ANZ supports businesses in clean energy transition
ANZ today announced it has extended its $200 million funding program with the Clean Energy Finance Corporation (CEFC) to help ANZ business customers transition to net zero emissions.
Small to medium sized business customers will continue to have access to a 0.50 basis point discount on their on their asset finance rate for eligible energy efficient related assets and projects.
For the past five years ANZ has been working with the CEFC in helping to support Australian businesses invest in emission reducing infrastructure that will be resilient to a changing climate. This year opportunities in the recycling sector are also available– the first time ANZ and the CEFC have included this element in a co-financing program.
ANZ Managing Director of Commercial and Private Banking, Isaac Rankin said: “At ANZ we are supporting our customers to invest in their businesses and help them to transition towards a low-carbon economy.”
“The program will help our customers invest in crucial assets to help them grow their business, in a sustainable way.”
“We are seeing many of our customers are changing the way their businesses operate, moving towards a more sustainable future. Whether it be an electric truck or solar panels, we want to give Australian businesses access to finance, services and advice to invest in equipment which will help them shift to low carbon business models and operations that put them on a path to net zero emissions.”
The extension of this program demonstrates ANZ’s goal to be the leading Australia and New Zealand-based bank in supporting customers’ transition to net zero emissions by 2050.
CEFC CEO Ian Learmonth said: “Small to medium businesses are a critical part of Australia’s economy. As the cost of energy and other inputs continues to rise, it is important to help them access the benefits that renewable energy, battery storage and energy efficient equipment can deliver.
“In the five years we have worked with the ANZ we have seen strong interest from Small and Medium Enterprises in using clean energy technologies to reduce their carbon footprint and improve their energy efficiency,” Mr Learmonth said.
The program aligns with ANZ’s commitment to help support customers to transition to net zero emissions by 2050.
Under this program, ANZ and CEFC will each contribute 0.25 per cent toward a 0.5 per cent discount to eligible small to medium sized business customers, for loans up to $5million.