Friends,

Ladies and Gentlemen,

Good morning, and thank you all for being here with us today. 

The theme for this inaugural Strategy Collective is Planet Action. We are depending on your collective experiences and leadership strength to shape better businesses and better regulations for a better world. 

Genesis of Temasek Trust & Temasek Foundation

Let me first explain the difference between Temasek Trust and Temasek Foundation – many of you have asked about this. I will next cover their desire to partner corporate Singapore, especially to address the climate tsunami that confronts humanity. 

Many of the storied businesses here today are party to Singapore’s economic development and success.    

Singapore’s exemplar reputation creates a halo for Singapore enterprises. Conversely, Singapore companies add to or subtract from Singapore’s standing on the global stage. Collectively, we shape Singapore’s economic DNA.

Like individuals, companies are more than just about earning a living.  

We each have our own culture that defines who we are. The values we stand for help us recruit like-minded people who can build successful enterprises that last generations. 

Hence, over 20 years ago, Temasek started a policy to set aside a share of its economic returns to invest in the larger good.

Investing in the larger good is very different from financial investing, so it took a few more years to establish Temasek Trust and Temasek Foundation. 

Temasek Trust looks after financial assets to sustain and multiply impact. Temasek Foundation curates and develops programmes to catalyse good. Put simply, one manages money, the other spends it, hopefully both will do so wisely, with an eye for the longer term good.

Temasek’s donations are mostly in term endowments – 4% of the principal sums are distributed annually, with the flexibility to disburse up to 100% if needed.

The first term endowment started with 500 million Singapore dollars in 2007, to support development in Asia through education, healthcare, and research. Two years later, another 100 million Singapore dollars was gifted to uplift and rebuild lives in Singapore. 

Since its inception, Temasek Foundation has touched over 3 million lives^[1] through its partnership programmes.  These ranged from STEM education and skills training, to multi-year pilots for mothers and their young children.

In Singapore, over half of the Foundation’s pilots have been mainstreamed.  An example is the human milk bank at KK Hospital.  This pilot has sharply reduced the mortality of premature babies from gut infection. It is now adopted by MOH as a national programme. Such successful pilots are shared regionally, or internationally with partners like WHO. The Foundation has just been invited to be a non-state actor in the WHO family.

Separately, Temasek Trust has been actively promoting new models for doing good. For instance, ABC Impact marries investment for returns with impact for good, while Philanthropy Asia Alliance is catalysing partners and partnerships for solutions in Asia.

Planet, People, Peace & Progress through Partnerships

Today, 17 years later, the mandate of the Trust covers the 4 Ps of Planet, People, Peace, and Progress, with the 5^th P of Partnership.

The focus of today’s event is on Planet Action.

Why?

Most of you already have CSR programmes in place.

However, the growing gigatons of CO₂ and other greenhouse gases are still spewing into our air.

Time is running out.  

We must tackle CO₂ and methane emissions more forcefully.

Businesses must act decisively for a cleaner and cooler Earth. Companies have the capabilities, and organisational skills to systematically drive, develop, and implement planet-friendly innovations.

Moreover, longer-term returns will be higher if we eliminate CO₂ and other emissions sooner than later.

Conclusion

Ladies and Gentlemen,  

The industrial age began less than 200 years ago^[2].

Today, ordinary citizens can enjoy modern comforts, care and conveniences that even the richest kings and emperors could not have imagined just 200 years ago. This broad and rapid rise in living standards has been fuelled by affordable energy and rising CO₂ emissions.

We will soon hit the point of no return for human civilisation, unless we bite the bullet, step out of our comfort zones, and act boldly to bend down the curves of the rising global emissions and rising average temperatures.

I hope this Forum will renew and sharpen your resolve to build better.

To this end, I urge you to consider putting aside 2-5% of your annual economic returns to re-invest into the larger good, especially to neutralise CO₂ emissions. 

In the grand scheme of things, Temasek Trust and Temasek Foundation are much smaller than any one of the companies or agencies in this room. But I know that both the Trust and the Foundation will do their utmost to work with you for a better and cooler world.

Thank you.