Issue 180: Sembcorp shareholders vote on Alinta deal; new directorship institute launches
This week in ESG: Sembcorp acquisition’s coal exposure raises questions; GDInstitute offers alternative to Singapore Institute of Directors
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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.
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