Sustainable finance refers to the process of taking environmental, social and governance (ESG) considerations into account when making investment decisions in the financial sector, leading to more long-term investments in sustainable economic activities and projects.
CIMIC Group supports the transition to a low-carbon, more resource-efficient and sustainable economy through our business operations, including our financial investments.
Our contribution to a sustainable economy includes our tax and payroll tax contributions.
We are committed to the management and payment of taxes in a sustainable manner which considers the commercial and social imperatives of governments, our business and our stakeholders. This commitment is supported by strong corporate governance policies.
We comply with all applicable rules, laws and regulations governing business reporting. All information created and maintained as a result of our business activities must accurately reflect the underlying transactions and events and follow Group reporting policies and procedures.
Financial officers, and others responsible for the accuracy of financial reporting, have an additional responsibility to ensure that adequate internal controls exist to achieve truthful, accurate, complete, consistent, timely and understandable financial and management reports that are prepared in accordance with relevant laws, accounting standards, policies and procedures.
Our construction, services, and PPP activities promote sustainable development and innovation.
Our PPPs integrate CIMIC Group’s financial strength and collective expertise to create, fund, own, deliver and operate sustainable solutions. Our portfolio of current and divested PPP assets spans renewables, motorways, metro rail, rail fleet, justice facilities, schools, and hospitals.
PPPs such as Canberra Light Rail make a social, economic, and environmental contribution, underpinning the prosperity, productivity and liveability of our cities and communities.
Our development and investment arm, Pacific Partnerships acquiring the development rights for the Glenrowan Solar Farm in northern Victoria, and securing a long-term contract with the State of Victoria for the sale of solar power from the facility, are further examples of our contribution to sustainable development.
Glenrowan Solar Farm is the first large-scale solar farm to be owned and developed by CIMIC Group as principal.
Established by the EU Commission, the EU Taxonomy is a common classification system that defines which projects and activities are environmentally sustainable. It provides a methodology to calculate the proportion of a company’s revenue, capital expenditure (capex) and operating expenditure (opex) that are considered environmentally sustainable.
Reporting requirements associated with the EU Taxonomy require companies to disclose a description of how, and to what extent, their activities are associated with Taxonomy eligible and aligned activities. For the 2022the disclosures include the proportion of revenue, capex and opex for inclusion in the Taxonomy.
For CIMIC, these proportions were:
Eligible activities 2022:
Aligned activities 2022:
Note 1: Not required to be calculated or reported by CIMIC in 2021, only applicable onwards from 2022.