The Board of the Clean Energy Finance Corporation (CEFC) has appointed Ian Learmonth as its new Chief Executive Officer (CEO) commencing May 15, 2017.
Learmonth, who has a strong background in financial services, replaces outgoing CEO, Oliver Yates.
He currently leads the Impact Investing team at Social Ventures Australia, which has 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.
CEFC chair Jillian Broadbent welcomed the new CEO, adding that his diverse experience, demonstrated leadership and strategic thinking which will serve the next phase of the CEFC's activities to catalyse new investment into the clean energy sector.
"This is an important time in the evolution of Australia's energy markets and indeed the CEFC," Broadbent said.
"Clean energy is available at increasing scale and price competitiveness and significant new investment is required if we are to achieve the goal of a secure, affordable and sustainable energy system.
"With appropriate planning and coordination, including around strengthened transmission, demand management systems and storage capacity, we are confident Australia's energy mix can incorporate higher levels of clean energy."
Broadbent also paid tribute to outgoing CEO Oliver Yates, who advised the Board late last year of his decision to step down.
"As our inaugural CEO, Oliver built an effective investment platform with a high-quality team," she said. "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."
Following the announcement, Learmonth said he looked 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.
Learmonth joined Social Ventures Australia (SVA) in 2011 to establish its Impact Investing team. He structured and launched Australia's first Social Impact Bond, established a dedicated Social and Affordable Housing fund with HESTA and has advised the New Zealand Government on its social bond program.
He was executive director of Macquarie Group for 12 years and has investment banking experience in Sydney, Hong Kong and London.