ANZ extends funding program with the CEFC

  • By Zilla Efrat

ANZ has extended its $200 million funding program with the Clean Energy Finance Corporation (CEFC) as part of its goal to be the leading Australia and New Zealand-based bank when it comes to supporting customers’ transition to net zero emissions by 2050.

The move means that ANZ’s small to medium-sized business customers will continue to have access to a 0.50 basis point discount on their asset finance rate for eligible energy-efficient related assets and projects.

These can range from renewable energy to energy-efficient and precision agricultural equipment, recycling technologies and electric vehicles. 

ANZ and CEFC will each contribute 0.25 per cent towards the discount for loans up to $ 5 million.

ANZ and the CEFC have been working together to help Australian businesses invest in emission-reducing infrastructure that will be resilient to a changing climate for the past five years.

“The program will help our customers invest in crucial assets to help them grow their business, in a sustainable way,” says ANZ managing director of commercial and private banking, Isaac Rankin.

“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.”

CEFC CEO Ian Learmonth adds: “SMEs 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.”

The CEFC’s well-established co-financing programs resulted in financial institutions providing more than 5,500 asset loans to business borrowers Australia-wide.

“Best-in-class clean technology is good for business and the environment,” says Learmonth. “Businesses that install renewable energy and adopt the latest energy efficiency innovations can improve their bottom line and reduce their emissions.