Ian Learmonth

The Clean Energy Finance Corporation has appointed Ian Learmonth as its new chief executive, replacing Oliver Yates, who last year announced he was stepping down.

Mr Learmonth currently leads the impact investment team at Social Ventures Australia, which deploys capital from a range of investors for financial and social returns. Prior to this he was a senior managing director for Macquarie Bank for 13 years in Hong Kong, London and Sydney.

CEFC chair Jillian Broadbent said Mr Learmonth had a strong background in financial services, including in the clean energy sector.

“The board of the CEFC is delighted to welcome Ian as the new CEO,” she 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.”

Ms Broadbent said it was currently an important time in the evolution of Australia’s energy markets and the CEFC.

“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.”

Mr Learmonth said he was looking forward to leading the body in fulfilling its role of increasing finance into the clean energy sector and helping meet Australia’s emissions reduction target.

Ms Broadbent also thanked outgoing chief executive Oliver Yates.

“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. Oliver leaves with our sincere appreciation and we wish him every success for the future.”

Mr Learmonth will begin on 15 May 2017.