Managed by leading infrastructure investor QIC, a key focus of the investment will be infrastructure supporting the energy transition, including smart metering, decarbonisation of transport and renewable generation.
The CEFC commitment is made via contribution to the Fund and co-investment exposure to the Fund’s investment opportunities, and follows on from an earlier $72 million investment in the QIC Global Infrastructure Fund (QGIF I). The Fund will further build on QGIF I’s net zero commitments for Scopes 1 and 2 by 2040, by establishing greenhouse gas emission reduction targets at each portfolio company validated by the Science Based Target Initiative.
Binding sustainability standards will be embedded across the portfolio, lifting decarbonisation standards to target Scope 3 emissions, with portfolio companies working closely with suppliers and providers to drive down emissions across asset value chains.
CEFC Head of Infrastructure Julia Hinwood said: “This investment is about accelerating sectors that are critical to the energy transition and driving change where it matters most. The CEFC is supporting key infrastructure assets that enable decarbonisation and industries that are challenging to decarbonise. By targeting the infrastructure that underpins our energy and transport systems, we’re helping to accelerate the lowering of emissions across the broader Australian economy.”
“Through its commitment to the Fund, the CEFC will contribute capital to transition enabling assets, such as smart metering, decarbonisation of transport, and grid infrastructure – areas that represent emerging opportunities beyond the scope of traditional infrastructure portfolios. By supporting Scope 3 measures, the Fund is taking the next step towards decarbonisation across the entire supply and operations value chain, setting new benchmarks for emissions accountability and climate impact.
“We’re pleased to be working again with QIC to raise the bar for sustainable infrastructure – embedding decarbonisation across the Fund’s portfolio raises sustainability standards across core, and core plus infrastructure asset classes around Australia.”
Decarbonising hard-to-abate sectors—such as heavy industry, transport, and infrastructure is a critical part of Australia’s net zero transition, with transport alone accounting for more than 22 percent of Australia’s national inventory.1
The CEFC has made lifetime equity commitments exceeding $6002 million across infrastructure funds and platforms, influencing national infrastructure assets including airports, ports, energy companies, wireless infrastructure and health services. In addition to its participation in QGIF I, the CEFC has also invested $50 million into the QIC Everyday Retail Fund (QERF), to drive decarbonisation across a portfolio of shopping centres and accelerate energy efficiency across the retail sector. The CEFC was also a cornerstone investor in the world’s first retail property green bond, the QIC green bond in 2019.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.