ANZ has announced the provision of a green loan to Cbus Property, intended to finance the development of a residential apartment tower and commercial office space at 111 and 121 Castlereagh Street in Sydney. This marks one of ANZ's initial green loans, aligned with the Asia Pacific Loan Markets Association’s Green Loan Principles and Cbus Property’s new Sustainable Finance Framework.
Sustainable finance transactions are recognized as effective means to mobilize investor capital, aiding companies in advancing their sustainability strategies amid the global transition to net-zero carbon emissions.
Katharine Tapley, ANZ’s Head of Sustainable Finance, expressed satisfaction with this partnership: “ANZ is delighted to partner with Cbus Property on one of its first sustainable finance transactions and ANZ’s first green loan with Cbus Property. Cbus Property’s vision to create world-leading sustainable places to work and live aligns with ANZ’s deep commitment to supporting our customers’ success in delivering on their sustainability ambitions.”
Adrian Pozzo, Chief Executive Officer of Cbus Property, emphasized the significance of executing the green loan within their new Sustainable Finance Framework: “Cbus Property will drive the utilisation of this framework in our upcoming developments and explore opportunities to underpin our existing portfolio while delivering on our commitment to achieve our sustainability targets and develop responsible investments for our members.”
The redevelopment project at 111 and 121 Castlereagh Street is noted for its high sustainability credentials. The commercial office at 121 Castlereagh aims for a 6 Star Green Star rating and a 5.5 star NABERS Energy design rating. Meanwhile, the residential development at 111 Castlereagh targets an average NatHERS rating of 7.6 stars across its residences.
ANZ continues its role as a leading bank in sustainability finance within the region. The bank has pledged to fund and facilitate AU$50 billion in sustainability solutions by October 2025, having already achieved nearly AU$22 billion towards this goal.