Commonwealth Bank recently acted as a joint sustainability coordinator, bookrunner and lender on two green loans for Walker Corporation's commercial buildings in Sydney's Parramatta Square and Melbourne's Collins Square.
Both developments lead Australia in energy efficiency and environmental standards, earning six stars from independent certification bodies and helping Walker Corporation meet the criteria for Green-labelled finance.
"Walker Corporation is to be commended for its commitment to developing best-in-class sustainable, energy-efficient urban infrastructure that will be used and enjoyed by current and future generations of Australians," said Andrew Hinchliff, Group Executive of Institutional Banking and Markets at Commonwealth Bank.
"We see sustainable finance as a key tool in helping Australian businesses build our future economy, and we're extremely proud to support Walker with this Green loan that will help them further demonstrate their strong ESG commitments," Mr Hinchliff said.
Walker Corporation Executive Chairman Lang Walker said sustainability is at the core of the company's ethos.
"We are proud to have our flagship commercial buildings in Parramatta and Melbourne leading the way in environmental standards which gives us access to the green finance market," Mr Walker said.
"Green loans are a mutual win-win for companies and communities as we all work together to make our planet more sustainable.
"Climate focused investment is on the rise with big demand to participate in loans which have helped finance green buildings and assets like Walker's, which feature clean and renewable energy, carbon emission reduction, as well as recycling and initiatives to reduce energy usage."
Tenants in Parramatta Square and Collins Square were actively seeking environmentally friendly, sustainable buildings for their staff and Walker has been able to deliver these green targets to a long list of Federal and State Government tenants, as well as ASX listed financial firms, insurers and professional services companies.
Commercial office developments such as Parramatta Square are integral to supporting Australia's transition to new modes of working, particularly in the wake of the coronavirus pandemic, said Michael Thorpe, Managing Director, Future Cities and Networks, at CBA.
"Walker's Parramatta Square development is a fantastic example of the office of the future," Mr Thorpe said.
"As Australian institutions embrace hybrid working, corporations are keen to offer employees green, energy-efficient, modern workplaces that are close to home. Parramatta Square delivers on every front," Mr Thorpe said.
