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IFM receives $150 million commitment from CEFC
IFM Investors will work with the Clean Energy Finance Corporation (CEFC) to reduce carbon emissions across Australian infrastructure assets, after the CEFC made a $150 million commitment to the IFM Australian Infrastructure Fund.
The fund targets emissions reduction and energy initiatives across assets including Ausgrid, Brisbane Airport, Melbourne Airport, Sydney’s Port Botany and the Port of Brisbane.
CEFC infrastructure lead Julia Hinwood said the initiatives may include installing on-site solar and battery storage solutions, and conversions to electric vehicles.
“They are also likely to involve using smart management systems which monitor and assist with reducing energy consumption and optimising logistics and supply chains,” she said.
“We’re looking forward to drawing on our clean energy finance experience to help IFM drive carbon emissions reductions across its assets through an innovative approach to planning, construction and operations.”
CEFC CEO Ian Learmonth said his organisation would work with IFM Investors to target comprehensive and sustained improvements to the carbon footprints of some of Australia’s most important infrastructure assets.
“We will also work with IFM Investors to enhance benchmarks and transparency around infrastructure emissions, so that we can deliver a step change in the emissions profile of our national infrastructure,” he said.
CEFC estimates that just a five per cent improvement across the assets in the portfolio would equate to removing 14,775 cars from the road each year or providing electricity to about 7,450 homes a year.
IFM Investors is owned by 27 of Australia’s industry super funds, invests on behalf of six million Australian workers and approximately 15 million pension fund members globally.
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