10 May 2016
The CEFC has received a new Investment Mandate, which comes into effect on 10 May 2016.
The new Investment Mandate gives effect to the creation of the Clean Energy Innovation Fund (CEIF), and also specifies the portfolio benchmark return for the CEFC's investment activities, as well as those of the CEIF.
The Clean Energy Finance Corporation Investment Mandate Direction 2016 is available at ComLaw: https://www.legislation.gov.au/Details/F2016L00714
This new Investment Mandate replaces the previous Investment Mandate.
Consistent with the CEFC Act, the CEFC was consulted during the development of the new Investment Mandate. A copy of the CEFC's response to the Responsible Ministers, from CEFC Chair Ms Jillian Broadbent AO, is available here: /media/178175/board-response-to-resp-ministers-on-consultation-draft-20160503.pdf
The CEFC will implement the new investment focus as part of its investment activities, and is working with the Australian Renewable Energy Agency (ARENA) regarding the CEIF.
Under the CEFC Act, the Australian Government can provide directions to the CEFC by issuing it with an investment mandate. Any directions contained in the investment mandate may not require the CEFC to make or not make a particular investment, or be inconsistent with the CEFC Act.