Trillions of dollars are needed to fund the climate transition, with both the private sector and governments required to contribute. Australia’s answer is the Clean Energy Finance Corporation (CEFC), the world’s largest green bank. 

Established by the government in 2012 with an initial funding of A$10 billion ($6.5 billion), it was tasked with financing green projects and ambitious Australian climate startups at a time when large-scale investments in things like wind and solar were still seen as too risky for most private banks. Despite early efforts by opposition parties to abolish the bank, over the past 10 years it has made itself an essential part of Australia's energy transition and, in June, received an extra A$20.5 billion to help the country meet its target of 82% renewables by 2030.  

This week on Zero, Akshat Rathi sits down with CEFC chief executive officer, Ian Learmonth, to learn how this huge amount of money will be spent, why the CEFC had so many enemies early on, and what kind of innovative startups and clean-tech projects the organization is looking to fund.

For more: 
Our episode with Jigar Shah, a $9 Billion Deal to Supercharge US Cleantech
Our episode on Australia’s new climate politics
A transcript of this episode

Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Special thanks to Gilda Di Carli and Kira Bindrim. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit bloomberg.com/green

Trillions of dollars are needed to fund the climate transition, with both the private sector and governments required to contribute. Australia’s answer is the Clean Energy Finance Corporation (CEFC), the world’s largest green bank. 
Established by the government in 2012 with an initial funding of A$10 billion ($6.5 billion), it was tasked with financing green projects and ambitious Australian climate startups at a time when large-scale investments in things like wind and solar were still seen as too risky for most private banks. Despite early efforts by opposition parties to abolish the bank, over the past 10 years it has made itself an essential part of Australia's energy transition and, in June, received an extra A$20.5 billion to help the country meet its target of 82% renewables by 2030.  
This week on Zero, Akshat Rathi sits down with CEFC chief executive officer, Ian Learmonth, to learn how this huge amount of money will be spent, why the CEFC had so many enemies early on, and what kind of innovative startups and clean-tech projects the organization is looking to fund.
For more: 
<ul>
<li aria-level="1">Our episode with Jigar Shah, a<a href="https://podcasts.apple.com/gb/podcast/zero-the-climate-race/id1621556928?i=1000617964853"> $9 Billion Deal to Supercharge US Cleantech</a></li>
<li aria-level="1">Our episode on <a href="https://podcasts.apple.com/gb/podcast/zero-the-climate-race/id1621556928?i=1000582465514">Australia’s new climate politics</a></li>
<li aria-level="1">A <a href="https://www.bloomberg.com/news/articles/2023-09-07/the-world-s-biggest-green-bank-is-electrifying-australia?srnd=green-zero-emissions-podcast">transcript</a> of this episode</li>
</ul>
Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Special thanks to Gilda Di Carli and Kira Bindrim. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit <a href="https://www.bloomberg.com/green">bloomberg.com/green</a>

Zero is about the tactics and technologies taking us to a world of zero emissions. Each week Bloomberg’s award-winning reporter Akshat Rathi talks to the people tackling climate change – a venture capitalist hunting for the best cleantech investment, scientists starting companies, politicians who have successfully created climate laws, and CEOs who have completely transformed their businesses. The road to zero emissions has many paths and everyone’s got an opinion about the best route. Listen in.

Zero: The Climate Race

Zero

How the world’s biggest green bank is electrifying Australia

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c7e75f56-e8fd-4810-a8f9-b07300cfebea/transcript

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