Results

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The CEFC had a strong year in 2016-17. A summary of the CEFC’s performance outcomes is included in Figure 36. CEFC performance has been assessed against the performance criteria set out in the 2016-17 Corporate Plan, as well as the performance criteria set out in the 2016-17 Portfolio Budget Statements.⁸

	Performance Criterion	Measure	Outcome
1	Investment in renewable energy, low emissions and energy efficiency technology	Dollar value of new investment commitments	$2.1 billion against a target of between $800 million and $1 billion.
2	Placement of funds into Australia’s clean energy sector	Dollar value of capital deployed	More than $900 million against a target of $450 million.
		Expected carbon abatement from committed projects at negative cost	A positive return to the CEFC for each tonne of CO₂-e emissions abatement
		Financial leverage in projects financed	Actual leverage was more than $2.00 for every $1.00 committed by the CEFC, which is above the target of $1.00 per $1.00 committed.
3	Performance against portfolio benchmark return (PBR) set by the Australian Government	Portfolio return achieved	4.5% versus a PBR target range of 5.74% to 6.74%.
3		Level of operating expenditure before accounting concessionality and impairments.	$28.8 million versus a target of less than $31.3 million.
4	Dissemination of information to industry stakeholders and building industry capacity	Value and diversity of tangible pipeline of opportunities	Pipeline of investment opportunities increased from around $7 billion to more than $9 billion at 30 June 2017.
		Level of marketing and communications activity	Marketing and communications activity, including increased media outreach and participation in relevant conferences and industry events, which increased from 135 in 2015-16 to 159 in 2016-17.
		Stakeholder awareness and knowledge	There was increased stakeholder awareness and knowledge of CEFC, as evidenced by a 45 per cent increase in our social media audience⁹.

Figure 36: CEFC performance summary 2016-17

^{8. Criterion sources: 2016-17 Portfolio Budget Statements and 2016-17 Corporate Plan
9. Twitter and Linkedin audience}