The $10 billion Clean Energy Finance Corporation says it has has appointed Ian Learmonth – the current head of the Impact Investing team at Social Ventures Australia – as its new chief executive officer.
Learmonth will replace founding CEO Oliver Yates and will take up his new position on May 15. Like his predecessor, Learmonth is an ex-Macquarie Group banker – for 20 years – and left to set up the Impact Investment team at SVA.
The CEFC said in a statement that Learmonth has a strong background in financial services, both in Australia and internationally and had advised and invested on a range of large-scale infrastructure projects, including renewable energy technologies.
His role at Social Ventures Australia had a strong “cross over” with CEFC investment activities, particularly in the areas of energy efficient affordable housing and the built environment.
Learmonth has also served as an independent member of the CEFC Executive Investment Committee for the past nine months.
“I look forward to leading the CEFC to fulfil its role in increasing the flows of finance into the clean energy sector and contributing to efforts to meet Australia’s targeted reductions in CO2 emissions,” he said in a statement.
CEFC chair Ms Jillian Broadbent said: “His diverse experience, demonstrated leadership and strategic thinking will serve the CEFC well in the next phase of our activities as we continue to deliver on our mission to catalyse new investment into the clean energy sector.”
She also also paid tribute to Yates, the former Macquarie Group banker and green infrastructure specialist who advised the board late last year of his decision to step down.
“We have an exciting pipeline of opportunities and have delivered a strong investment performance across a diverse portfolio covering over $3.3 billion in commitments. Oliver leaves with our sincere appreciation and we wish him every success for the future.”