Keppel aims for at least 20% reduction in energy use intensity for assets under sustainability fund strategy

[SINGAPORE] While urban rejuvenation often involves a new build from scratch on vacant, undeveloped land, Keppel has taken a different tack with its sustainable urban renewal (SUR) strategy.

The real asset manager and operator acquires older buildings and retrofits or redevelops the brownfield assets, with the aim of the strategy to reduce energy use intensity by at least 20 per cent on a portfolio basis, compared to pre-retrofit levels.

“Keppel’s SUR strategy is one of the few funds in Asia-Pacific to embed clear sustainability targets at the fund level. Our approach makes decarbonisation and sustainability integral to the investment thesis itself,” said Christina Tan, Keppel’s chief executive officer for fund management and chief investment officer, in an interview with The Business Times.