ANNOUNCEMENT 11 Apr 2019

The Australian government-funded Clean Energy Finance Corporation has announced the allocation of up to AUD 50 million to AllianceBernstein.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Clean Energy Finance Corporation. Media. "AllianceBernstein aims to take low-carbon investing to next level with lower emissions and higher investment returns" Available at: https://www.cefc.com.au/media/files/alliancebernstein-aims-to-take-low-carbon-investing-to-next-level-with-lower-emissions-and-higher-investment-returns/

Australian Government. Department of Industry, Innovation and Science. Australian Industry Participation. Available at: https://industry.gov.au/industry/IndustryInitiatives/AustralianIndustryParticipation/Pages/default.aspx

Inception date: 11 Apr 2019 | Removal date: open ended

State loan

On 11 April 2019, the Clean Energy Finance Corporation (CEFC) of Australia has announced the allocation of up to AUD 50 million (over USD 35.6 million at the time of the announcement) to AllianceBernstein, a global investment manager.

The objective of these resources is to implement a new Australian equities strategy that seeks to build a carbon-neutral portfolio. With this regard, CEFC CEO Ian Learmonth said: “Together with AllianceBernstein, we welcome this opportunity to work with leading Australian listed companies as they accelerate their transition to lower carbon emissions."


Clean Energy Finance Corporation 
The Clean Energy Finance Corporation is a government-funded financier created to fund clean energies. To achieve these goals, the Australian government has provided credits of AUD 2 billion each year from 1 July 2013.

The statutory text, the Clean Energy Finance Act 2012, states that only solely or mainly Australian-based investments are eligible for these resources.

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AFFECTED PRODUCTS

 
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