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ANZ will now offer a 0.8 per cent discount on clean energy finance loans for small to medium business (SME) customers. This is eligible on loans up to $5 million.
“Transitioning to clean energy has become increasingly important for many small-to-medium businesses as they look to reduce rising energy bills and their carbon emissions,” commented ANZ general manager lend and grow commercial, Daniel Everett.
“We recognise cost can be a barrier for businesses wanting to make clean energy investments, so offering an increased discount on finance is an important way to support customers to take the next step in their transition towards a net zero future.”
This latest announcement is part of an ongoing partnership with the Clean Energy Finance Corporation (CEFC). In their seventh year working together, ANZ and CEFC have financed over $300 million in investments.
“Through our ongoing work with the CEFC, we have provided small-to-medium businesses spanning over 20 different industries with a discount on their clean energy loans, whether it be for electric vehicles, rooftop solar panels, efficient irrigation, or batteries,” said Everett.
“We are proud to support our customers as they strive to reduce their energy consumption and boost their resilience in the face of the changing Australian climate.”
The previous discount was 0.5 per cent. Now at 0.8 per cent. The initiative hopes to continue to support businesses looking to invest in emission reducing infrastructure.
Some of the assets available through the loan include electric vehicles and other energy efficient heavy vehicles, solar panels, and recycling technologies.
CEFC’s head of debt markets, Richard Lovell said: “Australia’s small-to-medium enterprises (SME) drive the nation’s economy and ANZ is helping its SME customers transition towards a low carbon economy by tapping into the benefits of energy efficiency and renewable energy technologies. Encouraging SMEs to invest in these critical assets and activities can reduce emissions while making businesses more efficient and resilient.”
Just last month the United Nations (UN) called upon global banks to address bank lending for renewable energy.
Running from 11–22 November, COP29 took place in Baku, Azerbaijan, where world leaders discussed affordable clean energy, among other things.
“Ensuring universal access to affordable electricity by 2030 means investing in clean energy sources such as solar, wind and thermal. Expanding infrastructure and upgrading technology to provide clean energy in all developing countries is a crucial goal that can both encourage growth and help the environment,” said the UN.
ANZ seem to have taken note with this latest investment in providing clean energy loans.
Related: Calls for United Nations to address bank lending for renewable energy
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