The Infrastructure Sustainability Council of Australia will help create a sustainability scheme for the Chinese infrastructure industry.

The collaboration agreement with a Chinese alliance, struck during Australia Week in China, will see the creation of the Green Infrastructure Finance Accreditation Scheme, which is based on ISCA’s Infrastructure Sustainability scheme.

The scheme, like ISCA’s, will see the sustainability of projects during construction and operation rated, with benefits of a rating said to be reduced emissions, enhanced social acceptance and reduced project investment risk.

The GIFA alliance consists of urban development sustainability outfit China City Development Foundation, global network Green World City, and ISCA.

“This is a significant initiative when you consider the current and future infrastructure plans for China and highlights Australian government and private sector world leadership in the infrastructure sustainability space,” ISCA chief executive Antony Sprigg said.

An ISCA release said the formal announcement and launch of the organisation leading the development and deployment of the GIFA scheme would happen soon, and would likely include a number of central Chinese government bureaus.

“We are looking forward to a long-term collaborative partnership with China through this initiative, which we hope will facilitate institutional and grassroots environmental and social benefits as well as commercial opportunities for our members,” Mr Sprigg said.