ANZ extends discount financing facility for green investments

ANZ has extended its $200m financing program, which offers discounted loans to small- and medium-sized businesses to help fund clean energy projects. The financing is part of an on-going partnership between the Australia and New Zealand-based bank and Australia’s Clean Energy Finance Corporation (CEFC) through which both organisations are aiming to reduce firms’ capital costs associated with green investments. According to ANZ, small- and medium-sized businesses will have access to a 0.5 basis point discount in the asset finance rate. Extending such incentives to small- and medium-sized enterprises is a crucial part of financing the transition. CEFC CEO Ian Learmonth said: “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. In the five years we have worked with the ANZ we have seen strong interest from small and medium enterprises in using clean energy technologies to reduce their carbon footprint and improve their energy efficiency.”