Temasek raises internal carbon price to USD50 this year.

Singapore state investment company Temasek will raise its internal carbon price from USD42 per tonne of CO2 emitted to USD50 as it moves gradually to reduce the net carbon emissions of its portfolio. The company expects to increase this price progressively to USD100 by the end of the decade. Temasek aims to reduce the net carbon emissions of its portfolio to half the 2010 levels or about 11mn tonnes of CO2e by 2030. It also aims for net-zero carbon emissions by 2050. As at end-March, the carbon intensity of Temasek’s equities portfolio fell from 103 tonnes of CO2e per USD1mn portfolio value to 81 tonnes.