ANZ has announced the extension of its $200 million funding program in collaboration with the Clean Energy Finance Corporation (CEFC) to assist business customers in transitioning to net zero emissions. This initiative will provide small to medium-sized businesses access to a 0.50 basis point discount on asset finance rates for eligible energy-efficient assets and projects.
For five years, ANZ has partnered with CEFC to support Australian businesses in investing in emission-reducing infrastructure. This year, opportunities have been expanded to include the recycling sector, marking a new addition to their co-financing efforts.
Isaac Rankin, ANZ Managing Director of Commercial and Private Banking, stated: “At ANZ we are supporting our customers to invest in their businesses and help them transition towards a low-carbon economy.” He emphasized that the program is designed to facilitate customer investments in crucial assets that contribute to sustainable growth.
Rankin noted an increasing trend among customers shifting towards sustainable operations: “Whether it be an electric truck or solar panels, we want to give Australian businesses access to finance, services and advice."
The extension aligns with ANZ's objective of leading as a bank based in Australia and New Zealand supporting net zero transitions by 2050. CEFC CEO Ian Learmonth highlighted the importance of small and medium enterprises (SMEs) within Australia's economy: "As the cost of energy continues rising, it's important they access benefits from renewable energy."
Learmonth observed strong SME interest over five years using clean technologies for carbon reduction: “We have seen strong interest from Small and Medium Enterprises in using clean energy technologies.”
Under this extended program, both ANZ and CEFC will each contribute 0.25 per cent toward providing a 0.5 per cent discount for loans up to $5 million aimed at eligible SMEs.