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02 Governance

Working with the CEFC

CEFC People

While the CEFC has considerable capital to invest, we remain a relatively small organisation in terms of the number of staff. Our staff are largely drawn from the finance and energy sectors, reflecting our specialist investment focus. We aim to recruit and retain people with a shared commitment to accelerating Australia’s clean energy transition. In the market, our people seek to be known as:

  • EXPERT: We have a breadth of expertise across our target sectors, working closely with project partners to deliver clean energy outcomes which make economic and commercial sense while lowering carbon emissions.
  • COMMERCIAL: We take a commercial approach to our activities, delivering a positive financial return on our investments, while also delivering on our public policy purpose to increase available finance for Australia’s clean energy transformation.
  • TRANSFORMATIVE: We operate at the forefront of the finance and clean energy sectors, helping businesses meet sustainability and economic goals and benefit from rapid advances in clean energy technologies.
  • INNOVATIVE: We provide tailored debt and equity finance to businesses and projects which develop and commercialise clean energy technologies at early and later stages of development.

At 30 June 2018, the CEFC had 93 employees, a slight increase on the prior year. As a specialised financier, the CEFC recruits experienced, senior practitioners within each functional area, which is reflected in the average employee age of 42 years.

Our gender diversity remained steady in 2017-18, at 57 per cent male and 43 per cent female. At the CEFC, women make up 35 per cent of all senior management positions, which represents an eight per cent improvement over the previous12 months. This compares favourably to the broader financial services industry, where 33 per cent of senior manager positions are held by women. The proportion of employees born overseas has also remained steady at 40 per cent, including 37 employees from 16 countries, in addition to those born in Australia.

Key organisational tasks include investment origination, transaction execution, portfolio management, legal, finance, compliance and risk management, marketing and communications, investment research, stakeholder relations, human resources and administrative functions.

With the growth of the organisation and its investment portfolio, the CEFC continues to deepen its skills base, as well as prioritise cross-skilling to enhance career opportunities and minimise key person risk.

The CEFC offers flexible work arrangements to all employees, as well as paid parental leave.

Impacting Our Market

The CEFC has a unique role in the Australian economy, with numerous investments breaking new ground in introducing clean energy technologies to new sectors, businesses and projects. At the same time, CEFC staff are often invited to meet with private, government and international organisations to share our successes, experience and insights into this dynamic sector.

The CEFC actively promotes and encourages individual professional development as a core contributor to our market impact, as well as broadening and deepening the skills of our people:

  • CEFC staff participate in site visits from time to time, to learn first-hand about the role of CEFC finance from investors and businesses adopting clean energy technologies.
  • Frequent lunch and learn sessions on market developments and emerging technologies are well attended, with external speakers a regular feature. These sessions provide an important opportunity for CEFC staff to increase their understanding of relevant developments in the clean energy sector, as well as to share our own insights and knowledge with others.
  • In addition, a self-service learning tool, iLearn, gives CEFC employees access to a wide range of online learning modules, with content ranging from induction and compliance to leadership, emotional intelligence, and environmental and sustainability awareness.

Women in Sustainable Finance

The CEFC has maintained a leadership role in the successful development of the Women in Sustainable Finance (WISF) networking group. in 2017-18, some 580 people attended six WISF functions, reaching people in investment funds, banks and environment and sustainable development organisations, as well as corporates, energy and renewable energy companies.

Such events have featured women speakers and are increasingly attracting male attendees. Topics covered included sustainable transport, distributed energy trends, and start–ups in sustainability and bioenergy. Notable achievements included launching the WISF Melbourne and WISF Brisbane chapters and partnering with the Carbon Market Institute’s Women in Climate for a panel discussion on improving diversity in the sustainable finance sector.

Contributing to our Communities

CEFC staff are active in their communities, including participating in sport, fitness, blood donation, fund raising and other events. As part of a staff planning day in Brisbane, CEFC colleagues were pleased to contribute to an initiative to purchase and assemble bicycles for children in need.

Terms of Employment

CEFC employees are employed on individual contracts, with terms and conditions based on the National Employment Standards in the Fair Work Act 2009. The Australian Government Industry Award 2016 covers non-Executive employees. The CEFC Board has approved additional employment benefits, including paid parental leave, purchased leave and study support.

Employee remuneration is determined with reference to market benchmarking data to support the recruitment and retention of employees with the requisite skills to manage the CEFC’s diverse functional areas. Employee remuneration may include a variable compensation component.

Executive remuneration is overseen by the Board People and Culture Committee. Additional information on payments to employees is available in Note 5 in the Financial Statements.

Executive Remuneration and Allowances

The People and Culture Committee is responsible for structuring Executive remuneration, evaluating performance and approving variable compensation payments, which consider corporate and individual performance targets.

During 2017-18, Total Annual Remuneration Payments (TARPs) for the CEFC Executive members included base salary, superannuation and variable compensation. For additional information, refer to Note 2.1 and Note 5.2 in the Financial Statements.

Executive travel and expenses claims are usually dealt with on an indemnity and reimbursement basis. For additional information, refer to Indemnities and Insurance Premiums for Officials.