CEFC PurposeDownload section
The CEFC was established under the Clean Energy Finance Corporation Act 2012 (CEFC Act) and is an independent statutory authority, defined as a corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The CEFC has access to $10 billion in capital, by way of special appropriations under the CEFC Act, to invest in clean energy technologies, projects and businesses. It is governed by an independent Board that reports to the Australian Parliament through its responsible Ministers.
The purpose of the CEFC is to facilitate increased flows of finance into the clean energy sector. Consistent with this statutory objective, the Board has established the CEFC mission:
To accelerate Australia’s transformation towards a more competitive economy in a carbon constrained world, by acting as a catalyst to increase investment in emissions reduction.
The CEFC’s purpose and mission is achieved through:
- Investing in clean energy technologies and projects
- Leveraging CEFC investment to attract additional private sector investment
- Sharing experiences, insights and expertise with project sponsors, co-investors, public sector agencies, the energy sector and other industry bodies.
- Investment Approach
The CEFC Strategic Framework describes our investment approach, with a clear focus on the areas of the economy where CEFC finance can have a high impact in accelerating emissions reduction to contribute to Australia’s decarbonisation challenge.
We invest, directly or indirectly, in businesses and projects that are solely or mainly Australian-based and that develop, commercialise or are used in clean energy technologies, including the related supply of goods and services. Investments in renewable energy technologies are required to make up at least half of our investments from 1 July 2018. We invest responsibly and manage risk prudently, adopting a commercially rigorous approach to our investment activities. See Figure 40.