Westpac is the first bank to be supported by the Clean Energy Finance Corporation’s $1 billion Household Energy Upgrades Fund (HEUF), a landmark program to help Australians access cheaper home energy solutions and affordable finance. That’s why we’re launching Sustainable Upgrades home and investor loans. Customers with an existing or approved eligible home loan will be able to apply to borrow up to $50,000 with a loan term of up to ten years to improve their property’s energy efficiency or climate resilience. Apply from 26 August 2024. T&Cs and eligibility criteria apply. For more info visit https://lnkd.in/gGkzQkxp
Westpac’s Post
More Relevant Posts
-
💰⚡ Keen to make your home more energy-efficient but don’t have the cash to invest upfront? Westpac just launched their Sustainable Upgrades Loan, offering low-interest financing for a wide range of energy-efficient home upgrades: solar panels, heat pumps, insulation, double-glazing, and more 🏡 With Commonwealth Bank already offering a similar “Green Loan”, it is great to now see two of Australia's leading banks supporting their customers with their home’s energy transition 🌿 Not sure where to start or how to make the most of this opportunity? That's where we come in! We help you identify the best upgrades for your home to maximise your return on investment. In some cases, the power bill savings could even fully cover the loan repayments, allowing you to upgrade your home with zero out-of-pocket expenses 💡 If you know a Westpac or CommBank customer, share this post and help them save on bills while reducing their carbon footprint! #Westpac #CommBank #EnergyEfficiency #GreenFinance #HomeUpgrades #AlpacaSolutions #GreenLoan
To view or add a comment, sign in
-
We recently talked to a client who requested to work with lenders that don’t support fossil fuels—a request we’re seeing more and more. It’s great to see so many people taking a stand for sustainability. In fact, Commonwealth Bank recently made headlines by stepping away from funding fossil fuel companies without emissions plans. As strong advocates for a sustainable future, we’re always thrilled to assist clients in finding lenders that reflect their values. Simon O'Kelly (Credit Representative Number: 439252) and Ainslie Conheady (Credit Representative Number: 537417) are credit representatives of BLSSA Pty Ltd ACN 117 651 760 (Australian Credit Licence 391237). #financeforliving #mortgagebrokermelbourne #refinance #homeloanhelp #financeeducation #debtconsolidation #savemoney #homeloanhealthcheck #homeloaneducation #investmentfinance #investmentpurchase #accessequity #buyingahome #propertypurchase #howtobuyahome #howtobuyaninvestmentproperty #firsthomebuyers #firsthomebuyerhelp #buildingwealth #SustainableLending
To view or add a comment, sign in
-
Breaking: Big fossil bank RBC buckles to pressure from Office of the New York City Comptroller and agrees to disclose clean to dirty financing ratio in a first for Canadian banks. This comes after RBC issued their proxy book and voting had opened on a novel shareholder resolution filed by the Comptroller on behalf of several New York City pension funds asking for a energy ratio report. This is a first step. Now RBC Capital Markets need to fix that ratio. They are vastly under financing the energy transition and vastly over financing fossil fuels. For every dollar in coal, oil and gas, only 38 cents goes into low carbon energy. The ratio needs to be 4:1. Worth the read in this piece by Ian Bickis at The Canadian Press especially some of the excuses the bank is making which I respond to. Next week's AGM should be fun. #esg #banking #climatefinance #oilandgas BloombergNEF Stand.earth https://lnkd.in/gQ4tU6Pf
To view or add a comment, sign in
-
Australia’s largest business lender has said that banks will inevitably charge higher interest rates for businesses that do not provide credible sustainability plans which incorporate genuine attempts to reduce carbon footprints. Andrew Irvine from NAB (Group Executive, Business & Private Bank at National Australia Bank) has made it clear that in the near future businesses will be expected to reduce their carbon emissions in order to obtain loans. In December 2023, Mr Irvine conveyed that small and medium-sized businesses will need to measure their carbon footprint and reduce their carbon emissions if they wish to keep obtaining cheaper loans. Mr Irvine stated that: “Today I ask for your income and expense, tomorrow I will be asking for your income, expenses and carbon footprint – it’s a virtual certainty that will happen. If your abatement is less than average, your interest rate will be higher than if your abatement is higher than average. Our risk as a bank will be impacted by how green your business is. It’s not to say we won’t bank you, but the cost of borrowing will be affected.” The comments align with perspectives shared by Anthony Miller at Westpac who predicted that by 2027 companies would be unable to secure a loan without a viable plan to calculate and cut emissions. Similarly, Lara Yocarini (global head of rural and food) from Rabobank stated that banks would in the future impose higher interest rates on farmers and rural companies that did not achieve acceptable greenhouse gas reductions. Jonathan Moylan, who is an Australian Conservation Foundation corporate campaigner has stated that: “It was always inevitable that financial institutions would start to impose carbon pricing given the enormous risks that climate change poses to our economy…But we’d like the banks to do far more by reining in companies that are still building big new oil and gas projects.” ✅There continues to be an increase in urgency to ensure that lending institutions become more involved in reducing climate emissions as pressure mounts to ensure decarbonisation. 🌾 ✅ 🌏 Sources: The Sydney Morning Herald: https://lnkd.in/e69dKswA #CarbonLCACertified #environmentalproductdeclaration #carbonfootprint #sustainability #EPD #LCA #LifecycleAssessment #LifeCycleAnalysis #GoldCoast #carbonfootprint #carbonemissions #netzero #DrLesStrezov #BankingandCarbonFootprint #NAB #AndrewIrvine #LaraYocarini #JonathanMoylan
To view or add a comment, sign in
-
Sustainability & ESG Strategy| Decarbonisation | SDG’s| Circular Economy I Climate Report I Sustainability Education for Business
🏦Big Move in Banking and Climate Action! Commonwealth Bank of Australia (CBA) is stepping up by stopping loans to fossil fuel companies that don’t have real plans to cut their emissions. This aligns with the Paris Agreement and sets a moment in the shift towards sustainable finance. As Australia's biggest mortgage lender, CBA's decision is a huge win for climate supporters and might push other major banks to do the same. 🌱💰 What’s next for the other big banks? Read the full article: https://lnkd.in/gqMqy8sM 💡Curious about how major corporations are driving sustainability in supply chains? 📦Check out our latest article on Amazon's recent demands on suppliers and what it means for the future of sustainable business practice https://lnkd.in/gBTF5CYU #esg #sustainability #supplychain #banks #sustainablefinance #climaterisk #climatereport
'The writing's on the wall': Australia's largest mortgage lender sets the tone after ditching climate culprits
abc.net.au
To view or add a comment, sign in
-
We’re here to serve customers well and help our communities prosper. We know that managing the environment🌳well is good for business🕴️. Our economy and societal wellbeing depends on a healthy planet🌏 #greensustainability #environmentalresponsibility #transitiontonetzero #supportinglocalbusinesses #nabbusinessbanking
NAB has a critical role to play in funding and supporting Australia’s transition to net zero. We’re firmly committed to working with our customers as they decarbonise, build climate resilience, and adapt to pursue new climate opportunities. In line with this commitment, NAB has launched Green Finance for Commercial Real Estate (CRE) to help support investment in - or the development or retrofit of - eligible, commercial buildings. This new, green finance proposition will assist commercial real estate customers fund projects intended to reduce greenhouse gas emissions. NAB Green Finance for CRE forms part of the NAB Green Business Lending Framework and uses independent NABERS and Green Star ratings to assess the environmental performance of buildings. Read more on NAB News: https://lnkd.in/gw87fqbK
NAB Green Finance for Commercial Real Estate
nab.com.au
To view or add a comment, sign in
-
Business and Community Connector creating impact / VP Business Development, Sunrise Banks / Small Business support / Locally focused financing solutions
Let me know if you have questions on Net Zero deposit fund or a project you would like to discuss!
Did you know your checking, savings or CD account at Sunrise Banks can now help mitigate the impacts of climate change? With Net Zero Deposits, you can designate the money in your accounts to go to projects that reduce or avoid carbon emissions. These can include energy efficiency upgrades, renewable or clean energy installations, green building construction that meets national or international standards, or electric/hybrid vehicles. Both personal and business banking accounts are eligible for our Net Zero Deposits program. Talk to one of our Sunrise Banks team members today or visit our website to learn more: https://bit.ly/3XW9sJi Member FDIC. Sunrise Banks is an Equal Housing Lender.
To view or add a comment, sign in
-
Deutsche Bank, EIB Launch Discounted Mortgage Program to Finance Climate-Friendly Homes Deutsche Bank and the European Investment Bank (EIB) Group announced a new agreement to provide discounted mortgages aimed at promoting the construction of new climate-friendly homes and energy-efficiency modernizations of existing housing in Germany. Under the new program, the EIB Group will guarantee a €150 million mezzanine tranche in a consumer loan securitization with Deutsche Bank, freeing up regulatory capital for Deutsche Bank, with the advantage passed onto the bank’s clients in the form of discounted mortgages. Read more: https://lnkd.in/gaCtxW-B A Sustainable World is possible! 💚 Powered by Intengine #Sustainability #ASustainableWorld #Climatefriendly #Sustainablefinance #Energyefficiency
To view or add a comment, sign in
-
Leading Australian banks, including AMP Bank, Bank of Queensland, and Macquarie Bank, have reduced their fixed home loan interest rates by up to 0.76 %, anticipating a RBA rate cut later this year. Macquarie Bank made significant cuts across all fixed rates, with a notable reduction to 5.99% for its 3-year fixed rate, as banks signal belief that the rate-hiking cycle may have peaked. Despite these rate reductions, experts caution borrowers about the potential risks of fixing rates now, with the possibility that variable rates could fall further following expected Reserve Bank rate cuts. Follow Outback Briefs to stay up to date with Australian Business News! #australia #australianews #businessnews #australianeconomynews #australianpropertymarket
To view or add a comment, sign in
-
This item is important for what it doesn't say. https://lnkd.in/gjrtkKbq Briefly, for those with no access to the paywall, CBA sees financing energy efficiency upgrades as good business and good for its customers because the payback periods on solar, batteries, EV chargers etc is so compelling even after the financing costs. Its starting to target this opportunity in a big way, with offers like 3.9% concessional loans up to $30k to its existing mortgage holders. But how many of its 1.9 million residential mortgages are for strata properties? Not much use to these customers. Yet, as anyone who tuned in to the two-part Strata Plus webinar this month will attest, the business case is just as compelling in strata properties. https://lnkd.in/gyx7xQNZ https://lnkd.in/gmZRQcrh Strata type properties will dominate new household formation for the foreseeable future. What will it take for more of our major institutions to stop treating strata as a niche, specialised market and get serious about delivering these kinds of innovative solutions to the sector? Paul Morton Tim MacKenzie
CBA wants to corner the $2trn market for household electrification
afr.com
To view or add a comment, sign in
297,349 followers
So excited to see this launch, at long last! Congratulations Rose, Trang, Daryna and the many, many others involved in bringing this to life. 🌿