04Appendices, Glossary and Abbreviations

CEFC ANNUAL REPORT / 2015–16

Appendix C: Environmental Performance and Ecologically Sustainable Development

Under the CEFC Act, the CEFC’s objective is to:

Facilitate increased flows of finance into Australia’s clean energy sector, applying commercial rigour to investing in renewable energy, low emissions and energy efficiency technologies, building industry capacity, and disseminating information to industry stakeholders.

The CEFC committed a record $837 million to new investments in the Australian clean energy sector in the 2015-16 financial year, contributing to projects with a total value of $2.5 billion. The CEFC’s investment commitments since its inception in 2013 is almost $2.3 billion, contributing to projects with a total value of $5.7 billion. This outcome contributes directly to the principles of Ecologically Sustainable Development (ESD).

Figure 41 details the CEFC’s ESD activities in accordance with section 516A(6) of the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

Figure 41: ESD activities 2015-16

ESD reporting requirement

CEFC response

How the CEFC’s activities accorded with the principles of ESD

By mobilising investment into renewable energy, energy efficiency and low emissions technologies, the CEFC’s activities result in increased flows of funds for the commercialisation and deployment of such technologies, preparing and positioning the Australian economy and industry for a carbon constrained world.

Outcomes contributing
to ESD

The CEFC furthers and advances the principles of ESD through:

• The “integration principle”: The CEFC demonstrates how financial return can be made by investing for an environmental outcome. By encouraging the private sector to invest alongside it, the CEFC demonstrates how to integrate economic, environmental, social and equitable considerations into investment decision-making.

• The “valuation principle”: The CEFC’s investment experience can be used to establish a credit history for new technologies or investment classes in Australia. Establishment of a credit history will lead to better valuation and pricing of finance and improved risk evaluation in the clean energy sector.

Figure 42: Environmental performance reporting

Theme

Steps taken to reduce effect

Measures to review and improve reducing the effect

Energy efficiency and emissions reduction

The CEFC has a range of measures in place to increase energy efficiency and emissions reduction, including:

• open plan offices, allowing easier control of air conditioning

• centralised printing facilities, allowing for fewer high capacity multi‑function devices (which have energy saving modes when not in use)

• energy efficient computer monitors and laptops, which employees are encouraged to turn off each evening

• sensor and LED lighting in our Sydney and Brisbane offices, which have a 5-star NABERS energy rating

• an energy use dashboard in the Brisbane office to indicate energy and water consumption.

The CEFC offsets all energy purchased. We are also committed to carbon offsetting all employee flights, and reducing the number of inter-office flights by using video conferencing facilities.

There are no car parks associated with either the Brisbane or Sydney office leases and employees are encouraged to walk, run or cycle to work and to use public transport.

No corporate car parks or corporate vehicles are provided to employees.

The CEFC is still scaling up as an organisation, in line with the growth of the business. While opportunities to improve energy efficiency are taken where available, it is not feasible to establish meaningful baselines for energy consumption for comparison while this scale up is occurring.

During the 2015-16 year, we expanded our video conferencing facilities in our Brisbane and Sydney offices to reduce inter‑office flight requirements.

A review of our corporate policy of offsetting CO2 emissions associated with office travel resulted in a change to our procedures.

The CEFC now independently procures offsets for flights following Department of Finance changes to the Whole Of Government travel procurement provider, which resulted in “pay as you go” options no longer being available.

During 2015-16, the CEFC procured 506.03 tonnes  of carbon offsets to offset flights, via the Tasmanian Native Forest Protection Project.

Waste

The CEFC has a range of measures in place to reduce waste, including:

• CEFC office furniture has been selected for its high recycled/recyclable content

• In Brisbane, a “follow me” printing system is installed to reduce paper consumption, with default printing set to double sided, black and white

• 100% recycled printer paper is used

The CEFC is still scaling up as an organisation, in line with business growth.

While opportunities to reduce waste are taken where available, it is not feasible to establish meaningful baselines for comparison purposes while this scale up is occurring.

Water

Water is recycled at the CEFC’s premises:

• The Brisbane office has a rain water system in operation

• The Sydney office has a black water system in operation.

The CEFC is still scaling up as an organisation.

While opportunities to improve water efficiency are taken where available, it is not feasible to establish meaningful baselines for comparison purposes while this scale up is occurring.

ENVIRONMENTAL PERFORMANCE

The CEFC is an organisation dedicated to facilitating Australia’s transition to a clean energy economy. The CEFC’s investments are directed towards emissions reduction and the promotion of renewable energy, energy efficiency and low emissions technologies, and therefore have a positive environmental impact.

The organisation is not large, with 69 employees filling 66 full-time equivalent positions. Since its inception in 2013, the CEFC has operated with a commitment to minimise its impacts on the environment.

While the CEFC is still in a scale up phase, benchmarking “business as usual” activities based on emissions intensity or consumption with a view to achieving reductions is not particularly meaningful. Instead the CEFC has embedded sustainability as part of its decision-making regarding operations and procurement.

INDICATORS

The CEFC is still scaling up as an organisation, which means that there may be increased overall environmental impacts in absolute terms. As far as possible, the CEFC works to reduce the impact per employee as it undertakes this growth.

Figure 43: Environmental performance indicators

Theme

Performance measure

Indicator(s) and 2015-16 performance

Energy efficiency

Total consumption of energy – this includes all energy consumed when undertaking the functions of the agency, such as energy consumed for office buildings and transportation.

Amount of electricity purchased/consumed ($/kWh) = 71,601kWh costing $16,936 ($0.24 per kWh). Excludes travel in electric vehicles and trains and electricity consumed by staff working offsite.

Amount of gas purchases/consumed ($/MJ) = NIL. Excludes gas powered travel and gas consumed by staff working offsite.

Amount of other fuels purchased/consumed ($/kWh/MJ/L) = NIL (NB CEFC has no corporate vehicles) Excludes other fuel powered travel and other fuel energy consumed by staff working offsite.

Air travel distances (km) = NIL (NB All travel is offset).

 

Total consumption of green energy – this includes the purchase of energy from sustainable sources.

Amount of green energy purchased/consumed ($/kWh) during the reporting period = NIL

The CEFC offset 100% of energy in 2015-16, at a cost of $1,108.80. The equivalent amount is 71,601 kWh for $18,044.8 (i.e. $0.25 per kWh).

 

Greenhouse gas emissions.

Amount of greenhouse gases produced (tonnes) = NIL from these above measures as all were offset.

 

Relative energy uses – this includes the green energy use relative to non-renewable energy use and energy use per employee.

Amount of green energy purchased/consumed divided by the amount of electricity/gas/other fuels purchased/consumed = Not applicable. No green energy was purchased but all emissions were offset. The ratio of carbon neutral energy purchased divided by the amount of electricity/gas/other fuels purchased/consumed is 1.

Amount of total energy purchased/consumed ($/kWh) per employee = $245.45 per employee per annum.

Water

Total consumption of water – this includes all water consumed when undertaking the functions of the agency.

Amount of water purchased/consumed ($/L) = Amount unknown.*

Waste

Total waste production – this includes all waste (i.e. unwanted by-products) produced when undertaking the functions of the agency.

Amount of waste produced (tonnes) = Amount unknown.

* The CEFC is a tenant in each facility and does not have a means of capturing data to this level of specificity. Rain water and black water systems are in use in the Brisbane and Sydney offices respectively.