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ESG Insider: A podcast from S&P Global

Why Singapore's sovereign wealth fund takes a nuanced approach to sustainability

Nov 29, 2024
De Rui Wong, Senior Vice President at GIC, Singapore's sovereign wealth fund, discusses the fund's unique approach to sustainability. He emphasizes a tailored strategy, recognizing that companies decarbonize at varying rates based on location and regulations. Wong highlights climate change as a new reality that demands adaptive investment strategies, especially in real estate. He also touches on the social implications of climate transitions, advocating for reskilling workers to support a just energy shift. A multifaceted view of climate finance emerges!
28:49

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • GIC emphasizes a nuanced, company-specific approach to sustainability, reflecting the varied rates of decarbonization across different sectors and regions.
  • The sovereign wealth fund actively assesses physical climate risks in its investments, recognizing them as both challenges and opportunities for resilience-focused technologies.

Deep dives

Climate Finance Goals and Strategies

The recent UN Climate Change Conference, COP29, led to significant commitments regarding climate finance, including a Collective Qualified Goal that aims to provide $300 billion annually in public financing to developing countries by 2035. This goal is part of a broader objective of mobilizing $1.3 trillion from both public and private sources to support sustainability efforts. At the forefront of these discussions is the importance of climate finance, particularly as this year's COP has been dubbed the Finance COP. Financial institutions are increasingly engaging with climate finance strategies, which focus on the integration of sustainability practices into their investment frameworks.

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