Document ID: chunk:federal_register_of_legislation:F2023L01023:body:0:p10
Version: federal_register_of_legislation:F2023L01023
Segment Type: other
Provision Reference: 
Character Range: 24819–28013

apply concessionality in line with the risk and return settings and to optimise impact in line with the Government's objectives for the Household Energy Upgrades Fund. Concessionality reflects the mark-to-market valuation of loans made that financial year and should be measured as the difference between the present value of each loan at market rates and the present value of each loan at the given concessional rate.
    17.        Sub-Fund accounting

      (1)    The monetary amounts specified for each Sub-Fund do not limit the Corporation's investments in the areas of the Sub-Funds, although only investments up to the amounts specified in respect of the Sub-Funds benefit from their respective benchmark rate of return and risk level arrangements.
      (2)    To the extent the Corporation makes (or has made) an investment which could qualify as an investment in respect of any Sub-Fund, from amounts made available before the relevant funding (including new funding) is credited to the Account in respect of the relevant Sub-Fund, the Board may treat that investment (including, without limitation, in respect of the relevant benchmark rate of return and risk level arrangements) as an investment made in respect of the relevant Sub-Fund.
    18.        Reporting Outcomes

The non-financial outcomes of all the Corporation's investments, including those under each Sub-Fund, must be included in the Corporation's annual report.
The Corporation, in meeting its requirements under paragraph 74(1)(d) of the Act, should provide for each program the disaggregate value of concessions given for each of the General Portfolio and Sub-Funds.
    19.        Corporate Governance

The Board must have regard to Australian best practice in determining its approach to corporate governance principles.
The Board must develop policies with regard to environmental, social and governance issues and First Nations investment screening procedures. The policies should be published on the Corporation's website.
    20.        Environmental and social impact considerations

In assessing its investments, the Corporation should, where practical, take into account that:
      (a)   social licence for the deployment of clean energy technologies is essential to their success; and
      (b)   the provision of local employment opportunities in the delivery of clean energy technologies is a priority for the Australian Government; and
      (c)   projects in the waste sector should demonstrably adhere to the accepted waste hierarchy policies, to avoid, reduce, reuse and recycle waste; and
      (d)   bioenergy projects should source sustainable feedstocks, including avoiding adverse impacts on native forests.
    21.        Collaboration and Cooperation

    The Board should, where practical and appropriate, in order to facilitate the Corporation's investment functions, seek to cooperate and collaborate with other Commonwealth entities and any State and Territory entities that are also able to support investments in clean energy technologies.

    Commonwealth entities include, but are not limited to the following:

      (a)   The Australian Renewable Energy Agency;
      (b)