The Temasek Shophouse, a 25,000 square feet co-working hub in Orchard Road for social enterprises was launched on Monday (June 3) by Senior Minister Tharman Shanmugaratnam. Organisations that want to create social impact can use Temasek Shophouse to brainstorm ideas, hold project meetings and network with like-minded collaborators. The space serves as the new office for non-profits Temasek Trust, Temasek Foundation and the Stewardship Asia Centre. It also houses the new ABC World Asia Fund, a private equity fund set up by Temasek Trust to invest in companies committed to making social or environmental impact in South Asia, South-east Asia and China. Mr Tharman said innovation that can make a meaningful impact on sustainability will be critical in changing habits and behaviour. He added that these innovations must also make behavioural change appealing to businesses and individuals, or more drastic policy and regulatory actions like "very high" carbon taxes will be needed. It is hoped that the hub will help to build up a social culture of wanting to do good by raising awareness, building networks and promoting active social citizenship.

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The Straits Times