SINGAPORE - Singaporean state-owned investor Temasek said on Monday that it is setting aside S$100 million ($77.43 million) as a community gift to support climate action initiatives that will accelerate the green energy transition.

The funds will come from Temasek’s community gifts, which are philantrophic in nature. Read more at straitstimes.com.

It aims to help achieve the 1.5 degree climate goal. Temasek Holdings has committed $100m from its community gifts to fund climate action initiatives, providing financing to address market barriers, announced Chairman Lim Boon Heng during the firm's 50th anniversary dinner.

The concessional capital will provide “more flexible, patient and favourable financing” to support marginally bankable projects that contribute to climate action, says Temasek's chairman Lim Boon Heng.

Temasek, a Singaporean state-owned investor, announced a S$100 million community gift named 'Concessional Capital for Climate Action' to support clean energy projects in Asia. The fund aims to provide flexible financing for marginally bankable clean infrastructure projects.

TEMASEK will be setting aside S$100 million to be deployed as concessional capital for climate-related projects, announced Lim Boon Heng, chairman of the Singapore investment company, on Monday (Sep 23) at its 50th anniversary dinner.

Singaporean state-owned investor Temasek said on Monday that it is setting aside S$100 million ($77.43 million) as a community gift to support climate action initiatives that will accelerate the green energy transition.

Singapore's state investor Temasek announced that it has committed S$100 million towards combating climate change.