We take a commercial approach to our activities, while also delivering on our public policy purpose to increase available finance for Australia’s clean energy transformation and low emissions future. Across our portfolio, we invest to deliver a positive return for taxpayers.
We operate at the forefront of the finance and clean energy sectors, influencing businesses to set ambitious sustainability and economic goals and benefit from rapid advances in clean energy technologies. We provide tailored debt and equity finance to businesses and projects who deploy proven low emission technologies and to those that develop and commercialise clean energy technologies at early and later stages of development.
Market perceptions about our role as a specialist clean energy investor mean that CEFC employees are often invited to meet with private, government and international organisations to share information about our investments, our experience and insights into this dynamic sector. This includes contribution to the work of the global Green Bank Network. We welcome this ability to positively influence market and stakeholder understanding about the opportunities to invest in lowering emissions.
CEFC employees are employed on individual contracts, with terms and conditions based on the National Employment Standards (NES) in the Fair Work Act 2009. The Australian Government Industry Award 2016 covers non-executive employees. The CEFC Board has approved additional employment benefits, including paid parental leave, purchased leave, study assistance and professional memberships. Additional benefits were provided in 2019–20 in response to the COVID-19 pandemic, including special discretionary leave and support for establishing a home office, in line with CEFC work, health and safety guidelines.
A key aspect to supporting the attraction and retention of a diverse and high performing workforce, employee remuneration is determined with reference to market benchmarking data provided by the Financial Industry Remuneration Group (FIRG). This is the primary source of remuneration data for the financial services industry. The FIRG dataset is sourced from large, medium and small organisations across both private and public sectors, which the CEFC adapts for relevance to our business environment.
Eligible employees can participate in a Variable Compensation Plan. Central to the plan are the annual Corporate Key Performance Indicators (KPIs), focused on the strategic themes of Impact, Innovation and Organisational Effectiveness. Through the Variable Compensation Plan, the contribution of individual employees is measured alongside overall organisational performance. Additional information on payments to employees is available in Note 5 in the Financial Statements.