ANZ has announced it will be offering business customers a 0.80 per cent discount on clean energy finance loans, extending its history of financing more than $300m of investments with the Clean Energy Finance Corporation (CEFC) for a seventh year.
Small-to-medium sized business customers will now be offered a 0.80 per cent discount off their asset finance rate for eligible assets, increasing from the previous discount of 0.50 per cent, to support their transition to net zero emissions.
ANZ has worked with the CEFC for the past six years to support Australian businesses invest in emission reducing infrastructure that will be resilient to a changing climate. Customers will be able to access the discount for eligible energy efficient related assets and projects, such as electric vehicles and other energy efficient heavy vehicles, solar panels, and recycling technologies.
The extension and upgrade of this finance program demonstrates ANZ's ambition to be the leading Australia and New Zealand-based bank in supporting customers' transition to net zero emissions by 2050.
ANZ General Manager Lend and Grow Commercial, Daniel Everett, said: "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. 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 to take the next step in their transition towards a net zero future.
"Through our ongoing work with the CEFC, we have provided small-to-medium businesses spanning over 20 different industries with a discount on their clean energy loans, whether it be for electric vehicles, rooftop solar panels, efficient irrigation, or batteries. We are proud to support our customers as they strive to reduce their energy consumption and boost their resilience in the face of the changing Australian climate."
CEFC Head of Debt Markets, Richard Lovell said: "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. Encouraging SMEs to invest in these critical assets and activities can reduce emissions while making businesses more efficient and resilient."
Under this program, eligible small-to-medium sized business customers will receive a 0.80 per cent discount for loans up to $5 million.
