funding to grow towards commercialisation, as well as more mature opportunities that are ready to scale up. GenZero's investments aim to help the world achieve net zero greenhouse gas emissions by 2050 and limit global warming to 1.5 deg C above pre-industrial levels, key goals of the United Nations' Paris Agreement, the world' main climate pact.

GenZero's investments will focus on three areas, the firm told a media briefing on Monday: technology-based solutions that deliver deep emissions reductions, such as carbon capture, utilisation and storage and advanced biofuels; nature-based solutions that help protect and restore natural ecosystems while benefiting local communities and biodiversity; and companies and solutions that support the development of an efficient and credible carbon market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australian PM in Indonesia for talks on investment, climate changeJAKARTA: Australian Prime Minister Anthony Albanese was in Indonesia on Monday (Jun 6) to meet its President Joko Widodo and shore up relations between the two neighbours, in his first bi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Australian PM in Indonesia for talks on investment, climate change
Source: STForeignDesk - 🏆 4. / 71 Read more »