Investing in our net zero transformation
A message from our CEO
By any measure, the 2022–23 year was a momentous one for our climate, for the decarbonisation agenda and for the CEFC.
A new national commitment to reach net zero emissions by 2050, and reduce emissions by 43 per cent by 2030 from a 2005 baseline, spurred an economy-wide sense of urgency around decarbonisation. And the steady drumbeat of technological advance, both large and small, builds confidence we can confront the persistent challenges of decarbonisation.
As CEO of an organisation almost entirely focused on decarbonisation, the intersection of these factors was cause for optimism and action in 2022–23, reflected in the scale and pace of new investments, the diligent management of our $7.7 billion portfolio and our considerable efforts in building market capacity. In challenging market conditions, our teams completed 50 new and follow-on transactions, with CEFC commitments of $1.9 billion contributing to transactions with a total value of $11.7 billion, delivering substantial and targeted investment in our net zero future.
The magnitude of Australia’s net zero emissions goals has necessarily placed emphasis on our ability to deliver in a compressed time frame. We are encouraged by the shared strength of purpose around decarbonisation, and the commitment to accelerated action.
Read more in the Annual Report
Ian Learmonth
CEO, CEFC
Maximising our impact
Our strategic investment priorities identify those areas where we can make the biggest impact, drawing on our investment and clean energy expertise and networks to accelerate decarbonisation efforts.
Decarbonise energy
Drive cleaner, greener energy to underpin the net zero economy
Energy efficiency
Transform energy and resource use, increase energy performance
Natural capital, carbon sequestration
Make better use of our land to close the emissions gap
Emissions abatement
CEFC commitments
Capital deployment
>300
Large-scale transactions
Purpose, experience, commitment
A message from our Chair
From its earliest days, as a $10 billion organisation, the CEFC has drawn its strength from the shared purpose of its teams, reflected in a collaborative culture that extends to the market, industry, regulatory and government agencies with whom we work.
Elevated ambition saw the CEFC complete 50 new and follow-on investments across the economy in the 2022–23 year, despite the ripple effects of a war in Ukraine and the economic, inflationary and supply chain overhang of the pandemic. Notably, our investments attracted a record $5.02 of additional capital for each $1.00 of CEFC capital invested, driving $11.7 billion in additional investment Australia-wide.
Read more in the Annual Report
Steven Skala AO
Chair, CEFC
Record private sector leverage
Special investment programs
Our investments are delivered via the CEFC General Portfolio and five investment funds. Our tailored investment solutions may be in the form of direct debt or equity; listed and unlisted funds; sustainability-themed bonds and small-scale asset finance delivered via our co-financiers.
Portfolio outcomes
The CEFC has a substantial and diverse investment portfolio with $7.7 billion on-risk commitments at 30 June 2023. We actively manage our investments, consistent with our commitment to accelerating decarbonisation while investing to deliver a positive return across our portfolio.
In the 2022-23 year $1.2 billion in capital was returned to the CEFC, taking lifetime repayments and capital returns to more than $4.5 billion, to be available for reinvestment.
Investment portfolio
On-risk portfolio after repayments and capital returns at 30 June 2023
National focus and reach
The CEFC operates with a national focus, with our investment portfolio stretching across Australia, including national and state‑based investments, projects and programs.
Lifetime investment commitments of $12.7 billion to 30 June 2023 included national ($5.8 billion) and state-based ($6.9 billion)
Totals may not add due to rounding. Lifetime figures ore to 30 June 2023.
CEFC Annual Report
2022-23
Accessibility
The CEFC is committed to providing websites that are accessible to the widest possible audience. To view our 2022-23 Annual Report online, please visit the Transparency Portal.
Acknowledgement of Country
The CEFC acknowledges the Traditional Owners and Custodians of this land, and we pay our respects to all Elders, past and present. We recognise their continuing connections to country, water and culture.