ANZ, CEFC launch $150 million program to help businesses cut energy costs through innovation

14 December, 2017

ANZ media release 

ANZ today announced it had joined with the Clean Energy Finance Corporation to establish a $150 million program to help Australian businesses cut energy costs and reduce carbon emissions through innovation.

The new ANZ Energy Efficient Asset Finance program makes it easier for businesses to invest in energy-efficient and renewable technologies that will help reduce their energy use, carbon foot print and fuel costs.

Through the program, ANZ can offer a 0.70%p.a. discount to business customers on the standard asset finance rate for new assets up to $5 million that meet CEFC energy efficiency requirements.

Commenting on the initiative, ANZ Managing Director Business & Private Banking Mark Hand said: "Through this program we will help support Australian businesses invest in energy-efficient innovation that will minimise environmental impacts while also saving them money.

"Our ability to offer a financial discount for new investment and upgrades that will help our customers transition to a low-carbon economy supports ANZ's goal of helping communities thrive and contributes directly to ANZ's $15 billion sustainability target," Mr Hand said.

CEFC CEO Ian Learmonth said: "It's great to be working with ANZ to help us broaden our reach across the Australian economy and make it easier for ANZ's business customers to tap into the benefits of energy efficiency and renewable energy technologies."

"We're looking forward to seeing the ANZ Energy Efficient Asset Finance program deliver lower emissions and lower energy use outcomes for customers who are seeking to improve the efficiency of their business operations.

"Energy use contributes about 78 per cent of Australia's greenhouse gas emissions so it is an area where action is vital. The good news is that businesses can see an immediate reduction in their emissions - as well as their energy costs - by investing in energy efficiency, which is one of the most direct and cost-effective ways for businesses to improve their energy profile."

For more information visit ANZ