IFM Investors, the $100 billion super fund investment consortium, is partnering to cut carbon emissions for Australia's largest infrastructure fund.
Partnering with the Clean Energy Finance Corporation (CEFC), IFM will work to reduce emissions for the assets contained in its $12 billion Australian Infrastructure Fund, including ports, airports and electricity.
The CEFC is committing $150 million to the fund to focus on carbon reduction initiatives such as on-site solar photovoltaic technology and battery storage, converting to electric vehicles and monitoring systems that track performance of individual assets such as Ausgrid, Brisbane Airport, Melbourne Airport, Port Botany and the Port of Brisbane.
"We recognise IFM Investors as a leader in sustainable investment in infrastructure and congratulate IFM Investors on this significant commitment to lowering emissions, and contributing further to the environmental sustainability of the assets in its Australian Infrastructure Fund," CEFC chief executive Ian Learmonth said.
"Infrastructure assets are central to our economic and social well-being. They are usually large, expensive and built for the long term. It is absolutely critical that the assets of today contribute to the overall emissions reduction task that we are facing," Learmonth said.
IFM global head of infrastructure Kyle Mangini added: "IFM is a leader in sustainable investment. With the support of the CEFC, we will accelerate our program of measuring, reporting, and decreasing emissions from Australian infrastructure assets.
"The fact that this is the first commitment by the CEFC to an infrastructure fund reflects our alignment in a cleaner future. Today, I invite other investors in infrastructure to follow our lead and make a difference."