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The Clean Energy Finance Corporation (CEFC) has announced a $100 million investment in a pioneering build-to-rent (BTR) strategy led by AXA IM Alts. This initiative integrates clean energy technologies to…
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CEFC and AXA IM Alts Partner with $100 Million Investment for Greener, Affordable Housing – ESG News
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CEFC and AXA IM Alts Partner with $100 Million Investment for Greener, Affordable Housing
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CEFC and AXA IM Alts Partner with $100 Million Investment for Greener, Affordable Housing
by ESG News
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January 17, 2025
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Affordable Living: 50% of apartments offered below market rent in key Australian cities.
Sustainability Focus: Homes built to zero-carbon standards, fully electric, renewable-powered, and targeting 5-star Green Star certifications.
Equitable Energy Transition: Energy efficiency improvements benefit low-income tenants, reducing energy costs and emissions.
The Clean Energy Finance Corporation (CEFC) has announced a $100 million investment in a pioneering build-to-rent (BTR) strategy led by AXA IM Alts. This initiative integrates clean energy technologies to provide high-quality, sustainable, and affordable housing in Australia’s largest cities.
Aiming for Affordable, Sustainable Housing
The strategy initially targets 3,000 apartments, with half available at discounted rents for means-tested tenants in employment hubs like Sydney, Melbourne, and Brisbane. Homes will align with International Energy Agency (IEA) zero-carbon building standards, emphasizing energy efficiency, electrification, and renewable power.
“This investment brings the benefits of sustainability to an important segment of Australia’s residential sector, at scale,” said CEFC CEO Ian Learmonth. “Making homes more resilient, healthy, and comfortable helps meet current and future housing needs while advancing net zero emissions.”
CEFC CEO Ian Learmonth
The first development, a 397-unit project in Westmead, Sydney, will offer housing for approximately 1,000 people, with priority given to healthcare, teaching, and emergency response workers. Completion is expected in late 2025.
Related Article: World Bank Approves $15 Million for Affordable Housing in Djibouti
Broader ESG Goals
The Westmead project and subsequent developments are designed to achieve at least a 7.5-star NatHERS home energy rating and a 5-star Green Star Building certification, setting new benchmarks in sustainable residential construction.
“Bringing the benefits of sustainability to all sectors of the residential market is an important part of broader decarbonization,” said Michael Di Russo, CEFC Head of Property.
Michael Di Russo, CEFC Head of Property
The project is managed by St George Community Housing (SGCH), a community housing provider with a track record of delivering energy-efficient homes.
Addressing Housing Affordability and Emissions
Residential buildings account for around 24% of Australia’s electricity use and 10% of total carbon emissions. CEFC’s $1.2 billion lifetime commitments have targeted energy efficiency and sustainability in the residential market, including a $170 million partnership with SGCH between 2015-2017 to construct 500 energy-efficient homes.
“This strategy addresses the shortage of quality, sustainable housing for key workers while supporting the transition to a decarbonized economy,” noted Antoine Mesnage, Head of Australia at AXA IM Alts.
Antoine Mesnage, Head of Australia at AXA IM Alts
By improving energy efficiency, the initiative reduces energy costs, which disproportionately benefit low-income households. These advancements aim to make sustainable living accessible to all, providing a replicable model for future affordable housing projects nationwide.
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$100 Million Investment
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AXA IM Alts
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