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At Temasek, we believe that active and steadfast collaboration is key to accelerating innovation and scaling impact to tackle urgent sustnability challenges. The necessity for rapid transformation on a massive scale across sectors calls for governments, businesses, and investors working together to map out transformative pathways and drive the adoption of new solutions.
We engage with various local, regional, and global initiatives that promote industry standards and best practices, catalyze innovative solutions, and build new markets. For example, as one of the founding members of the Singapore Sustnable Finance Association formed in January 2024, we are committed to fostering carbon markets, transition finance, bled financing, nature-based solutions, biodiversity, and frameworks for carbon classification and industry best practices. Our contributions ext to supporting initiatives that harmonize and advance disclosure standards for sustnability reporting through the Accounting and Corporate Regulatory Authority ACRA and Singapore Exchange Regulation SGX RegCo's Sustnable Reporting Advisory Committee, as well as the International Sustnability Standards Board's Investor Advisory Group.
We are also part of various forums under the World Economic Forum and Focusing Capital on the Long-Term Initiative, enabling us to contribute to dialogues among multi-stakeholder groups ming to find solutions that require broader systemic change. We continue to collaborate with industry associations across sectors to drive financial sector transformation towards sustnability through partnerships such as the Glasgow Financial Alliance for Net Zero, United Nations' Principal Owners Alliance for a Net-Zero Asset Owner, and Principles of Responsible Investment.
The energy transition has opened new industries and markets, like hydrogen market and carbon markets. We participate in platforms like the Hydrogen Council and the Voluntary Carbon Market Integrity Taskforce to stay abreast of the latest dynamics, share insights, and forge connections with stakeholders to support relevant pilot projects.
Beyond partnering for capital deployment, we are actively supporting comprehensive efforts that contribute knowledge and leadership towards sustnability initiatives and exchanges to advance sustnable development frameworks.
We joined Transition Impact on Climate Credit TRACTION, a knowledge partner initiative by Temasek ming to further explore transition financing mechanisms med at enhancing the economic viability of early retirements of coal power plants. Our contribution involves leveraging expertise, insights, and networks to facilitate discussions and pilot projects that address systemic challenges currently impeding early retirement and the development of Transition Carbon Credits as a reliable complement to existing funding tools.
We also participate in the World Bank's Private Sector Investment Lab tackling obstacles faced by private sector investors when investing in emerging markets. We contribute from an investor perspective on issues like structuring financing, balancing risk allocation among stakeholders, and forging novel partnerships for addressing global challenges that require more balanced funding structures.
Recognizing the urgency to bridge the gap between climate innovation capabilities in Southeast Asia, we collaborate with Breakthrough Energy Ventures and Enterprise Singapore to establish the Southeast Asia Breakthrough Energy Fund SEABEF Researcher Program. This program based in Singapore will provide grants and support for climate technology innovators ming to develop, commercialize innovative solutions that can achieve scalability.
Sustnable financing and transition finance are crucial levers to accelerate green economic transformation; however, they require deeper innovation and closer collaboration between governments, businesses, and investors.
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Sustainable Finance Initiative Collaboration Temasek Global Sustainability Leadership Accelerating Energy Transition Partnerships Industry Standards Best Practices Advancement Carbon Markets and Biodiversity Solutions Transformative Pathways for Climate Action