Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale - Printable Version

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Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale - Scythian - 09-11-2022

Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale
If Sembcorp financed the deal, can it really claim a smaller carbon footprint? 

BySheryl Tian Tong Lee and Stephen Stapczynski+Follow
9 November 2022 at 11:56 GMT+11
One of Singapore’s best-performing stocks this year — an energy company backed by state investor Temasek Holdings Pte — is under fire for trying to avoid higher interest payments to bondholders that kick in if the company fails to meet emissions targets.

In order to reduce its official carbon footprint, Sembcorp Industries Ltd. sold two coal-fired power plants to an Omani group for $1.5 billion. The company told shareholders that the sale would lower its greenhouse gas emissions intensity by 38%, more than enough to dodge the penalties attached to the company’s sustainability-linked bonds.

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RE: Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale - Scythian - 09-11-2022

An Exposed "Sembcorp Industries Ltd" avoided paying higher interest penalty stipulated in bond issue..

In other words, caught cheating while sneak away..

There are many ways to skin a 🐈 cat.
🐱

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RE: Top-Performing Singapore Firm Accused of Greenwashing in India Coal Sale - Scythian - 09-11-2022

.
Singapore abides by International Law and The Rules of Law..

Really?

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