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Working with the CEFC

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The CEFC’s success can be attributed to an effective organisational model based on deep experience and expertise, with a commercial and innovative approach to transforming clean energy investment. The CEFC seeks to be known as expert, commercial, transformative and innovative in our approach to transaction opportunities. See Figure 47.

Our Employees

While the CEFC has considerable available capital to invest, it remains a relatively small organisation in terms of numbers of people. Organisational effectiveness and operational efficiency are critical to the CEFC’s performance.

CEFC staff are mainly drawn from the finance and energy sectors, reflecting our specialist investment focus. Key organisational tasks include strategic planning, transaction origination, portfolio management, legal, finance, human resources, compliance, risk management, marketing and communications, investment research, stakeholder relations and administrative functions.

With the growth of the organisation and its investment portfolio, the CEFC has progressively augmented and deepened its skills base, as well as prioritised cross-skilling and backup for each role to minimise key-person risk.

For the 2016-17 year, annual employee turnover was 17 per cent, including six per cent planned (e.g. completion of fixed term contract) and 11 per cent unplanned (e.g. resignations).

During the reporting period, the CEFC participated in the Department of the Environment and Energy’s graduate program, hosting a graduate for a three-month rotation to provide exposure to the CEFC’s business and the markets in which it operates. The CEFC also hosted a Year 11 work experience student.

Terms of employment

CEFC employees are employed under the CEFC Act and are not public servants for the purposes of the Public Service Act 1999. 

CEFC employees are employed on individual contracts, with terms and conditions based on the National Employment Standards (NES) in the Fair Work Act 2009. In addition, the Australian Government Industry Award 2016 (AGIA) was introduced on 15 August 2016 to cover non-Executive employees. The CEO and Executive have individual contracts and are not subject to the AGIA.

In addition to the NES and AGIA, the CEFC Board has approved additional employment benefits, such as paid parental leave and study support.

Employee remuneration is determined by the CEFC with reference to market benchmarking data to ensure the organization can recruit and retain high caliber employees with the requisite skills to manage the CEFC’s diverse functional areas. Employee remuneration may include a variable compensation component, noting the variable compensation plan is approved annually by the Board and is therefore not guaranteed.

Executive remuneration is overseen by the Remuneration and Human Resources Committee. Additional information on payments to employees is available in Note 5 in the Financial Statements.

Employee profile

The CEFC is a specialised financier and has recruited experienced, senior practitioners within each functional area. This is reflected in the CEFC’s average employee age of 42 years. 

As the CEFC grows, it is recruiting more entry-level employees, and we are increasingly able to provide career development and growth pathways.

At 30 June 2017, the CEFC had 87 employees, compared with 66 at 30 June 2016. See Figure 49.

The CEFC has 43 percent female employees, and 57 percent male employees. 

To support our people in balancing their work and personal commitments, flexible work arrangements are available to all employees. There are 10 people employed on a part-time basis, primarily to accommodate family responsibilities. 

The CEFC has a diverse staff base, with 40 percent of employees born in 16 countries other than Australia, and 13 percent reporting English as their second language. No CEFC employees identified as Indigenous. In addition, there were no CEFC employees reporting as having a disability. Given the CEFC’s relatively small employment profile, the CEFC does not consider this as statistically significant.

The CEFC’s Equal Employment Opportunity report for the 2016-17 year is available in Appendix B.

 Category  Level Headcount   Full time equivalent
Statutory Officers

 

  
Chair  0.2* 
Board members  5  1 * 
Chief Executive Officer  1  1 
Employees

 

 

 

 

       
Executive level  6 6
Executive Director/ Head of Function  8
Director  19 18.1
Associate Director  22 21.5
Senior Associate  8 8
Associate  7 6.7
Manager  5 4.8
Administration  11 10.4
TOTAL  93  85.6
TOTAL, EXCLUDING CHAIR AND BOARD MEMBERS  87 84.4

Figure 49: Staff numbers

* All Board roles are part-time.

Women in Sustainable Finance

CEFC staff took a leadership role in the development of ‘Women in Sustainable Finance’ networking groups in Sydney and Brisbane during 2016-17. The group brings together people from a broad cross section of business, including investment funds, banks and environment and sustainable development teams, as well as corporates, energy and renewable energy companies.

Focus on learning

CEFC employees have access to online learning modules, with content ranging from induction and compliance to leadership, emotional intelligence, and environmental and sustainability awareness.

Employees also participate in ‘lunch and learn’ sessions on market developments, emerging technologies and personal development. These initiatives provide an important opportunity for CEFC staff to increase their understanding of relevant developments and organisations in the clean energy sector with presentations from respected external groups. See Figure 50.

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