Singapore-based GenZero has published its inaugural sustainability report, in which it has announced a target to achieve at least 7.0 million tonnes in cumulative direct realised climate impact by March 2028.
GenZero, an investment platform launched by Temasek in June 2022 to accelerate global decarbonisation, said that as of the end of last year, it had achieved 3.0 million tonnes of direct realised climate impact and 12.9 million tonnes when including both direct and indirect impacts adjusted for shareholding.
Investing in a Climate-Resilient Future
In its sustainability report, entitled Investing in a Climate-Resilient Future, GenZero said that its 2028 target marks an ‘important step forward’, adding that it is one of the first investment firms to set a ‘hard, stake-adjusted target’ for realised climate impact. It added that it is keen to contribute to global industry dialogue on climate impact measurement.
“As the industry navigates evolving impact methodologies, GenZero is putting a marker for transparency and rigour,” said Frederick Teo, CEO of GenZero. “We are not just investing in climate solutions, we are holding ourselves accountable for delivering measurable outcomes.
“Our stake-adjusted, short-term target underscores this commitment and reinforces the importance of credible, industry-wide impact measurement.”
Since its formation, GenZero has invested in some 24 ventures across 17 countries, focusing on three core areas: nature-based solutions, technology-based solutions, and carbon ecosystem enablers.
As it noted in its report, 752,184 hectares of land are now under sustainable management as a result of its nature-based investments, with most of its investment targets having implemented ESG policies, assigned dedicated sustainability personnel, and introduced board-level insight of potential ESG risks.
‘Data-backed transparency’
“Our report reflects our belief that data-backed transparency is key to building trust and scaling impact,” added Teo. “Climate leadership is not just about where we invest, it is about how we measure success and hold ourselves to account.”
GenZero added that its report aligns with established global frameworks including the IFRS S2 Climate-Related Disclosures, UN Sustainable Development Goals, the Operating Principles for Impact Management, the Greenhouse Gas Protocol, and the Partnership for Carbon Accounting Financials. Looking ahead, the firm plans to adopt reporting standards from the International Sustainability Standards Board and the Taskforce for Nature-related Financial Disclosures. Read more here and here.
