Singapore's Green Investment Fund Grows by 7%

A big investment fund owned by the Singapore government said its green portfolio grew by about 7% to S$49 billion (around $38 billion U.S. dollars). The fund is called Temasek, and it announced the news on Wednesday, July 8. Temasek has been putting more money into clean energy businesses, like solar power and better electric grids. The fund wants to help the world use less fossil fuel and create fewer greenhouse gases. However, Temasek also admitted that one of its major climate goals will likely not be met on time.

Temasek invested S$5 billion into green businesses during the year that ended on March 31, 2026. The portfolio — which is the total collection of companies it has invested in — went up by S$3 billion compared to the year before. Some of that growth came from new investments, while some older investments were sold off, including a company called O2 Power.

The money went into several different types of clean energy companies. One is CleanMax, a renewable energy firm based in India. Another is Luminace, a solar and energy platform. Temasek also invested in Amperesand, a company that works on electric grid technology in the U.S. and Singapore, and Commonwealth Fusion Systems, a U.S. company working on fusion energy, which is a very clean but still-developing form of power.

Out of the S$49 billion total, about S$42 billion was in companies whose products help lower pollution, protect nature, or help more people access economic opportunities. The remaining S$7 billion was in companies that currently produce more emissions but are working to change their products and services to be cleaner. Temasek sees both types of investments as part of its overall climate strategy.

Temasek still plans to have a net-zero portfolio by 2050, meaning it wants the companies it invests in to release no more carbon than they absorb. However, the fund said it is unlikely to hit its earlier goal of cutting emissions to 11 million tons by 2030. It blamed rising electricity demand, higher building costs, shifting government policies, and investment in industries that are hard to make clean quickly.

The companies in Temasek's portfolio currently release about 21 million tons of carbon dioxide each year, which has stayed flat recently but is still 30% lower than in 2020. Temasek also warned that emissions could rise slightly in the short term as a new company, Alinta, is added to its records. Jasmine Teo, a leader at Temasek, explained: 'Real-world transition can sometimes increase absolute emissions in the short term.' She means that big changes to the energy system can temporarily cause more pollution before things get better.