Those targets were set during a time when “global momentum on climate action was building”, says Pillay. “Capital was relatively abundant. Interest rates were low. Global supply chains were largely stable.”
This year’s edition of Temasek’s Ecosperity Week started on a sombre note. Temasek CEO Dilhan Pillay said at the opening dinner in May that the global operating landscape has fundamentally changed since the event’s inaugural edition in 2014, and the investor is unlikely to meet its 2030 interim climate target.
Temasek had set a goal in 2019 to halve emissions from 2010 levels by 2030. The Singapore-headquartered investor also aims to achieve net zero by 2050.
