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Our approach

Investing in the environment

We are committed to developing business solutions and high-quality, trusted advice to assist our customers in reducing their impact on the environment. Our approach is informed by research and by our deep understanding of the energy sector, helping us to work with our customers to anticipate and respond to industry trends.

We have set a target to implement financial products and services to assist customers in transitioning toward a lower carbon economy, and to increase the proportion of project finance lending to the renewables and gas sectors.

2011 results

Investing in a renewable energy future

In the Pacific

We continue to partner with the World Bank to bring cleaner, cheaper and more sustainable sources of energy to communities most exposed to the direct impacts of climate change.

We are administering $5.2m of funding to help local financial institutions provide affordable loans to individuals/small businesses in Pacific Island communities for the purchase of renewable energy such as solar energy, hydro energy and biofuels (coconut oils).  We also participate in the program as a lender.

The program aims to redress the limited access to electricity in Pacific island countries, one of the key barriers to economic growth in the region, and to reduce the region's current reliance on high cost diesel as a source of energy.

In Australia

We understand that in order to meet Australia’s 2020 target of having 20% of electricity generated from renewable sources, approximately $20 billion in renewable energy investment will be required over the next 10 years.

Currently we are Australia’s leading renewable energy financier - now representing approximately a third of our total project finance energy portfolio. Our involvement has grown rapidly over time, in line with increasing demand.

Our current wind portfolio extends to some 1,451MW spread across 13 projects globally.

We also continue to provide and participate in eco-efficiency initiatives for our retail customers.

The future

For 2011, we have set public goals to:

• Increase our renewables and gas project finance portfolio – as a proportion of our total project finance energy portfolio - by 15-20% by 2020
• Work closely with our Australian energy customers to respond to and manage risks and opportunities arising from the introduction of the Federal Government’s Clean Energy Future package.

We will publicly report our progress against the targets.

2010 results

Investing in a renewable energy future

In the Pacific

We are continuing to work with the World Bank to finance renewable energy products in high climate change-risk countries in the Pacific.

We are administering $5.2m of funding to help local financial institutions provide affordable loans to individuals/small businesses in Pacific Island communities for the purchase of renewable energy such as solar energy, hydro energy and biofuels (coconut oils).  We also participate in the program as a lender.

In New Zealand

We have established partnerships with four energy companies in New Zealand to help bring affordable energy efficiency measures to households as part of the New Zealand Government’s EnergyWise Home Program.

In Australia

We understand that in order to meet Australia’s 2020 target of having 20% of electricity generated from renewable sources, approximately $20 billion in renewable energy investment will be required over the next 10 years.

Currently we are Australia’s leading renewable energy financier - now representing more than 30% of our total energy sector lending portfolio. Our involvement has grown steadily over time, in line with increasing demand.

Our current wind portfolio extends to some 1,145MW - enough renewable power to supply around 630,000 homes, spread across 14 projects, of which over 80%, are in Australia.

We also continue to provide and participate in eco-efficiency initiatives for our retail customers.

The future

For 2011, we have set a public goal to implement products and services to assist clients and customers with the transition towards a lower carbon economy and will continue to increase the proportion of lending to the renewable energy sector.

2009 results

We have launched Green Loans for Australian households to invest in solar, water saving, and energy-efficient products. The loans aim to tackle the up-front cost that can sometimes deter people from improving the sustainability features of their home.

The Green Loan is for amounts from $3,000 to $10,000 over four years. Loan features include: no loan approval fee or loan administration charge; no early-break cost; and no interest (customers repay principle only).

Available to households that have undertaken a free home sustainability assessment provided through the Australian Government's Green Loans Program, the scheme will help about 360,000 Australian households save energy and water and reduce greenhouse gas emissions.

Investing in solutions for our customers

This year we established a new Carbon and Water Solutions function in our Institutional business dedicated to better understanding the business opportunities the transition to a lower carbon economy presents for ANZ - including helping customers control their exposure to carbon limits through offsets and trading. While there is currently limited demand for these services, we expect this to increase dramatically as the 'price' of carbon becomes clearer.

The future

One of our 2010 CR targets is to continue to develop services to assist clients and customers with the transition to a lower carbon economy, including through proactive offering of capital or carbon risk solutions. Demand for these services obviously depends on the further development of domestic and international frameworks aimed to controlling carbon emissions.

2008 results

Loans for energy efficient households

ANZ in New Zealand is partnering with EnergySmart Limited to provide interest free or interest subsidised loans to customers to install energy efficiency features such as ceiling and floor insulation, clean household heating, draught proofing and energy efficient light bulbs.

The offer is part of the New Zealand Government's EnergyWise Homes initiative to encourage consumers to install energy efficiency measures and is available to homeowners earning less than $100,000 and who own a home built before 1978.

"This partnership is a great way to help our customers reduce their energy costs and at the same time make their home warmer, drier and healthier" said Mark Wilkshire, General Manager, Consumer Finance.

Energy Smart is New Zealand's leading provider of energy efficiency solutions for homes.

Encouraging renewable energy in the Pacific

ANZ is also partnering with the World Bank to bring cleaner, cheaper and more sustainable sources of energy to communities most exposed to the direct impacts of climate change.

We will administer $5.2 million of funding over the next five years to help approved local financial institutions provide affordable loans to individuals and small businesses in Pacific Island communities for the purchase of renewable energy such as solar energy, hydro energy and biofuels (coconut oils). ANZ will also participate in the program as a lender.

The program aims to redress the limited access to electricity in Pacific island countries, one of the key barriers to economic growth in the region, and to reduce the region's current reliance on high cost diesel as a source of energy.

The future

Our goal is to provide practical support and advice to our customers to help them achieve in a lower carbon economy.

For business customers, we are setting standards of social and environmental management through our sector policies and implementation of the Equator Principles and through this process continue to develop an understanding of their (and consequently our) exposure.

We also acknowledge that business customers are only part of the picture. There is more we can do for retail and small business customers who, as 'end users' of energy, will face increased costs from mandatory carbon constraints.

We have contributed to work led by the Brotherhood of St Laurence on options to reduce the impact of an emissions trading scheme on low income earners. The Brotherhood recommends measures such as cash assistance and home visits to help low incomes earners identify the most effective energy efficiency measures for their home. Read the report (PDF 1.69MB).