Steward

Enabling a Better World

Our not-for-profit gifts to Temasek Trust enable Temasek Foundation and other non-profit entities to connect people, uplift communities, protect our planet and advance capabilities, in Singapore, Asia and beyond.

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We believe in seeding social capital to transform lives for a more inclusive and resilient world, so every generation prospers. Since 2003, we have been setting aside a portion of our net positive returns above our risk-adjusted cost of capital for community gifts.

These are approved by the Temasek Board before being gifted to Temasek Trust, and then disbursed to and administered by our non-profit ecosystem consisting of Temasek Foundation (TF), Temasek Life Sciences Laboratory, Stewardship Asia Centre, and Mandai Nature. The gifts include 24 programme endowments which have impacted about 2 million lives across Singapore and Asia.

We believe in seeding social capital to transform lives for a more inclusive and resilient world, so every generation prospers.

Cognisant that the pandemic has brought about unprecedented hardship and exacerbated inequalities, we are committed to doing our part to uplift communities where we can.

Over the past year, we continued to focus our attention on supporting COVID-19 initiatives in five key areas: testing & diagnosis, containment & contact tracing, care & treatment, protection & prevention, and enablement.

Since 2003, we have been setting aside a portion of our net positive returns above our risk-adjusted cost of capital for community gifts.

We worked in partnership with governments, our portfolio companies, and many others to do right and do good, leveraging our resources and collective strengths.

Since 2003, we have been setting aside a portion of our net positive returns above our risk-adjusted cost of capital for community gifts.

Our efforts have evolved with the pandemic. While we had tried to bridge supply gaps in the early days, we are focusing now on helping our communities cope with the highly transmissible Omicron variant and living with COVID-19 as an endemic disease.

In Singapore, we worked with TF to distribute reusable and antimicrobial AIR+ masks that have N95-grade filtration and Particle Filtration Efficiency of more than 95%. Since the start of the pandemic, we have distributed over 153 million disposable and reusable masks to residents in Singapore. The masks were collected from convenient locations all over the island such as vending machines, shopping malls, supermarkets, bus interchanges, community centres, Residents’ Committee centres and recreation centres for migrant workers as well as the Singapore University of Technology and Design, and Temasek Shophouse. TF also distributed more than 1 million oximeters and over 900,000 bottles of povidone-iodine mouth gargle to residents, targeting more vulnerable groups.

Since the start of the pandemic, we have distributed over 153 million disposable and reusable masks to residents in Singapore.

To support the treatment of vulnerable seniors with respiratory issues, TF worked with the Agency for Integrated Care to distribute around 680 medical-grade oxygen concentrators to around 100 community health providers, such as nursing homes, hospices, community hospitals and Public Health Preparedness Clinics. This helped to alleviate the overall burden on Singapore’s healthcare system.

Similarly, we encouraged the public to get vaccinated by making the vaccines available to more people and raising awareness about the benefits of getting vaccinated. Over 900 Pioneer Generation, Merdeka Generation and Community Health Assist Scheme cardholders, have enrolled to complete their COVID-19 vaccination with the Sinopharm vaccine donated by TF. All of them have received at least one dose to date. Since the start of the pandemic, we have regularly placed advertisements in media channels in Singapore to provide updated and evidence-based information on vaccinations.

To reduce the strain on Singapore’s healthcare system due to the surge in cases from the Omicron variant, we worked with our partners The Ascott Limited, Constellar, Raffles Medical Group, and Surbana Jurong, to transform four Singapore EXPO exhibition venue halls to serve as COVID-19 Treatment Facilities (CTF). The CTFs, which housed more than 2,500 beds and were operational from August 2021 to February 2022, admitted COVID-19 patients who did not require acute care in hospitals. Our portfolio company Sheares Healthcare also established another CTF at Sengkang General Hospital in October last year.

We worked with partners in the construction, marine and process sectors on a pilot programme to bring migrant workers to Singapore, while minimising the number of imported cases. The initiative, which was launched in July 2021, saw migrant workers being quarantined at dedicated facilities in their home countries and going through a series of PCR, ART and serology tests before arriving in Singapore where they were further quarantined and tested.

Beyond Singapore, we supported the global COVID-19 response with donations of essential supplies, including masks, personal protective equipment, PCR test kits and medical equipment.

Last year, TF donated more than 7.6 million reusable adult and children’s masks to Johor, Malaysia. Facilitated by the Indonesia Embassy in Singapore, the Foundation partnered the Indonesian business community in Singapore and Singapore businesses to donate more than 12,500 oxygen concentrators to Indonesia. TF also worked with the Philippine Embassy in Singapore and other partners to donate dialysis machines and masks to the Philippines. In recognition of TF's efforts during the pandemic, TF has been awarded the 2021 Presidential “Kaanib ng Bayan Award” by the Office of the President of the Philippines.

To date, TF has provided COVID-related supplies to some 40 countries in and around the region, as well as further afield in Latin America and the Middle East. Donations included masks, personal protective equipment, PCR test kits and medical equipment. These included more than 9,500 kits which enabled over 1.6 million PCR diagnostic tests, and more than 20 PCR testing machines to expand lab test capacity and capability. We contributed over 36,000 units of oxygen support and ICU-grade ventilation equipment, over 40 million surgical, N95, KN95 and FFP2 masks for hospital and frontline workers, and some 26 million reusable masks to the community.

Financial Oversight and Governance

Established by Temasek Holdings in 2007, Temasek Trust (TT) is a steward of philanthropic assets, gifts and endowments from Temasek. It strives to provide sustainable funding for the long term well-being of our communities. It is a Company Limited by Guarantee, set up to receive funding from Temasek and other donors. TT provides governance and financial oversight of non-profit endowments and other community gifts from Temasek.

TT distributes a steady and sustainable baseline 4% of endowment principal annually. This provides a predictable multi-year funding source for our non-profit ecosystem to carry out their programmes to connect people, uplift communities, protect our planet and advance capabilities. Where the situation requires, TT may distribute above 4% of the endowment principal, subject to approval by TT Board.

Temasek Trust provides governance and financial oversight of non-profit endowments and other community gifts from Temasek.

Beyond financial management, TT also aims to pioneer and enable new pathways for philanthropy in Asia.

Throughout the COVID-19 pandemic, TT’s oscar@sg fund supported ground-up initiatives that serve the needs of the vulnerable communities in Singapore affected by the crisis. Such self-help initiatives go a long way to foster ownership, sustainability, care, assurance and resilience, for a more inclusive society with a spirit of active citizenry. The fund has enabled more than 300 projects to-date and touched more than 1 million lives.

TT manages the Temasek Shophouse as a social impact hub to encourage, enhance, and elevate initiatives for the common good. For the past two years, the Shophouse has hosted more than 90 events, including workshops and exhibitions on meaningful subject matters such as sustainability and mental health.

TT’s strategic collaboration with UNDP SDG Impact, an initiative by the United Nations Development Programme that aims to accelerate investments toward achieving the UN Sustainable Development Goals by 2030, announced in May 2021, enables the building of knowledge assets and tools which cater to the needs of investors and businesses in Asia. An investor map for Indonesia, which highlights impact business models and investment opportunity areas in Indonesia, was launched in March 2022. TT remains steadfast in its commitment towards sustainability and impact investing in Asia.

Temasek Foundation (TF)

TF, a Company Limited by Guarantee, supports diverse programmes to strengthen social resilience, foster international exchange and regional capabilities, advance science, and protect the planet.

Strengthening Social Resilience and Uplifting Lives

Both in and out of Singapore, TF helps to build a more resilient, harmonious and inclusive society.

Its outcome-focused programmes help to enhance our social fabric by enabling individuals, strengthening families and uplifting communities, with a special focus on at-risk families and their children.

TF pilots programmes and research to benefit current and future generations, and also funds programmes that promote culture, heritage and values for a more inclusive society.

Fostering International Exchange and Enhancing Regional Capabilities

TF connects people to promote dialogues, mutual understanding and a more inclusive worldview.

Such programmes also advance capability and capacity, in areas such as healthcare, education, public administration, urban management, and disaster response. They bring together participants particularly from the region, and the wider Asian community, to share ground experiences and best practices, and to support networks of cooperation.

Advancing Science and Protecting the Planet for a Sustainable World

TF champions sustainability and supports translational research to help innovators produce goods and services that will benefit the community.

It supports solution-oriented development programmes that contribute to improving liveability through various global grant calls.

These programmes strengthen research capabilities, promote science education, and encourage cross-functional collaboration among investors, businesses, institutions, agencies and academia in areas such as climate change and healthcare.

Mandai Nature

Temasek and Mandai Park Holdings established Mandai Nature to advance efforts to prevent species extinction, protect habitats and benefit people in Asia.

Mandai Nature aims for nature and people to thrive in healthy ecosystems and vibrant communities, both in Singapore and Asia. It will address issues of wildlife trade and fragmentation of habitats, protect and restore forests, mangroves and peatlands, and develop sustainable economic opportunities for local communities through tourism and agriculture.

Temasek Life Sciences Laboratory (TLL)

TLL was established in 2002 as a research institute to harness the power of life sciences to improve lives. With close to 200 researchers, TLL undertakes biomolecular science research and applications to benefit people in Asia and beyond.