QIC Global Infrastructures sets Net Zero Emissions target by 2040
In November 2021, QIC Global Infrastructure formalised its net zero emissions commitment for the two pooled funds it manages on behalf of its clients, representing over AUD $5bn of capital1 – the QIC Global Infrastructure Fund (QGIF) and the QIC Infrastructure Portfolio (QIP). Our commitment incorporates three dimensions:
- At least a 50% reduction in Scope 1 and 2 carbon emissions by 20302
- Net Zero Emissions (NZE) for Scope 1 and 2 across both portfolios by 2040
- Active contribution to our assets’ broader industry net zero ambitions (e.g. Scope 3).
1As at 30 Sept 2021. 2From a 2020 baseline
2028 net zero emissions target across QIC’s core retail properties
Queensland Investment Corporation (QIC) Global Real Estate will achieve net zero carbon emissions for core Australian retail assets by 2028. Our proactive and data-driven approach to net zero will deliver real changes to improve the environmental performance of our assets for the long term. QIC Global Real Estate’s proactive approach focuses on maximising efficiencies and smart investments to lower our carbon footprint, and is less reliant on the purchase of green power and carbon offsets.
Climate Action 100+ company engagement with Qantas and Boral
The Queensland Investment Corporation joined the Climate Action 100+ initiative in June 2020 and we commit to be an ongoing participant. We are a support investor engaging with Qantas and Boral. We will report progress for each company alongside our other active ownership priorities.
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