SIA’s decarbonisation tailwinds are Temasek’s burden
While SIA’s decarbonisation ambitions get a formidable lift from the Temasek ecosystem, the airline needs to keep up its ambitions and improve transparency to reduce its exposure to climate risk
[SINGAPORE] A small tweak in Temasek’s latest sustainability report reveals just how much a single airline can weigh on a portfolio’s emissions.
The Singapore investment company’s sustainability report for fiscal 2025 showed total portfolio emissions flat at about 21 million tonnes of carbon dioxide equivalent (MtCO2e). But this year, Temasek broke down that total to show how much is attributable to a single company: Singapore Airlines (SIA), in which Temasek holds a 53 per cent stake.
Singapore Airlines makes up only about 2.5 per cent of Temasek’s S$434 billion net portfolio value, yet accounts for about 43 per cent of its total portfolio emissions. The 9 MtCO2e of emissions attributable to the SIA stake in FY2025 is more than the 8 MtCO2e attributed the year before.
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