IFM Investors

During FY2019, IFM Investors worked closely with its major Australian infrastructure assets and co-owners to establish emissions reduction targets and pathways through to 2030.

IFM developed a Carbon Emission Reduction and Energy Efficiency Framework, which aims to assist assets to prepare for and transition to a low carbon economy by:

• Establishing an energy and emissions baseline;
• Developing targets for energy and carbon emission reductions and associated emissions reduction initiatives; and
• Including sustainable design principles in major capital works.

Importantly, the framework also aims to encourage IFM’s assets to identify and deploy energy efficiency opportunities and new technologies.

At March 2019, emissions reduction targets have been established for Ausgrid, Melbourne Airport, Brisbane Airport, Northern Territory Airports, Port of Brisbane, NSW Ports and Southern Cross Station, comprising 90% of the Australian infrastructure portfolio value and 98% of the portfolio’s total scope 1 and 2 emissions.

In addition to helping to set targets, IFM has oversight of the annual emissions trajectory for each asset, as well as the timeline for the implementation of energy efficiency/reduction activities. Using this, IFM’s asset management team will monitor and assess progress, engaging with assets to help ensure they remain on track. We will also be monitoring developments in relation to climate change policy and/or technology demand and pricing, in case opportunities arise to bring forward more expensive and/or innovative change options, for example, fuel switching and building on-site renewables.