GIC has appointed Emily Chew because the Singapore sovereign wealth fund’s new head of sustainability.
Chew has held a number of senior sustainability roles during the last decade earlier than becoming a member of the funding entity in June.
Most lately, she was with Morgan Stanley’s accountable investing subsidiary Calvert Analysis and Administration as their govt vp since 2021, after serving as america monetary big’s first world head of sustainability for a yr.
Earlier than Calvert, Chew was the worldwide head of environmental, social and governance (ESG) analysis and integration at Canada-based asset administration agency Manulife Funding Administration and vp of Asia Pacific ESG analysis at world index supplier MSCI.
Chew will lead GIC’s sustainability workplace, arrange in 2022, to drive the combination of sustainability into its investments and company processes. Her predecessor Rachel Teo left the organisation final August, simply over a yr after taking over the newly created place.
In April 2023, Teo co-wrote a paper exploring the likelihoods of the 4 principal eventualities GIC makes use of to evaluate the influence of local weather dangers on their monetary returns – Web Zero, Delayed Disorderly Transition, Too Little Too Late and Failed Transition – enjoying out.
Among the many 4, the report discovered the Too Little Too Late state of affairs to be most possible, adopted by the Failed Transition state of affairs. Each eventualities recommend that buyers have to consider elevated transition and bodily dangers linked to a disruptive low-carbon transition. In the meantime, the Web Zero state of affairs seemed to be extremely unlikely.
Teo, who spent 18 years at GIC, concurrently headed its economics and funding technique division’s complete portfolio sustainable investing. GIC didn’t point out if Chew will even assume Teo’s further job perform, in response to Eco-Enterprise’ queries.
In March, Bloomberg reported that Teo has since been employed by the household workplace of Google co-founder Sergey Brin to assist handle inexperienced investments.
A GIC spokesperson mentioned that Emily and her staff “will spearhead GIC’s efforts to deepen our capabilities in sustainability-related analysis, analyse fast-evolving themes, look at their implications for funding and champion enhancements to our funding processes throughout the enterprise.”
GIC, which manages the Singapore authorities’s overseas property, is likely one of the three entities that handle the nation’s reserves, alongside the nation’s central financial institution Financial Authority of Singapore and state investor Temasek.
Whereas the fund supervisor doesn’t disclose its property underneath administration, analysis agency International SWF estimates it to be at US$769 billion.
