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26/11/2024

Specialist Investment Vehicles

Specialist investment vehicles (SIVs) are Commonwealth entities that prudently invest public funds across diverse sectors such as:

  • energy and climate
  • critical minerals or resources
  • housing
  • agriculture
  • export trade and international development.

As at 30 June 2023, there are 8 SIVs responsible for more than $85 billion of capital allocated by Government which is projected to increase to more than $100 billion.

These funds are used to finance additional investment in the economy to build a stronger, more resilient and inclusive future for all Australians.

The SIV portfolio comprises the following entities

Australian Infrastructure Financing Facility for the Pacific

To advance Australia’s national interest by contributing to a stable, secure and prosperous Pacific.

Australian Renewable Energy Agency

To provide financial assistance for research, development, demonstration, commercialisation, deployment and storage and sharing of information of renewable energy technologies.

Clean Energy Finance Corporation

To facilitate increased flows of finance into the clean energy sector and to achieve Australia’s greenhouse gas emissions reduction targets.

Export Finance Australia

To support Australian export trade and overseas infrastructure development that benefits Australia.

Housing Australia

To improve access to social and affordable housing outcomes for Australians.

National Reconstruction Fund Corporation

To secure future prosperity and drive sustainable economic growth by facilitating increased flows of finance into priority areas of Australia’s economy.

Northern Australia Infrastructure Facility

To stimulate economic growth in Northern Australia by attracting private investment, fostering infrastructure development and supporting various industries.

Regional Investment Corporation

To support the growth, resilience and sustainability of Australia’s agricultural economy.

Resource Management Guide 127 - Specialist Investment Vehicles

RMG 127 - Specialist Investment Vehicles (SIVs)

This guide will support SIVs in meeting their requirements.

The Australian Government’s relationship with SIVs

The Australian Government’s relationship with SIVs include:

  • a strong interest in how SIVs meet the policy objectives set by Government
  • reporting and accountability arrangements that facilitate an active oversight role by the responsible minister and Finance Minister
  • board independence and autonomy set by Government mandated directions for SIV performance.

The Department of Finance’s role

The Department of Finance (Finance) plays an important role in providing centralised oversight of the SIV portfolio. Finance provides advice to the Australian Government in relation to corporate governance, commercial matters and whole-of-portfolio considerations.

The primary responsibilities of Finance’s oversight role are to:

  • engage with respective portfolio departments and SIVs where there is a defined Finance Minister role
  • ensure robust governance frameworks are in place to enhance transparency, accountability and effectiveness of the SIV portfolio
  • provide active oversight of SIV portfolio performance and collective risk exposure to the Government’s balance sheet
  • provide sound strategic advice to the Government on the governance, performance and risk of the SIV portfolio.
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