ANZ today announced it has provided Cbus Property with one of its first green loans to finance the development of a world-class residential apartment tower and premium commercial office space at 111 and 121 Castlereagh Street in Sydney.
The loan is aligned to the Asia Pacific Loan Markets Association's Green Loan Principles and in accordance with Cbus Property's new Sustainable Finance Framework.
Sustainable finance transactions are an effective way to mobilise investor capital to accelerate a company's strong sustainability strategy as the world economy transitions to net-zero carbon.
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."
Cbus Property's Chief Executive Officer, Adrian Pozzo, said that successfully executing the green loan in accordance with the business' new Sustainable Finance Framework reinforced its industry-leading sustainability program.
"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," Mr Pozzo said.
ANZ is funding the redevelopment of 111 and 121 Castlereagh Street. The mixed-use development has high sustainability credentials: 121 Castlereagh (commercial office) is targeting 6 Star Green Star and 5.5 star NABERS Energy design ratings, while 111 Castlereagh (residential) is targeting a 7.6 Star average NatHERS rating across its residences.
ANZ is a leading sustainability finance bank in the region. The bank has committed to fund and facilitate at least AU$50 billion in sustainability solutions for customers by October 2025, of which almost AU$22 billion has been achieved to date.
