QSCF Green Bond
Dec 4, 2019

In a world first for the retail property sector, in 2019 the QIC Shopping Centre Fund (QSCF) issued a $300 million Climate Bond certified green bond, demonstrating QIC RE’s commitment to enhancing environmental performance across its Australian retail portfolio.


The green bond represents an important milestone for QSCF, and the retail sector globally, and is an endorsement of QIC RE’s progress and ongoing focus on sustainability.

QIC RE is committed to delivering sustainability initiatives such as upgrades and the intelligent automation of centre plant and equipment and installing LED lighting.

These initiatives generate strong commercial outcomes, as well as reducing QIC RE’s environmental footprint.

QIC RE Managing Director, Michael O’Brien, said that the green bond’s overwhelming success demonstrated that investors are increasingly seeking out more sustainable investment options.

“The QSCF green bond was five times oversubscribed and attracted new investors with green and ESG mandates to the Fund from across Asia and Australia.” - Michael O'Brien, QIC RE Managing Director

QIC RE is also continuing to progress opportunities to align QSCF’s capital management strategy, that seeks to diversify its funding sources, with QIC RE’s strategy of driving sustainability initiatives across its retail portfolio.

The Clean Energy Finance Corporation (CEFC) made a cornerstone investment of AUD30 million in the QSCF green bond, following its collaboration in 2017 with QSCF through an AUD200 million senior debt facility, which included a framework to undertake improvements in energy performance across QSCF’s shopping centre portfolio.

ESG 2019