The initiative was announced by IFM Investors, who own or co-own infrastructure assets on behalf of seven million industry superannuation funds members.
Involved infrastructure assets include Ausgrid, Melbourne Airport, Brisbane Airport, NSW Ports, the Port of Brisbane, Southern Cross Station in Melbourne and Northern Territory Airports.
IFM Investors Head of Australian Infrastructure Michael Hanna said the company was pleased to be taking an active role as a major infrastructure investor.
“This exciting initiative represents a genuine commitment to aligning our assets to the Paris Agreement,” Mr. Hanna said.
According to a IFM Investors statement, targets will see CO2 emissions annually reduced by more than 200,000 tonnes by 2030.
“This significant piece of work gained momentum when the Clean Energy Finance Corporation (CEFC) invested $150 million last year, to help drive emissions reductions and promote greater transparency and emissions reporting at some of Australia’s largest infrastructure assets,” the statement reads.
“IFM Investors has worked closely with the assets and their other co-owners to commit to meaningful emissions reductions, while maintaining returns for its investors.”
Reduction targets range from 8-25 per cent by 2024, to 38-100 per cent by 2030.
“The infrastructure assets have initiated sweeping programs to reduce carbon emissions through alternate power sources, the uptake of electric and low emissions vehicles, LED lighting, rooftop and large scale solar, smart management systems and energy efficient office spaces.”
CEFC CEO Ian Learmonth said the program sets an important example for other major infrastructure owners and managers in Australia.
“Cutting carbon emissions can deliver a long-term dividend to the environment, and in most cases, an improved financial performance,” Mr. Learmonth said.
“These infrastructure assets will operate for generations, with the targeted emissions reductions having the potential to make a material impact on cutting Australia’s carbon footprint.”