As most of Australia’s population and economic activity is associated with these cities, we have exceeded the $1 billion target, committing more than $3.4 billion since the program was created, to some 6,400 projects that meet the definition of an eligible Sustainable Cities investment opportunity. The combined value of these investments, taking into account additional commitments from other investors, was $11.2 billion at 30 June 2020.
New investment commitments as part of the Sustainable Cities Investment Program in 2019–20 included $466 million across 1,510 large and small scale transactions, with a total value of $2.1 billion. We welcomed strong investor interest across a diverse range of activities, including economic infrastructure, energy from waste and property, which have the potential to deliver substantial emissions reduction.
Emissions abatement for the small scale asset finance programs is estimated based on the mix of portfolio assets rather than per each individual asset, which would prove impractical at such volume. Therefore, abatement is estimated and reported at the national level rather than allocated by state. In addition, financial leverage amounts for the individual asset level investments are reported as zero. This is a conservative approach, reflecting the fact that this CEFC finance is delivered via our co-financiers, with the CEFC having no visibility of cash or other credit contributions that may have been made by the individual borrower.