Media release – UTAS, 23 February 2022

The University is looking to partner with sustainable investors

The University of Tasmania has launched a green bond to attract investors who share our sustainable values.

Green bonds are designed to play a leading role in the investment market enabling funds to be directed to projects that deliver positive environmental outcomes.

The University has a proud sustainable record, and as part of our commitment to sustainability and in recognition of the urgency of the climate crisis and the need to limit warming to 1.5°C, we are committed to support the development of a zero-carbon economy. Our support includes:

    • being carbon-neutral certified since 2016, including annual public reporting
    • becoming an International Universities Climate Alliance member in 2020
    • our divestment strategy, to reposition the University’s investment portfolio in 2021 away from carbon-intensive investments
    • joining the Race to Zero in 2021, and
    • our commitment to sustainable development in the built environment

Our commitment was recognised in 2021 at the Green Gown awards Australasia where we won the major accolade – Sustainability Institution of the Year.

While most jurisdictions globally are grappling with the challenge of decarbonising electricity generation, this is not the case for Tasmania with one of the lowest carbon electricity grids in the world with its primary energy source being renewable hydroelectric.  Given this the University has decided the most impactful pathway for our contribution to decarbonisation is to reduce upfront embodied carbon embedded within our building programme and focus on leading transformative change of the construction industry.

The Green Bond Framework commits the University to a minimum target reduction of 20% in the upfront carbon emissions embedded in construction of new campus buildings.

We are experienced in this approach with campus build designs in the state’s north already delivering a 30% reduction in embodied carbon for the Willis Street and Rivers Edge developments at Inveresk.

“The University has divested from fossil fuel exposed investment funds and is now looking to partner with investors who share its values,” the University’s Chief Operating Officer, Mr David Clerk, said.