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2.0

Investment Report

GIC’s mandate is to preserve and enhance the international purchasing power of the reserves placed under our management by delivering good long-term returns above global inflation.

3.0

Managing the Portfolio

GIC’s investment strategy is to build a portfolio of asset classes and strategies that generates good long-term real returns, while adhering to the Client’s (the Government of Singapore) risk parameters.

4.0

Investing Sustainably

Sustainability is integral to GIC’s mandate, which is to preserve and enhance the international purchasing power of the reserves under our management. GIC is committed to enabling the global transition to a net-zero economy through our investments and operations. To do this, we actively engage with portfolio companies on their climate transition plans and fund the adoption and scaling-up of green technologies.

6.0

Governance

The Government, represented by the Ministry of Finance (MOF), sets the investment objective, risk parameters, and investment horizon for the portfolio. It also ensures a competent board of directors is in place.

7.0

Our People, Culture, and Community

GIC employees are guided by our PRIME values: Prudence, Respect, Integrity, Merit, and Excellence. These serve as our organisational compass and GICians are expected to live up to them.

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  1. 1

    World Meteorological Organization (12 January 2024). “WMO confirms that 2023 smashes global temperature record.”

  2. 2

    Statista (2024). Mean sea level variation worldwide from 1993 to 2023.

  3. 3

    Mean reversion refers to the financial theory that an asset's price will tend to converge to the average price over time.

  4. 4

    In 2023, a challenging macro environment marked by higher interest rates and a cautious private investment market raised the hurdles for deployment in the climate tech space. 2023 investment was down 30% compared to 2022, marking the first annual investment and deal count declines in climate tech since 2020. CTVC by Sightline Climate (2025, January 5). $32bn and 30% drop as market hits pause in 2023.

  5. 5

    CTVC by Sightline Climate (2023). What the FOAK?