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We seek to consider material environmental risks in our investment processes.


Our planet's ecosystems are essential to our health, livelihoods and economy, and climate change is one of the greatest threats to their stability. This is why our attention needs to focus on climate solutions, the efficient management of resources and the mitigation of biodiversity loss.



Highlights

Our renewable energy assets supporting the transition to a low-carbon economy have grown to A$6 billion (as at 30 September 2023) and we aim to invest more than A$15 billion in the energy transition over the next 5 years.

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We launched our Natural Capital capability in 2022 which aims to deliver environmental outcomes alongside agricultural and environmental returns.

This is reflective of the international momentum to address the challenges of population growth, food security, biodiversity protection and climate change – issues that affect the communities in which we live and support.

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We manage a new A$170 million Queensland Critical Mineral and Battery Technology Fund on behalf of the Queensland Government.

The fund will provide financial support to companies involved in the emerging critical minerals, battery technology and advanced materials sector.

Queensland has significant deposits of the critical minerals required for the world’s rapid transition to clean energy technologies.

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Embarking on a pathway to net zero

We are a signatory to the Net Zero Asset Managers (NZAM) Initiative and will actively work to define our NZAM scope to determine commitments for our business and our clients, in line with the diverse nature of our asset classes.

This builds on our progress to date, with seven QIC funds across our Real Estate1 and Infrastructure2 platforms having already committed to net zero targets. For details on our net zero commitments, refer to QIC’s Sustainability Reports on our Governance and Reporting page.

 

 

1Net zero target for retail assets relies on ~50% renewable energy (onsite solar and the purchase of grid sourced) and ~50% reduction in electricity consumption, from a 2018 baseline. Net zero target for office assets relies on ~61% renewable energy (Power Purchase Agreement/Large Scale Generation Certificates) and ~39% reduction in electricity consumption, from a 2015 baseline, and efficiencies already achieved to date account for ~26% of target modelling. Target progress is quantified and receives limited independent assurance annually, in accordance with the Australian Standard on Assurance Engagements (ASAE3000).
2QIC Infrastructure net zero emission (NZE) target by 2040 for scope 1 & 2 emissions. NZE target includes a 50% reduction in scope 1 & 2 emissions by 2030 from a 2020 baseline, applied to the equity share of emissions for assets in our pooled infrastructure funds. The NZE target model relies on and may change depending on the adoption of new technology, operational improvements, growth or reduction in business activity, availability of equity and the potential new investment/divestment of businesses in the portfolio. Our progress will be quantified using independent verification and regular scope 1 & 2 emissions tracking metrics.