Since 2006, Macquarie has invested in Clean Development Mechanism (CDM) projects. As at 31 March 2014, Macquarie held a portfolio of 40 CDM projects, that could generate over 25 million emissions credits. 

## Asset financing 

Macquarie uses its specialist expertise in finance and asset management to provide the following solutions and services: 

– energy efficient asset finance 

– solar photovoltaic system financing 

## Energy efficient asset finance 

Established in November 2011, the Energy Efficient Asset Financing Program focuses on energy efficient assets in Australia. The program has brought a new source of finance to stimulate uptake of, and investment in, clean energy technologies in existing commercial buildings and industries throughout Australia. Equipment finance can include: solar PV, energy-efficient lighting systems, heating, ventilation and air-conditioning, and smart building systems. 

## Smart metering finance 

Macquarie continued to increase its funding lines to UK energy retailers to facilitate the accelerated roll-out of smart gas and electricity meters which assist with efficient energy management in the industrial, commercial and residential sectors. 

Macquarie currently leases more than 860,000 smart meters to energy retailers in the UK and has recently been awarded several significant additional smart meter contracts that are expected to result in leasing a further 266,000 smart electricity and gas meters. This will see Macquarie finance a total of 1.13 million smart meters by 31 March 2015. 

Macquarie will continue to work closely with the UK government and energy suppliers to facilitate an effective roll-out of smart meters to 27 million homes by the end of 2020. 

## Solar photovoltaic system financing 

During FY2014, Macquarie Energy Leasing continued to expand its commercial rooftop solar finance offerings in Australia. The business is using existing channels to market through its extensive broker network as well as direct to large corporate vendors. 

## Specialised ESG products 

Macquarie has experienced teams that offer clients specialised investment products that respond to and support their particular ESG requirements. Examples of these investments include: 

– Delaware Investments SRI products – Delaware has longstanding experience in ESG investing and seeks to invest in companies that incorporate positive ESG behaviour into their business operations. Offering a spectrum of specialist products to investors, total assets managed under these SRI strategies is $US790million as at 31 March 2014 

– Macquarie Private Portfolio Management (MPPM) offers wholesale clients customised investment solutions aligned to their specific ESG goals or screening preferences. MPPM also provides retail clients with access to model portfolios with a broad, socially responsible investing bias using both internal and external factors. All clients investing in MPPM-managed strategies have access to a research process that includes embedded ESG-focused factors. The combined funds under management covered by these strategies is $A1.3 billion. 

## People and workplace 

Macquarie recognises that its most important assets are its people. Macquarie recruits talented individuals and encourages them to realise their potential in an environment that values excellence, innovation and creativity. Macquarie provides a wide range of programs that reflect Macquarie’s Goals and Values  and support the development, diversity and wellbeing of our employees. This ensures the business continues to meet the highest standards and serves the evolving needs of its clients. 

## Integrity and good decision-making 

Macquarie recognises that the trust and confidence of its clients and the community are critical to its long-term success. Staff are expected to act with honesty and integrity at all times. These principles, and the Goals and Values  that govern Macquarie’s approach, are set out in What We Stand For. 

Macquarie established the role of Integrity Officer in 1998. The Integrity Office now includes a group-wide Integrity Officer supported by regional Integrity Officers. The Integrity Office reports directly to the Chief Executive Officer (CEO) and regularly updates the Board Governance and Compliance Committee. 

To ensure that Macquarie’s culture of honesty and integrity remains strong throughout the organisation, the Integrity Office coordinates specific training on Macquarie’s Goals and Values for all staff who join Macquarie. Integrity Officers meet regularly with business groups to train and support staff in good decision-making and to promote continued awareness of the principles that underpin the way Macquarie operates. 

In addition, the Integrity Office draws on the St James Ethics Centre as an independent advisory resource. In partnership with the St James Ethics Centre, Macquarie has developed a number of training modules that continue to be provided to staff. 

