ANZ has announced an extension of its collaboration with the Clean Energy Finance Corporation (CEFC), offering business customers a 0.80 percent discount on clean energy finance loans. This initiative marks the seventh year of their partnership, with over $300 million already invested.
Small-to-medium-sized businesses will benefit from an increased discount on asset finance rates for eligible assets, rising from 0.50 percent to 0.80 percent. This measure aims to assist these businesses in transitioning to net zero emissions.
The collaboration between ANZ and CEFC over the past six years has supported Australian businesses in investing in emission-reducing infrastructure that is resilient to climate change. The discount applies to eligible energy-efficient assets and projects, including electric vehicles, heavy vehicles, solar panels, and recycling technologies.
ANZ's General Manager Lend and Grow Commercial, Daniel Everett, emphasized the importance of clean energy transition for small-to-medium businesses: "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."
Everett noted that cost can be a barrier for businesses wishing to invest in clean energy: "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."
Richard Lovell, CEFC Head of Debt Markets, highlighted the role of SMEs in driving Australia's economy: "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."
Under this program, eligible small-to-medium-sized business customers will receive a 0.80 percent discount for loans up to $5 million.