CEFC finances green ambitions of AFR Sustainability Leaders award winners
15 July 2024
The CEFC has congratulated the companies listed in the AFR Sustainability Leaders awards, including Orica which was named Australia’s most sustainable company, as well as taking out the Resources, Energy and Utility category.
Orica was recognised for completing the biggest emissions abatement project in the Australian chemicals sector, the Kooragang Island Decarbonisation Project. The CEFC helped finance this ambitious work to slash nitrous oxide emissions at Orica’s three NSW nitric acid plants.
Other winners included:
- TGE (Logistics and Transport): A $30 million CEFC commitment is helping TGE to increase the number of electric trucks in its fleet.
- Australian Unity (Banking, Super and Financial Services): The CEFC was a cornerstone investor in the Australian Unity Green Bond Fund.
- Cbus Property (Property and Construction: The CEFC supported the development of the CBUS Collins Arch precinct to world leading sustainability standards.
The AFR Sustainability Leaders 2024 list celebrates organisations that are investing in sustainable innovations that lead to environmental and societal benefits alongside their business outcomes.
TGE ESG director Heather Bone told the AFR that the cost of transition was prohibitive without support from green financiers like the Australian Renewable Energy Agency and CEFC providing funding at a lower rate.
“The cost of these trucks is more than double that of an alternative diesel vehicle,” she says. “Without newer funding opportunities and ‘greener’ financing, it would be extremely difficult to drive decarbonisation change,” she said.
Judges from the AFR and Boston Consulting Group looked for entries that positively reinforced links between sustainability benefits and stakeholder value creation. Companies that created the most value were those that addressed issues material to their core business and described how the sustainability initiative created strategic advantage and financial upside.
Australian and New Zealand organisations, and Australian and New Zealand offices of global organisations were invited to submit an innovation that was embedded in the business, contributed to better environmental and social outcomes, and created tangible business value.
