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We are pleased to present our 2023 Sustainability Report, which provides an update on our environmental, social and governance (ESG) performance and initiatives for FY23.
This year, we continued to progress our focus on decarbonisation, becoming a signatory to the Net Zero Asset Managers initiative, with work currently underway to develop a net zero pathway and interim targets. This commitment is supported by our investment activities, as we continue to grow our investments in assets that seek to address the global challenges of climate change and biodiversity loss, including:
- Managing the Queensland Critical Minerals and Battery Technology Fund, supporting decarbonisation and a stronger Queensland economy1
- Investing in agricultural properties through our natural capital platform, with the goal of implementing strategies that promote both environmental and commercial outcomes
- Growing our investments in support of a low-carbon economy to A$9.5bn, with energy platform assets in our Infrastructure portfolio earmarked to invest more than A$15bn in this space over the next five years.
In July, we were also selected to participate in the United Nations Principles for Responsible Investment’s Collaborative Sovereign Engagement on Climate Change, focused on Australia. The engagement seeks to encourage climate policy action in Australia as a means of addressing the impacts of climate-related risks on the Australian economy.
In a demonstration of our commitment to ESG leadership, we appointed our first Executive-level leader of ESG, Rowan Griffin. Our General Manager of ESG, Alison Ewings, was recognised for her ESG leadership capability with her appointment to the Climate Action 100+ Global Steering Committee.
Our commitment to responsible investment was acknowledged by the Responsible Investment Institute of Australia, which recognised QIC as a Responsible Investment Leader within the 20% of responsible investors in Australia.2 More recently, our Liquid Markets Group was recognised as Australian Sustainability Fund Manager of the Year in the 2023 KangaNews Awards as voted by debt market participants.
As we continue to progress our Indigenous Strategy, this year QIC was appointed investment manager for two Aboriginal corporations in the Northern Territory. Drawing on our experience and heritage as an investment manager, these appointments allow us to leverage our investment capability to support intergenerational wealth creation. We also procured over $1.4m in services from Indigenous businesses, a significant increase from FY22.
Our achievements this year demonstrate our commitment to continuously improve our ESG practices and capabilities, helping to ensure we are better equipped to respond to ESG risks and opportunities today and into the future.
Citations
- This is a Queensland Government initiative and is not open for investment.
- QIC is a member of the Responsible Investment Association Australasia (RIAA) and pays an annual fee. https://responsibleinvestment.org/responsible-investment-leaders/