News

Markets & Investing

Staff Reporter

, Singapore

Published:

3 years ago

247 views

Broker reveals best drivers of top ESG picks

Keppel Corporation and Sembcorp Industries were highlighted firms.

CGS-CIMB reveals its top investment picks for ESG as most of these stocks gained 32.5% and outperformed on the Straits Times Index (7.3%) and SGX SULE (6.3%).

ESG picks were driven by the strong price performance of Keppel Corporation, Sembcorp Industries, and Yangzijiang Shipbuilding, which responded positively to move to more eco-friendly businesses.

Specifically, Keppel Corp divested its offshore and marine arm to Sembcorp Marine, which transferred its legacy rigs to an asset co and focused more on infrastructure and fund management.

Meanwhile, SCI’s divestment of its coal power plant in India whilst adding new renewable capacity investment helped its stock performance.

Yangzijiang Shipbuilding’s maiden liquified natural gas carrier newbuild contract in October 2022 also gave hope for more green vessels in the pipeline.

Follow the link s for more news on

Keppel Corporation

Sembcorp Industries

Yangzijiang Shipbuilding

Straits Times Index

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