IFM Investors sets significant emissions targets

IFM Investors has set emissions targets across its major assets that aim to reduce more than 200,000 tonnes of CO2 emitted by 2030.

In an unprecedented move IFM Investors will now have emissions reduction targets through to 2030 and beyond.

The targets will apply to household names it owns or co-owns in Australia such as Ausgrid, Melbourne Airport, Brisbane Airport, NSW Ports, the Port of Brisbane, Southern Cross Station in Melbourne and Northern Territory Airports.

Reducing 200,000 tonnes of CO2 from entering the environment will be equivalent to removing almost 70,000 cars from the road.

This target gained momentum when the Clean Energy Finance Corporation (CEFC) invested $150 million last year to help drive emissions reductions and promote greater emissions reporting at some of Australia's largest infrastructure assets.

The assets have established emissions reduction targets ranging from 8-25% by 2024 to 38-100% by 2030.

Some of the programs the infrastructure assets have initiated include alternate power sources, the uptake of electric and low emissions vehicles, LED lighting, rooftop and large scale solar, smart management systems and energy efficient office spaces.

CEFC chief executive Ian Learmonth highlighted the enduring nature of infrastructure assets, and from that, the impact it has on Australia's carbon footprint.

"These infrastructure assets will operate for generations, with the targeted emissions reductions having the potential to make a material impact on cutting Australia's carbon footprint," he said.

"This comprehensive program of activity sets an important example for other major infrastructure owners and managers in Australia. Cutting carbon emissions can deliver a long-term dividend to the environment and in most cases an improved financial performance."

IFM head of Australian infrastructure Michael Hanna said: "IFM Investors is pleased to be taking an active role as a major infrastructure investor to work with the CEFC and our assets' management teams to set carbon abatement targets and commit to annual progress reporting."

"This exciting initiative represents a genuine commitment and start to aligning our assets to the Paris Agreement, and it makes perfect business sense by reducing costs, mitigating future business risks and contributing to outcomes that our customers value."

The latest data from the Clean Energy Regulator shows infrastructure-related emissions account for more than half of Australia's total carbon output, with power stations alone accounting for 50.3% of emissions.

Read more: IFM InvestorsMelbourne AirportAusgridBrisbane AirportClean Energy Finance CorporationIan LearmonthMichael HannaNorthern Territory AirportsPort of BrisbaneSouthern Cross Station
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