Australia’s green bank CEFC has committed A$70m (€40.3m) to the QIC Global Infrastructure Fund II (QGIF II) fund to drive the decarbonisation of two of the highest-emitting sectors – energy and transport.
The federal government agency had made an earlier A$72m investment in the predecessor fund, the QIC Global Infrastructure Fund.
CEFC said the latest investment would accelerate the transition to net zero by driving down emissions across the entire value chain, targeting Scope 3 emissions.
CEFC head of infrastructure, Julia Hinwood, said: “This investment is about accelerating sectors that are critical to the energy transition and driving change where it matters most. The CEFC is supporting key infrastructure assets that enable decarbonisation and industries that are challenging to decarbonise.
“By targeting the infrastructure that underpins our energy and transport systems, we’re helping to accelerate the lowering of emissions across the broader Australian economy.”
Hinwood said through the fund, the CEFC capital would be invested in assets, such as smart metering, decarbonisation of transport and grid infrastructure - areas that represent emerging opportunities beyond the scope of traditional infrastructure portfolios.
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