Impact Report 2026

Our mission is to invest for positive impact and financial returns. We deliver impact investments that are authentic, accessible and scalable.

Our model involves investing in social and sustainability-focused assets, and managing these alongside our Impact Partners (the majority of which are not-for-profits). In this way, we can make financial investments, while ensuring assets are operated for tangible, positive impact.

We focus on investing in real assets across three impact themes:

Our funds have invested capital in a range of sectors – including social and affordable housing, Specialist Disability Accommodation, renewable power, carbon farming and social impact bonds. 

We believe that great impact investments are made, not found. Our team has experience across leading not-for-profits and institutional investment groups. This unique combination of team experience means we can bridge the impact and investment worlds, and manage the on-the-ground impact of our investments.

The corporate sustainability of CIM itself is central to achieving our vision and mission. We recognise we must hold ourselves to the highest standards, and embed responsible practices into our broader business.

• CIM has been certified as a carbon neutral organisation by Climate Active since 2020.
• CIM launched its Innovate Reconciliation Action Plan last year and reflects our commitment to move from reflection to action—building meaningful relationships, implementing structured initiatives, and embedding reconciliation into how we invest and operate.

• CIM is a signatory of the Operating Principles for Impact Management.
• In 2022, 2023, 2024, 2025 and 2026 Conscious Investment Management was assessed by Responsible Investment Association Australasia ("RIAA") as a Responsible Investment Leader, which demonstrates leading practice, using RIAA’s Responsible Investment Benchmark Report Australia Scorecard.

CIM recognises that Australia has an inadequate supply of stable, appropriate and affordable accommodation, particularly for those on low incomes. Not having secure and appropriate accommodation is often a barrier to educational attainment, stable work, strong health and wellbeing, and family and community relationships.

To address this challenge, we seek to partner with leading Community Housing Providers and Government to fund the development and acquisition of dwellings for social and affordable tenants.

Sustainable Development Goals addressed:

Over the past two years, CIM has been focused on investments that scale Australian social and affordable housing through the Housing Australia Future Fund (HAFF). After reaching final close on the Conscious Investment Management Social Housing Fund 2 in June 2025, with $181M of commitments to the fund and its co-investment vehicles, CIM has been deploying this capital over the past year. As at the date of this report, CIM has announced five HAFF transactions alongside three different Tier One CHPs across three states, representing 325 social and affordable dwellings and the deployment of $40M of CIM capital. 

CIM is currently looking to use the remainder of these commitments over the next year to finance a further 13 projects through the HAFF program or State equivalents, across six states and territories with various Tier One Community Housing Providers. If all projects are completed with CIM financing, it would represent over 2,000 new social and affordable dwellings, expected to provide housing to over 3,000 residents.¹

Consistent with CIM’s model, these investments are structured with long-term (25-year) payments from Housing Australia, but importantly, put trusted Community Housing Providers (CHPs) front and centre.

CIM’s structuring approach prioritises ongoing housing outcomes. Projects are designed so that CHPs retain ownership of properties at the end of the HAFF term and housing stock remains within the community housing system, where it can continue to work for future generations.² 

While using a different structure, CIM’s early investments into social and affordable housing in Victoria—now operational for over three years—have provided a valuable foundation, directly informing CIM’s HAFF strategy.²

In June 2026, CIM made its third biodiverse environmental planting investment alongside Greening Australia via the XX mandate. XX provided financing for the purchase of an 1,800-hectare property in South Australia named “Pollies Plain”. Greening Australia plants to plant ~640,000 native trees and shrubs on the property in 2028.

Consistent with our initial structure with Greening Australia, where CIM provided the upfront capital, this project is intended to be registered with a 100-year permanence year permanence period and is designed so that Greening Australia and its community partners can maintain the reforested land – effectively creating new parkland that we hope exists for generations.¹

This investment builds on Greening Australia and CIM’s first project together – Nyadinang Najung – which was financed in 2024. In late October 2025, CIM invited investors to visit the property and meet the Greening Australia team. See via this link a video that provides an overview of the project and showcases the property that will be restored under the partnership.

CIM has been investing in the Specialist Disability Accommodation ("SDA") sector since February 2020, partnering with Liverty Housing to deliver high-quality, long-term accommodation in undersupplied SDA areas.

To date, CIM has financed 114 SDA apartments alongside Liverty Housing around Australia. Unlike many other forms of disability accommodation, these homes are apartments integrated into standard residential buildings, strengthening tenants’ connection to their communities and encouraging genuine independence.

Over the financial year, the Government announced National Disability Insurance Scheme ("NDIS") reforms aimed at improving the scheme’s long-term sustainability—including tighter eligibility, provider registration and anti-fraud measures - but made no specific changes to Specialist Disability Accommodation funding, eligibility or pricing..

CIM does not expect any material or direct impact on SDA assets and views reforms that strengthen the NDIS’s long-term viability as supportive of our SDA investments.

As one of Australia’s pioneering and largest SDA providers, Liverty Housing continues to advocate for its tenants and is actively working to develop and pilot new care and housing models that deliver riskmanaged, high-quality supports while remaining financially viable for care providers. CIM has continued to back this work, with a consistent focus on the quality and stability of tenants’ homes.

As Liverty Housing CEO Stuart Miller notes, “CIM has been leading the way in addressing care deficiencies and ensuring that tenant safety and long-term tenant retention in their homes are the dominant influence.”

This year, CIM is proud to share Felice’s story, a tenant at one of the SDA apartments financed by CIM.

I am a person in my late forties and a power wheelchair user living with multiple medical conditions.

I have lived in all kinds of housing since leaving my parents’ home at 17. From university residence to share houses, then living with partners to living alone.

In all these situations, I relied on strict rostering set up by support agencies. This left little space for changing plans or emergency support situations. I had to beg for someone to come and help me if I needed to use the bathroom or a change of clothes.

At my last unit, people were afraid to come and assist me because it was government owned high-rise housing. I did have access to After Hours support if I chose to go out at night, but it was pricey, and I didn’t like strangers in my home. My life felt restricted, and I was often depressed. I tried to maintain employment, but it wasn’t being offered to me.

In 2020, I attended the Midsumma Carnival where Summer Foundation had a stall. I didn’t know that something like SDA existed. The representatives were very patient and explained the entire process with contact details. I got home and felt so hopeful for a fresh start, I hugged my cat.

I contacted the Engagement Officer the next day and they talked about assisting me to get a new NDIS plan that would include SDA funding. After months of waiting and submitting what seemed like endless evidence of my eligibility, housing funding was approved in a three-tenant arrangement.

I am unable to share accommodation because of dietary requirements and wanting to have animal companions throughout my life. I also need for my partner to stay at night without needing permission and most shared SDA does not allow for this. I appealed the decision and asked for an Internal Review. The NDIA upheld it and made no changes.

I felt extremely frustrated, so I contacted a tenants advocacy organisation for an AAT (now ART) hearing journey. The scope of knowledge needed to effectively present my case was beyond them, so I was extremely fortunate to receive assistance from a barrister at Victorian Legal Aid. I realise that this does not happen for everyone.

I continued to pursue single SDA accommodation options with Summer Housing. Summer Housing’s investors agreed to cover gaps in SDA funding until the hearing so I could move as soon as I was ready. After too many stressful conference calls lasting for months, the NDIA agreed to give me one tenant/1 bedroom with On Site Support funding, only hours before the hearing was scheduled to begin.

I moved into my new apartment in early January 2021. I have a beautiful garden view from the fourth floor. I now have two cats and part time employment.

The 10:1 support model has changed my life as I can go out and return home at any time I choose, and I have assistance in between regular supports.

I finally have the freedom to explore all my interests and contribute to the community. I am living life, and it truly feels wonderful.  I can go to social and professional events looking and feeling my best, without the anxiety that used to be a daily occurrence.

“I finally have the freedom to explore all my interests and contribute to the community. I am living life, and it truly feels wonderful.”