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.
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