NRFC names new Net Zero Fund head

The National Reconstruction Fund Corporation (NRFC) has appointed Lauren McGregor as head of its Net Zero Fund, where she will oversee the investments aimed at helping emissions-intensive industries decarbonise and domestic manufacturers of low-emissions technologies scale up.

McGregor brings experience financing the Australian resources sector to the role, which will focus on investments that support industrial decarbonisations while strengthening the competitiveness of Australian businesses.

She said the opportunity to help turn decarbonisations plans into projects was a key attraction of the role.

"I'm really excited about the opportunity to help turn decarbonisation plans into real projects," McGregor said.

"The challenge isn't a lack of ambition. It's often a lack of capital, confidence, or the right commercial conditions to get projects moving."

McGregor said her experience in resources had reinforced the importance of looking beyond funding when assessing projects, with execution, infrastructure and commercial considerations also critical.

"Capital is only one piece of the puzzle," she said.

She said partnerships between industry, investors and government would also be important as Australia works to reduce emissions across some of its most emissions- intensive industries.

The Net Zero Fund is designed to support commercially viable projects that could face barriers including high upfront costs, technology risk, long payback periods and global competitive pressures.

McGregor said the fund's objective was not to replace private capital, but only to help unlock investment where NRFC involvement could make a difference.

"We still need to see strong management teams, sound project economics, and a clear rationale for why our involvement is needed," she said.

The fund will have specific focus on industrial decarbonisation, including emissions reduction, energy efficiency and technologies intended to help Australian industry compete in a lower carbon economy.

McGregor said the fund also had a broader objective to support new technologies, supply chains and sovereign capabilities.

"My goal is for the fund to make a genuine difference, not only in reducing emissions, but also in strengthening Australian industry and helping build the industries that will underpin our future economy," she said.

For businesses seeking investment, McGregor said applications should clearly outline the problem being addressed, the expected emissions or energy-efficiency impact and why NRFC involvement was required.

"The strongest applications are usually the ones that are honest about both the opportunities and the risks and can clearly explain why the project deserves support," she said.