The chief executive officer of Temasek Holdings, Mr. Pillay, expressed concerns about the sustainability of the company's current climate goal, warning that global economic and industrial realities are making the transition to greener energy more challenging. He commented on industries heavily dependent on conventional energy sources, making emissions reductions difficult to achieve in the near term, and the uneven nature of the global energy transition.
SINGAPORE: Temasek Holdings has warned that it may struggle to meet its medium-term climate goal of halving the net emissions linked to its portfolio by 2030, due to global economic and industrial realities complicating the transition to greener energy.
Debt manager Dilhan Pillay acknowledged emissions tied to the investment firm's portfolio have fallen by around 30% since its first climate targets were announced in 2019. However, sectors such as aviation and power generation, which form significant parts of its portfolio, could prevent emissions from falling sufficiently to meet the 2030 target.
Mr. Pillay emphasized the role of renewable energy in decarbonizing the power sector but also acknowledged the need for traditional baseload energy sources, such as thermal power, during the transition period to maintain electricity grid stability and keep power prices affordable
Climate Change Renewable Energy Power Generation Traditional Baseload Energy Sources Emissions Reductions Scenario Of A Low-Carbon Economy Decarbonisation Of The Aviation Sector Transition To A Sustainable Future
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