Our new commitments covered hospitals and healthcare, shopping centres, hotels, masterplanned residential communities, student accommodation and commercial-scale precincts.
There are compelling reasons to improve the energy profile of Australia’s built environment. Energy efficient buildings using proven clean energy technologies reduce stress on the electricity network, lower electricity consumption, and support a least-cost pathway to net zero emissions, improving health and resilience outcomes for households and businesses.
With the property sector contributing nearly 25 per cent of greenhouse gas emissions in Australia, it is an important area of focus for the CEFC. Since we began investing we have committed more than $1 billion to property projects valued at $3.7 billion.
In 2017-18 our property-related investment commitments targeted ‘demonstration’ projects with the ability to deliver best-in-class performance around energy efficiency and the integration of renewable energy into new and existing buildings.
Our new commitments covered hospitals and healthcare, shopping centres, hotels, masterplanned residential communities and commercial-scale precincts. These subsectors all have significant potential to unlock emissions reductions and cost savings through an increased focus on sustainability.
During the year we were pleased to see progress on earlier commitments in the sector. In Geelong, Quintessential Equity completed the landmark 1 Malop Street development, which used CEFC finance to achieve a 5.5 NABERS energy rating (excluding green power). Community and affordable housing provider SGCH completed the construction of 80 energy efficient homes in Sydney, drawing on CEFC finance to deliver a range of benefits, including glazed windows, high performance insulation, ceiling fans to reduce the need for artificial cooling and heating.
The CEFC invests in property-related projects as part of the Sustainable Cities Investment Program.
A CLEAN BILL OF HEALTH
The Healthcare Wholesale Property Fund will own Australia’s first portfolio of hospital and healthcare assets to have environmentally sustainable development and operations. A focus on medical facilities in Adelaide and Sydney are among those to set new standards in energy efficiency. The fund is targeting emissions reductions of 45 per cent, drawing on $100 million in CEFC investment.
CLEAN TECH HOMES OF THE FUTURE
First and new home buyers in Sydney and Brisbane will have access to state-of-the-art clean energy homes of the future. Three Mirvac master-planned communities will have built-in solar PV plus battery storage, high-grade insulation, LED lighting and energy efficient appliances. CEFC finance of $90 million aims to deliver a lifetime of lower energy costs and carbon emissions for residents.
MELBOURNE QUARTER LEADS
Lendlease is targeting a new standard of sustainability in large-scale commercial precincts, aiming to deliver net zero emissions in a $4.5 billion commercial property portfolio as early as 2025. The portfolio includes commercial developments in the new Melbourne Quarter precinct, in the heart of the city’s CBD, which will include best practice energy efficiency measures.