SINGAPORE (Nov 12): Singapore state investor Temasek Holdings Pte will start reporting its air miles, water, paper and electricity usage from this financial year, according to Chief Executive Officer Ho Ching.

“We encourage others to join us to report electricity and water consumption, as well as any direct emissions,” she said at a summit in Singapore Tuesday.

Ho also reiterated the group’s commitment to “halve the greenhouse gas emissions of our entire portfolio by 2030” and said Temasek would study how it can shape a carbon neutral portfolio “sooner than later.”

“The biggest challenge in the coming decade is to reduce the greenhouse gases, like CO2, or methane,” she said. “The risk of stranded assets is real. Ask any coal-fired power-plant owner in the U.S., and now increasingly, in India.”

Temasek is pushing clean energy and ESG -- environmental, social and governance -- initiatives, saying last month it’s considering setting up a new unit to house renewable power projects as it increasingly eyes investments outside of fossil fuels.

Its stance on ESG issues mirrors many other large global investors that now actively favor sustainable deals. People familiar with the matter said in October that Temasek had decided against investing in Saudi Aramco’s initial public offering, in part over environmental concerns.

Temasek is one of the world’s largest deal-makers, investing $24 billion in the financial year ended March alone across a range of asset classes. About 3% of its portfolio is tied up in energy and resources and its ability to invest for the long term makes it an ideal shareholder for many companies.

The move not to back Aramco doesn’t preclude Temasek from making other potentially contentious investments in the future. It’s a legacy investor in oil-rig builder Keppel Corp., which it plans to take control of in deal worth about $4 billion.

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