Results
Download sectionThe 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
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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 |
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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. |
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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%. |
Level of operating expenditure before accounting concessionality and impairments. |
$28.8 million versus a target of less than $31.3 million. |
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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 |
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. |
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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