By: Peter Trousdale On: November 07, 2022 In: Comments: 0

The CEFC is investing $72 million into a $1 billion capital raising by the QIC Global Infrastructure Fund (QGIF) as part of its plans to accelerate its trajectory to net zero emissions. QGIF will lift its emissions reduction ambitions across its portfolio, with the capital raising supporting investment in bolt-on emissions reduction opportunities at existing assets, as well as the acquisition of new assets, including those with a focus on reducing carbon emissions.

As a part of its work towards integrating ESG across its investment process, QIC has committed to halve its scope 1 and 2 emissions by 2030 for QGIF (on a 2020 baseline) and is targeting net zero scope 1 and 2 emissions for the Fund by 2040. QIC has also committed to actively contribute to the broader industry net zero emissions ambitions for QGIF assets.

The CEFC investment, on behalf of the Australian Government, brings total investment in QGIF to almost $3.4 billion. The scale and diversity of the QGIF portfolio allows it to benefit from the deployment of a broad range of clean energy technologies across its 11 core and core-plus infrastructure assets.

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