Measuring and managing our environmental footprint remains a major enabler for change.
We have maintained carbon neutrality as a company for the third year running. The last two years had been unprecedented, where we saw a significant decrease in our indirect emissions relating to our operations, mainly due to COVID-related restrictions on business travel. With progressive easing of global travel restrictions and COVID-19 safe management measures in various countries, we are expecting resumption of these operational activities over the next few years.
We have maintained carbon neutrality as a company for the third year running.
The pandemic has accelerated the transformation in how we work, including the way we hold meetings and conferences. We will continue to scrutinise the need for business travel closely, leveraging technology such as teleconferencing as we seek to reduce our emissions footprint. This will help us achieve an overall reduction in the carbon intensity of our operations as compared to pre-COVID levels.
(for year ended 31 March)
To address our residual emissions, we purchased carbon credits through Climate Impact X, and supported the Tambopata-Bahuaja Biodiversity Reserve Project in the Madre de Dios Region in Peru. The project creates an economic buffer zone of a forested area, covering a total land area of approximately 573,000 hectares and is home to 30 endangered species. It provides technical training to some 330 families on agroforestry activities.
Our employees are critical to driving a more sustainable organisation. To enhance awareness and give them tools, we have provided them with training modules on climate change as well as our updated ESG approach. Our staff can also take part in Project GO!, a series of ecology-focused initiatives. Activities, such as immersive learning sessions or volunteering in environmental activities, are held every month to raise awareness on sustainability-related topics. About two thirds of Temasek staff participated in Project GO!’s virtual events last year.
Our staff also helped to conserve critical habitats by supporting tree planting efforts of partners such as the Global Evergreening Alliance, an international non-profit organisation overseeing grassroots land restoration and sustainable agriculture programmes, or by planting trees themselves. This year, we set and achieved our institutional target of planting more than 400,000 trees.