ANZ boosts clean energy finance program to $250 million

ANZ media release

19 August, 2019

ANZ today announced it had extended its collaboration with the Clean Energy Finance Corporation (CEFC), committing to facilitating a further $100 million of finance to help Australian businesses cut energy costs and reduce carbon emissions through innovation.

The additional finance will take ANZ’s total commitment to $250 million, with a focus on enabling businesses to purchase small-scale solutions to reduce their energy use, carbon footprint and fuel consumption.

More than 500 ANZ business and commercial customers have used ANZ Energy Efficient Asset Finance since it was launched in December 2017. Investments include small-scale rooftop solar and battery storage, improved insulation and low-emission or electric vehicles.

ANZ Managing Director Commercial Banking Isaac Rankin said: “Energy costs remain some of the highest outgoings for business owners, therefore this program presents a win-win; simultaneously saving our customers money while lowering their emissions.

“Our investment in this program directly relates to our commitment to fund and facilitate at least $15 billion in low-carbon and sustainable solutions by 2020,” Mr Rankin said.

Clean Energy Finance Corporation CEO, Ian Learmonth, said: “We welcome the renewed commitment from ANZ as we continue to work together to break new ground by introducing clean energy technologies to new sectors, businesses and projects.

“Investments like these are helping us reduce Australia’s carbon emissions by supporting business borrowers looking to use energy efficiency and renewable energy to make real and positive changes to their operations,” he said.

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