Issue 180: Sembcorp shareholders vote on Alinta deal; new directorship institute launches

Sustainable investing

Sembcorp needs to better address Alinta’s coal business

Shareholders of renewable energy group Sembcorp Industries meet on Friday (Jan 30) to decide on a planned A$6.5 billion (S$5.6 billion) takeover of Australian utility Alinta Energy.

Beyond financials, Sembcorp’s management and board will also have to address concerns about the deal’s impact on the company’s hard-won green credentials. While Alinta has a large renewable-energy pipeline, its existing business includes a substantial coal-fired power segment that will set Sembcorp back on its climate targets.