We have developed a climate change road map which aims to improve portfolio resilience, mitigate exposure to risk and contribute through investing and advocating for change to generate sustainable long-term returns for members. IGCC now requires their members to do the same.
In September 2018, we publicly announced our commitment to net zero carbon emissions in our property portfolio by 2030. This will help us attract tenants and funding, and it reflects our values as a responsible investor. We were the first super fund to make this commitment. In December 2018, we expanded this to include our infrastructure portfolio.
In December 2018, our Investment Committee approved a dedicated allocation to climate investment opportunities of 1% total portfolio. Although we already invest in climate opportunities through our property and infrastructure portfolios, we believe there are greater opportunities available to support climate transition. Investments that might form part o this new allocation include renewables, green buildings, sustainable transport,water infrastructure, agriculture,waste technology, mining and information technology. During the financial year we identified our first investment to seed a portion of our 1% climate-related opportunities strategy and expect funding to occur by June 2020.
We have identified a forward looking transition risk metric for use in our quantitative equity strategies. This will be implemented in 2020.
Cbus consider its approach to responsible investment in its Funds operations, for example we support gender diversity and produce an integrated report, corporate responsibility report and report against the TCFD recommendations.
We were one of the first Australian Asset Owners to become a signatory to the Australian Asset Owners Stewardship Code.
Cbus was the first Australian asset owner to adopt the SDGs. Cbus identified 6 SDGs in 2016 to which we believed we could provide a meaningful contribution. We continue to evolve our approach.