(9 August 2022 – Australia) ANZ has ramped up its partnership with the Clean Energy Finance Corporate (CEFC) with an extra A$200 million invested from both towards small to medium sized enterprises (SMEs) net-zero transition.
In 2017, ANZ first allocated A$150 million to supply cheaper asset loans for energy-efficient enterprises. In 2019, the Big Four major confirmed it would provide an extra A$100 million into the green-focused incentive.
The latest mandate allows for enterprises to access a 50 basis point lower cost fee on asset finance loans of as much as A$5 million for eligible environmentally friendly equipment and machinery. Both ANZ and the CEFC will absorb the 50 basis point discount evenly.
“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. We are seeing many of our customers are changing the way their businesses operate, moving towards a more sustainable future” said ANZ Managing Director of Commercial and Private Banking, Isaac Rankin.
“Small to medium businesses 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” commented CEFC CEO Ian Learmonth.
“Within the time that the CEFC has worked with the ANZ we have seen strong interest from SMEs in using clean energy technologies to reduce their carbon footprint and improve their energy efficiency”.