Through the $1 billion Sustainable Cities Investment Program, the CEFC invests to accelerate the development and deployment of a broad range of clean energy projects in Australia’s 50 largest cities, from Alice Springs with 25,000 people to Sydney, Australia’s largest city, at some 5.1 million people.
Reflecting the diverse and vibrant nature of our cities, finance can be used across the urban environment to deliver clean energy benefits to commercial, industrial and residential property; low emissions transport and energy efficient large-scale economic infrastructure; as well as educational and community assets.
Eligible projects range from precinct-scale renewable energy developments, to next-generation transport management systems, green buildings and energy efficient new and retrofitted affordable housing.
The investments are intended to drive new enterprise and economic growth, reduce greenhouse gas emissions and contribute to more resilient and livable cities, where the majority of Australians live.
The CEFC also works across Government to support the national Cities agenda, including through the City Deal areas of Townsville, Launceston, Western Sydney, Geelong, Hobart, Darwin and Perth.
To 30 June 2018, the CEFC had committed more than $1.8 billion to more than 3,300 Sustainable Cities projects, representing total investment of over $5.0 billion alongside the private sector. These projects include direct commitments to 33 larger-scale projects and $437 million to more than 3,250 smaller-scale asset finance projects, including small-scale renewables, energy efficiency equipment and electric and hybrid vehicles.
Projects financed through the Sustainable Cities Investment Program are targeting lifetime emissions of more than 26M tCO2-e.
While the CEFC has exceeded the $1 billion investment target for the Sustainable Cities Investment Program, we continue to work with others to accelerate sustainable investment in a diverse range of projects in Australia’s cities.
This has two benefits:
- There are very substantial opportunities for Australia to reduce overall emissions by introducing more renewable energy, energy efficiency and low emissions technologies into the way we operate our cities.
- These technologies can benefit industry, asset owners and residents, via enhanced productivity, lower energy consumption, enhanced living conditions and improved environmental outcomes.
|CEFC direct finance||$1,456.4m||$382.5m|
|Projects via channel partner||3,292||2,360|
|Investment via channel partner||$436.9m||$354.0m|
|Lifetime MtCO2-e abatement estimated*||26.4||6.4|
Figure 3: Sustainable Cities Investment Program commitments