The Gillard Government is pleased to confirm the appointment of Ms Jillian Broadbent AO as the chair of the Clean Energy Finance Corporation (CEFC) Board for a five-year term and announce the appointments of Mr Michael Carapiet, Mr Ian Moore, Ms Anna Skarbek and MrAndrewStock as members of the CEFC Board each for a five-year term.
The commercially orientated CEFC will facilitate greater private sector investment in renewable energy, low-emissions technology and energy efficiency. It is a key part of the Governments Clean Energy Future package, working alongside the carbon price, the Renewable Energy Target and the Australian Renewable Energy Agency to transform our economy to cleaner energy sources.
The CEFC Board will operate and make its investment decisions independently of the Government and based on rigorous commercial assessments. The CEFC will commence investing funds from 1 July 2013. The CEFC Board bring significant experience and expertise in banking and finance, the energy sector and low-carbon technologies.
Ms Broadbent has had a distinguished career in the banking sector. She was made an Officer of the Order of Australia in 2003 for service to economic and financial development in Australia and to the community through administrative support for cultural and charitable groups. Ms Broadbent is a member of the Board of the Reserve Bank, a position she has held for over 14 years. She also serves on the boards of Woolworths Limited and ASX Limited and is the Chancellor of the University of Wollongong. Her reputation and experience gained over her career and as chair of the CEFCs Expert Review Panel puts her in a strong position to provide leadership during the initial years of this corporation.
Mr Carapiet recently retired after a 22-year career as an investment banker at Macquarie Bank. He headed the investment banking division of Macquarie Capital and became the executive chair in 2010. He is currently the chair of SAS Trustee Corporation NSW and a non-executive director of Southern Cross Media Group Limited. From 2005-2011, he was the deputy chair and board member for the Export Finance and Insurance Corporation.
Mr Moore was also part of the recent CEFC Expert Review Panel. He has 22 years of banking and finance experience, predominantly at Bankers Trust. He was the head of Bankers Trusts corporate finance business and a member of the banks Credit Committee. . He is on the board and audit committee of the responsible entity of two listed companies, Challenger Infrastructure Fund and Challenger Diversified Property Fund. He was previously a board member and chair of the risk committee of hedge fund, Artesian Capital Management.
Ms Skarbek is the executive director of ClimateWorks Australia. Before this, she worked in Londons carbon markets, as vice president at Climate Change Capital a specialist investment manager and advisor dedicated to raising and deploying capital for low carbon activities. Her career also includes being a senior policy advisor to the Victorian Deputy Premier, investment banker in Macquarie Banks energy and utilities team and a solicitor with Mallesons Stephen Jaques. She is currently a member of the Land Sector Carbon and Biodiversity Advisory Board and a director of the Carbon Market Institute.
Mr Stock recently retired after a long career at Origin Energy. As executive general manager, major development projects and an Australia Pacific LNG director, he was responsible for Origins major capital projects in upstream petroleum, power generation, and low-emissions technology businesses. His almost 40 years experience in the energy sector included senior management roles in petroleum and petrochemical companies in Australia and overseas. He is currently a director of Geodynamics Limited, Horizon Oil Limited and a member of Engineering and Energy Advisory Boards at Adelaide and Melbourne Universities.
Todays board appointments will underpin a robust and rigorous organisation which will help ensure Australia remains competitive as we move towards a carbon-constrained global economy.