I’m proud to announce our Clean Energy Home Loan, supported by an investment of up to $60m from the Clean Energy Finance Corporation.
The CEFC, on behalf of the Australian Government, is working to invest in Australia’s transition to lower emissions.
This is the first green home loan investment for the CEFC. We’re pleased to work with them to offer interest rate discounts to Bank Australia customers who buy or build a 7+ star NatHERS rated home.
Our research tells us that our customers care deeply about sustainability and climate change, which was a big driver for us to launch a home loan that supports them to reduce the environmental impact of their homes.
The Clean Energy Home Loan is a great example of how the business of banking is an essential part of the solution to the climate crisis. I’m proud that Bank Australia is leading the charge on green home loans.
In the coming months, we’re also looking to extend the Clean Energy Home Loan benefits to customers who make eligible green renovations.
The property market accounts for about 23% of Australia’s greenhouse gas emissions, with about half from residential buildings1. Heating, ventilation and air conditioning, lighting and hot water systems are the bulk of home emissions.
I want a future where every buyer asks for the energy efficiency certificate when they inspect a property, for real estate websites to have a ‘7+ stars’ filter (that brings up pages and pages of homes) and real estate agents to promote energy efficiency ratings as a key selling point.
Homes are built for the long haul. It’s predicted that more than half the properties that’ll be standing in 2050 will be built from now onwards. This means that the housing decisions we make today will impact emissions – we just have to decide if we want that to be a positive or negative impact. We want to help home owners and buyers who make sustainable choices to create positive impact.
Our Clean Energy Home Loan is another example of clean money in action and reinforces our longstanding commitment to the planet. For example, and as you may know, we’re the first bank in the world to own a Conservation Reserve, we run on 100% renewable electricity and we’ve been carbon neutral since 2011. I’m looking forward to more sustainability and creativity in banking.
Read more about our Clean Energy Home Loan.
Managing Director, Bank Australia
1 Low Carbon High Performance, May 2016, asbec
Photography by Ange Wall