Singapore's investment company Temasek will set aside $100 million in capital to support climate action initiatives as part of its philanthropic endeavors, its chairman Lim Boon Heng said on Sept 23.
The sum will be used as concessional capital, which means that Temasek will channel the funds under terms that are more favorable than typical market loans to finance such projects.
In doing so, Temasek also hopes to draw additional capital from sources that might otherwise be hesitant to fund these projects, including commercial investors and other concessional financiers.
The funds will come from Temasek's community gifts, which are philanthropic in nature and meant to create impact across generations, aligning with the company's goals.
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