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04 Appendices

Appendix C: Environmental Performance and Ecologically Sustainable Development Report 2017-18

In 2017-18, the CEFC committed a record $2.3 billion to new investments in the Australian clean energy sector. These commitments enable the CEFC to directly apply the principles of Ecologically Sustainable Development (ESD), in accordance with section 516A(6) of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

ESD Reporting Requirements CEFC Response
How have the CEFC’s activities accorded with the principles of ESD? By mobilising investment into renewable energy, energy efficiency and low emissions technologies, the CEFC’s activities result in increased flows of funds for the commercialisation and deployment of such technologies, preparing and positioning the Australian economy and industry for a carbon constrained world.
Outcomes contributing to ESD The CEFC furthers and advances the principles of ESD through:
  • The ‘integration principle’: The CEFC demonstrates how financial return can be achieved by investing for environmental and sustainable outcomes. By encouraging the private sector to invest alongside it, the CEFC demonstrates how to integrate economic, environmental, social and equitable considerations into investment decision-making.
  • The ‘valuation principle’: The CEFC’s investment experience can be used to establish a credit history for new technologies or investment classes in Australia. Establishment of a credit history can lead to better valuation and pricing of finance and improved risk evaluation in the clean energy sector.
  • The ‘dissemination principle’: The CEFC gathers evidence based on our project experience and openly shares this with peak bodies, industry, governments and the broader market to demonstrate how those initiatives make good business sense and to encourage the uptake of clean energy technologies.
Figure 23: ESD activities 2017-18


Theme Steps Taken to Improve Performance Further Measures to Improve Outcomes
Energy efficiency and emissions reduction The CEFC has a range of measures in place to increase energy efficiency and emissions reduction, including:
  • open plan offices, allowing for increased occupant density and enhanced control of air conditioning systems
  • energy efficient laptops and monitors, which employees are encouraged to turn off each evening
  • efficiency lighting and controls in our Sydney, Melbourne and Brisbane offices
  • centralised printing facilities, allowing for fewer high capacity multi-function devices (which have energy saving modes when not in use)
  • reduction in inter-office business travel through each office having sophisticated video conferencing facilities
  • electricity consumption and flight use communicated to staff on a quarterly basis to encourage behavioural change
  • Sydney and Brisbane office leases each have a 5 Star NABERS Energy Rating
  • Melbourne office lease is targeting 5 Star NABERS Energy Rating post refurbishment
  • end of trip facilities are provided in Brisbane, Melbourne and Sydney and employees are encouraged to walk, run or cycle to work, or to use public transport
  • no corporate car parking spaces or corporate vehicles provided to employees.
The CEFC is a growing organisation, reflecting the increasing scale and breadth of new investment commitments and the investment portfolio under management.
Opportunities to improve energy efficiency are taken where available.
Reflecting this commitment, the CEFC is pursuing carbon neutrality across our organisational footprint, through the National Carbon Offset Standard for Organisations.
The CEFC’s organisational carbon footprint was independently assessed and audited at 1,105 tCO2-e for our baseline year 2016-17. These emissions have been offset via accredited carbon offset units, with the CEFC seeking to obtain Australian Government National Carbon Offset Standard certification.
The CEFC will undertake annual assessments of its organisational footprint in accordance with the National Carbon Offset Standard and we will offset our carbon emissions with an accredited scheme.
Waste The CEFC has a range of measures in place to reduce waste, including:
  • CEFC office furniture has been selected for its high recycled/ recyclable content
  • As part of the relocation of the Brisbane office, furniture from the previous tenant was reused
  • All offices have waste recycling schemes and staff are encouraged to use the appropriate waste stream to reduce landfill waste
  • In Sydney, organic waste is put into a specific waste stream provided by the building manager
  • 100% recycled printer paper is used
  • Staff are given the opportunity to dispose of e-waste through specialised collection systems offered from time to time.
The CEFC is a growing organisation, reflecting the increasing scale and breadth of new investment commitments and the investment portfolio under management.
The CEFC strongly supports the internationally recognised waste hierarchy and actively promotes this with clients, co-investors and staff. Opportunities to improve waste outcomes are taken where available.
Water The Sydney office has a black water system in operation. The CEFC is a growing organisation, reflecting the increasing scale and breadth of new investment commitments and the investment portfolio under management.
Opportunities to improve water outcomes are taken where available.
Figure 24: Environmental performance reporting

Environmental Performance

The CEFC is an organisation dedicated to facilitating Australia’s transition to a clean energy economy. The CEFC’s investments are directed towards emissions reduction and the promotion of renewable energy, energy efficiency and low emissions technologies, and therefore have a positive environmental impact.

Since its inception in 2013, the CEFC has operated with a commitment to minimise its impacts on the environment.

The CEFC has embedded sustainability as part of its decision making regarding operations and procurement. Reflecting our unique role in the market, the CEFC also works to raise awareness about sustainable business practices in its external engagement activities.

Environmental Performance Indicators

The CEFC is a growing organisation, reflecting the increasing scale and breadth of new investment commitments and the investment portfolio under management. The organisation had 93 employees at 30 June 2018. As far as possible, the CEFC works to reduce the environmental impact per employee.

Theme Indicators Performance 2017-18
Energy efficiency Total consumption of energy: includes energy consumed in CEFC office tenancies in the performance of CEFC operations. Electricity consumed/purchased for CEFC operations:
  • 145,277kWh/pa
Excludes travel in electric vehicles and trains and electricity consumed by staff working offsite.

Gas purchased/consumed ($/MJ): NIL.

Excludes gas-powered travel and gas consumed by staff working offsite.

Total energy consumed/purchased per employee/pa:
  • 5,876MJ
  • $419.34
  Total consumption of green energy: includes the purchase of energy from sustainable sources. Green Power consumed/purchased ($/kWh) during the reporting period from 14 July 2017 to 13 July 2018:
  • 54,093kWh/pa
The balance of emissions produced by electricity to be offset via carbon offsets.
  Total consumption of energy: includes transportation cost and distance travelled for vehicle and air transport respectively for the function of the agency to perform its duty. Vehicle expenditure for the period:
  • $163,128
Includes taxis, car rentals and train fares for staff when working offsite. The CEFC does not provide corporate vehicles.

Distance travelled by air for CEFC work-related purposes:
  • 1,802,211km
Water Total consumption of water: includes all water consumed when undertaking the functions of the agency Water purchased/consumed ($/litre):
  • Unknown*
Waste Total waste production: includes all waste (i.e. unwanted by-products) produced when undertaking the functions of the agency Waste produced (tonnes):
  • Unknown*
Greenhouse gas emissions Total carbon emissions of agency under operational control and quantity offset Greenhouse gases produced (tonnes):
  • NIL
All emissions produced by the CEFC are to be offset via carbon offsets.
Figure 25: Environmental performance indicators

* As a tenant in each of our office facilities, the CEFC does not have a means to capture data to this level of specificity.