Gunung Capital eyes sustainability investments beyond steel industry

Many companies are gunning for a “low-emission” future as they grow their business. However, this process starts at home for Gunung Capital; a Singapore-based asset management firm focused on impact investments guided by environmental, social and governance (ESG) principles.

Gunung Capital is linked to the Gunung Steel Group, Indonesia’s leading steel conglomerate whose flagship entity is the listed Gunung Raja Paksi (GRP) which has increased its market value to some $740 million today by riding on Indonesia’s industrialisation and infrastructure growth which goes hand in hand with higher demand for building materials.

Kelvin Fu, Gunung Capital’s co-founder and managing partner, says the firm is working on shifting GRP’s manufacturing activities towards “low-carbon steel”. This means producing steel via electric arc furnaces or recycling scrap metal, as opposed to the heavily carbon-intensive method of blast furnaces. “We are currently in the minority, as only 20% of the world chooses to use electric arc furnaces to procure low-carbon steel at present,” says Fu in an interview with The Edge Singapore.

This article was published on with the title “Gunung Capital eyes sustainability investments beyond steel industry.”




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