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Our people

Executive committees

The CEO has responsibility for the day-to-day management of the CEFC, assisted by the Executive and its committees:

  • Executive Investment Committee: reviews all investment proposals, excluding those of the Clean Energy Innovation Fund
  • Joint Investment Committee: operated in conjunction with ARENA, reviews all investment proposals relating to, and the performance of, the Clean Energy Innovation Fund
  • Asset Management Committee: oversees the management and performance of the CEFC investment portfolio
  • Executive Risk Committee: oversees performance and risk management matters relating to CEFC investments and for the CEFC itself.


Terms of employment

The CEFC is very successful in attracting and engaging professionals with the depth of expertise and commitment required to deliver on our purpose. The terms and conditions of CEFC employment relationships are formalised with individual employment agreements based on the National Employment Standards. Non-executive employees are also covered by the Australian Government Industry Award 2016.

The CEFC offers a workplace underpinned by agile work practices, as well as a range of leave types and benefits. CEFC employees receive a total compensation package of fixed and variable remuneration. Remuneration is reviewed annually, referenced against market data from the Financial Industry Remuneration Group.

The CEFC Variable Compensation Plan rewards employees for achieving corporate and individual key performance objectives, with a strong focus on reinforcing behaviours that underpin our values, support our risk parameters and contribute to the growth and sustainability of the CEFC. Refer to Appendix G.



The Chief Executive Officer is appointed by the Board, in consultation with the responsible Ministers. The CEO is a statutory officer, with the Executive and staff employed under terms and conditions determined by the Board.

CEFC employees are located in Brisbane, Canberra, Melbourne, Perth and Sydney. Key organisational activities include investment origination, transaction execution, portfolio and asset management, support for early-stage innovative technologies and financing projects. Investment and portfolio management related activities are complemented by the support of expert functions across legal, finance, IT, compliance, credit and risk management, marketing and communications, research, government and stakeholder relations, people and culture, and administration.

The CEFC holds 100 per cent of the issued share capital in two subsidiaries: CEFC Investments Pty Limited (ACN 616 070 430) and Clean Energy Investment Management Pty Limited (ACN 628 443 854).

CEFC organisational structure 2021–22
CEFC AR22 Page 114
Paul McCartneyLudovic TheauSara LeongMichael JohnstonJay TolsonAndrew PowellLeanne McDonaldChief Clean Futures OfficerChief Investment Officer Chief Asset Management OfficerChief Risk OfficerGeneral Counsel and CompanySecretaryChief Financial OfficerChief People OfficerLong-term investment strategyEmerging sectorsNation building projectsInvestment researchOrigination strategyInvestor relationsInvestment streams and pipelineInvestment developmentTransaction executionInvestment Investment policiesCorporate planningEnterprise riskReputation riskComplianceCorporate legalTransaction legalCompany secretariatGovernanceFinancial reportingBudgeting Treasury and cash managementIT security Business solutionsValues RemunerationRecruitmentWellness Talent and capability Diversity CEFC BoardPeople and Culture CommitteeAudit and Risk CommitteeIan LearmonthChief Executive OfficerSimon EveryHead of Government and Stakeholder RelationsHelen CorcoranHead of Marketing and Communications

Organisational developments

During the 2021–22 year, we continued to build capabilities to capture new market opportunities and manage our evolving investment portfolio. Key developments included:

  • Expansion of our Impact Capital team with additional resourcing and expertise to help expand capital availability to companies in the post-venture capital/pre-initial public offering stage of their development
  • Established a Natural Capital sector investment team to focus on delivering finance to nature-based emission reduction solutions, particularly in the areas of land use, agriculture, and forestry
  • Created our first specialist fund manager, Virescent Ventures, to substantially lift the amount of investment capital available for cleantech start-ups
  • Established a new Carbon Markets capability to lead our engagement with carbon offset market participants who will play an important role in the net zero transition
  • Made additional investments in data analytics and reporting, information technology, workflow automation and digital collaboration tools to enhance operational performance
  • Embarked on office relocation projects in Brisbane and Melbourne reflecting the increase scope and scale of CEFC investment activities and teams.

Adapting to the pandemic

CEFC staff continued to perform effectively despite the ongoing disruption of the pandemic during 2021–22. The CEFC promotes agile working practices, with staff working within flexible, technology-enabled teams. Staff are supported in achieving a balance between work and home life, enabling a greater sense of well‑being and underpinning a strong and collaborative workplace culture.

During the year, the COVID Response Team broadened its focus beyond COVID 19 to address emerging business continuity challenges and threats. These include responding to extreme weather events, flooding and the potential disruption caused by other infectious diseases including influenza and monkeypox. Refer to Appendix D.

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