Sustainable Finance

Cbus Property Receives Green Development Loan from ANZ

Published on: 23 May 2022 07:46 PM
by KnowESG

ANZ, a banking and financial services firm, said it issued one of its first green loans to Cbus Property, a property investor, to help fund the development of a world-class residential apartment tower and premium commercial office space at 111 and 121 Castlereagh Street in Sydney.

The loan adheres to the Green Loan Principles of the Asia Pacific Loan Markets Association and Cbus Property's new Sustainable Finance Framework.

As the world economy moves to net-zero carbon, sustainable finance transactions are an effective approach to mobilising investor funding to accelerate a company's sustainability plan.

ANZ’s Head of Sustainable Finance, Katharine Tapley, said:

“ANZ is delighted to partner with Cbus Property on one of its first sustainable finance transactions and ANZ’s first green loan with Cbus Property.

“Cbus Property’s vision to create world-leading sustainable places to work and live aligns with ANZ’s deep commitment to supporting our customers’ success in delivering on their sustainability ambitions.”

The reconstruction of 111 and 121 Castlereagh Street is being funded by ANZ. 121 Castlereagh (commercial office) is aiming for a 6 Star Green Star and 5.5 Star NABERS Energy design rating, whereas 111 Castlereagh (residential) is aiming for a 7.6 Star average NatHERS rating throughout its residences.

In the region, ANZ is a top sustainability finance bank. By October 2025, the bank will have committed to supporting and facilitating at least AU $50 billion in sustainability solutions for customers, with about AU $22 billion already delivered.

Cbus Property’s Chief Executive Officer, Adrian Pozzo, said:

"Successfully executing the green loan under the business’ new Sustainable Finance Framework reinforced its industry-leading sustainability programme."

“Cbus Property will drive the utilisation of this framework in our upcoming developments and explore opportunities to underpin our existing portfolio while delivering on our commitment to achieve our sustainability targets and develop responsible investments for our members."

Source: ANZ