Issue 202: Temasek’s pragmatic climate ambition; China’s green yuan versus the US petrodollar
This week in ESG: Temasek shifts to baseline scenario of warmer, more fragmented world; veteran economist urges yuan-denominated financing for green transition
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Sustainable investing
Temasek adapts to warmer, fragmented world
Temasek is striking a tone of pragmatism as it institutionalises the recognition that the world will probably be hotter than hoped.
As it acknowledges the reality that fossil fuels might be needed for longer, and that physical climate costs will be higher, the Singapore government-owned investor’s latest sustainability report seems to send a message that while Temasek isn’t deviating from its long-term climate goals, the shorter-term pathways could get a little twisty.
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