The Paul Ramsay Foundation (PRF) is pleased to announce further expansion of its impact investing through a $10 million investment in Palisade Impact Fund to support infrastructure solutions that work towards a cleaner and more equitable world.
The investment marks PRF’s twentieth impact investment since 2020, with impact investing playing a key role in PRF’s strategy to break cycles of disadvantage in Australia. Over $100 million has now been allocated for investments which seek to generate measurable positive social outcomes in addition to a financial return which allows PRF to further support its partners.
Palisade Impact Fund is a dedicated fund which focuses on themes around energy transition, digital inclusion and the circular economy for its investments in next generation infrastructure in Australia and New Zealand. Palisade Impact is the first fund PRF has invested in with an environmental focus, as it seeks to remove barriers to driving the Race to Zero: zero emissions, zero waste and zero inequality.
PRF’s Lead, Impact Investing Ben Smith said the investment was part of PRF’s new impact investing strategy, one pillar of which would see the foundation take a greater role in supporting emerging funds and fund managers aligned to its values and social purpose.
“Infrastructure has traditionally been funded by governments with access designed to benefit all of society, but we’ve seen how a shift towards privatised infrastructure, among other things, has had the unintended consequence of furthering digital exclusion and inequality,” he said. “This is evident in areas like high-speed internet, with the Digital Inclusion Index showing that 28% of Australians are technologically disadvantaged and 11% are highly excluded.
“Solving the major social issues of our time calls for new partnerships and innovative thinking. We’re excited by the potential of Palisade Impact Fund to drive change through investment in smarter, cleaner and more accessible infrastructure.”
Palisade Impact Fund CEO and co-founder Steve Gross said the fund was dedicated to investing in infrastructure that aligned with its environmental and social impact goals through driving the Race to Zero.
“As the world moves to a greener future, there is significant opportunity for investors to help drive the next-generation infrastructure that will make this possible,” he said. “Technological advances in areas like clean and distributed energy, clean energy storage and biogas, as well as recycling, will help us achieve this impact, and we’re proud to have PRF’s support to grow the businesses making progress towards a better world.”
Palisade Impact Fund’s key investment areas are:
- Energy: Focusing on energy transition (Sustainable Development Goal 7) including clean energy infrastructure, distributed energy and storage, electric vehicle charging and energy efficiency.
- Waste: Focusing on resource efficiency (SDG 12) including recycling and reuse, biogas and hazardous waste management.
- Connectivity: Focusing on digital inclusion (SDG 9) including smart city infrastructure and last mile communications infrastructure.
Media Contact: Pia Akerman 0412 346 746