Small and medium businesses will have access to discount for eligible energy efficient related assets and projects. Source: Shutterstock.
ANZ has announced that small to medium businesses will continue to have access to a 0.50 basis point discount on their asset finance rate as long as it’s related to energy efficient projects.
It comes after ANZ said that they will extend funding with the Clean Energy Finance Corporation (CEFC) to help businesses implement infrastructure that is considered eco-friendly.
The project has been carried out over the past five years with ANZ Managing Director of Commercial and Private Banking Isaac Rankin saying that for the first time, businesses will also have access to the recycling sector.
“At ANZ we are supporting our customers to invest in their businesses and help them to transition towards a low-carbon economy,” he said.
“The program will help our customers invest in crucial assets to help them grow their business, in a sustainable way.”
ANZ has plans to transition to net zero emission by 2050 with this program a crucial part of that journey, however Mr Rankin said that it’s the customers who are really spearheading the change.
“We are seeing many of our customers are changing the way their businesses operate, moving towards a more sustainable future.
“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.”
CEFC in partnership with ANZ said that they will each contribute 0.25 per cent toward a 0.5 per cent discount for small to medium sized businesses for loans up to $5 million.
“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,” said CEFC CEO Ian Learmonth.
