Scaling sustainable infrastructure investment with the FAST-Infra Sustainable Infrastructure Label

Macquarie is working with FAST-Infra and partners to create a globally applicable sustainability labelling system that aims to transform sustainable infrastructure into a mainstream, liquid asset class.

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Sector Infrastructure
Sub-sector Sustainable infrastructure
Location Global


According to the G20’s Global Infrastructure Outlook, the world needs to invest an additional $US18 trillion in infrastructure above current projections by 2040, including $US3 trillion to meet the UN Sustainable Development Goals. An urgent acceleration of investment into infrastructure is therefore required.1

Ensuring this investment is channelled into sustainable projects is essential. However, investors currently lack a common framework for evaluating the sustainability of infrastructure projects. This is the challenge a new initiative, developed by FAST-Infra and co-chaired by Macquarie, aims to address.

By creating a globally applicable sustainable infrastructure label, the initiative aims to give investors confidence and visibility over a project’s contribution to existing sustainability taxonomies and standards. In turn, this should raise the standard of infrastructure projects, while helping to transform sustainable infrastructure into a mainstream, liquid asset class.


Macquarie used its deep experience in green investment and pioneering approach to sustainability analytics to help develop the label’s assessment framework. By building on existing standards, frameworks and taxonomies, we helped create a comprehensive set of sustainability criteria that can operate as a one-stop solution for sustainability labelling.

Working with partners in FAST-Infra, including the Global Infrastructure Facility and HSBC, an extensive mapping exercise of more than 25 leading taxonomies was undertaken. This was supported by a multi-stakeholder engagement process and public consultation to help refine the proposed approach, ensure it met current industry needs and challenges, and raise awareness.

In a strong signal of support, the Sustainable Markets Initiative (SMI) formed a strategic partnership with FAST-Infra in 2021. Member organisations from its Financial Services, Asset Managers & Asset Owners, and Insurance taskforces committed to working with FAST-Infra, Macquarie and partners to help further develop the label and amplify its importance.2


The FAST-Infra Sustainable Infrastructure (FISI) Label is now running an open call for the first set of projects to participate in its rollout. Global Infrastructure Basel Foundation has been appointed secretariat of the initiative, alongside Bloomberg as its data repository, and the label is expected to be fully operational in 2024.

With a governance structure inspired by the Green Bond Principles,3 it introduces credibility, impartiality and technical rigour in the labelling of sustainable infrastructure. And, with strong support from key industry players and financiers, it looks set for broad adoption.

By using the FISI label, market participants can demonstrate the positive impact of a project, enabling capital allocations to be guided towards sustainable infrastructure and ultimately helping to bridge the $US18 trillion investment gap.

$US18 trillion

infrastructure investment gap to 20401


number of taxonomies mapped to create the FISI label


number of organisations participating in stakeholder engagement 

Investors are hungry for exposure to sustainable infrastructure, but they also seek greater confidence in the impact of projects. By providing a simple, practical framework to communicate sustainability credentials, the FISI label should provide clarity to investors and developers, helping guide capital allocations towards the sector.”

Mark Dooley 
Global Head of MAM Green Investments
Macquarie Asset Management

  1. Global Infrastructure Hub, Global Infrastructure Outlook, July 2017,
  2. Sustainable Markets Initiative,
  3. The Green Bond Principles, International Capital Markets Association,

Macquarie Asset Management FY23 Sustainability Report

At Macquarie Asset Management, we view sustainability as part of our fiduciary duty to protect and grow our clients’ assets. This focus also helps us generate positive outcomes for our investee companies and the communities they serve. Our latest Sustainability Report outlines the progress we have made over the past financial year.