QICGRE shopping center gets 200 million dollar investment

The Clean Energy Finance Corporation (CEFC) just announced that it will be investing 200 million dollars into QICGRE's flagship Shopping Centre Fund (QSCF). The investment will help to lead improvements in energy performance across the QSCF shopping centre portfolio.

Australian shopping centres account for 36 percent of commercial building entry consumption. The centers are also a way for communities to engage with customers for enhancing sustainability and reducing energy use. There are approximately more than 1,750 shopping centers in Australia, where less than 10 percent of them have attain National Australian Built Environment Rating System (NABERS) ratings that measure how well they perform in terms of energy use. Through the CEFC's agreement with QSCF, the new investment will help foster more customer engagement activities that inform shoppers of initiatives that are being carried out.

"This partnership with CEFC presents a unique opportunity to align QSCF’s capital management strategy, that seeks to diversify its sources of funding, with QICGRE’s broader ESG ambitions to drive sustainability initiatives and manage energy risk across our retail portfolio," Michael Fattouh, QSCF fund manager, said in a statement. "The CEFC facility is also QSCF’s first “green debt” facility and the first major investment CEFC has committed to the Australian retail sector, for which we are extremely proud."