Waverley Council has partnered with Better Building Finance (BBF) to help local businesses upgrade the sustainability of their buildings, through Building Upgrade Finance.
BBF is a government-enabled program for upgrading existing (non-residential) buildings to improve their overall sustainability and address climate change issues. It is a loan for upgrades repaid quarterly alongside Council rates.
Mayor of Waverley, Paula Masselos, said Waverley was one of the first Councils in Australia to formally set Council and Community sustainability and climate action goals.
"As the world looks hopefully towards the UN Climate negotiations next month, Council is ensuring our community has access to programs that can help to implement effective climate and sustainability actions" Mayor Masselos said.
"Waverley's support for Building Upgrade Finance will help local businesses save money and improve their economic and environmental performance, and help meet our community environmental targets.
"Enabling sustainable financing options for our businesses is another example of how Local Government, working together with other levels of government, businesses and communities, can support the delivery of the Paris Agreement."
With BBF, a lender provides the upfront capital for the works, which the business then repays alongside their quarterly Council rates over periods of up to 20 years.
Council's involvement means Waverley businesses and property owners can take out a long-term loan for works, such as installing solar panels, electric vehicle charging stations, or upgrading heating, ventilation and air-conditioning (HVAC) systems on aged care homes, and pay it back through Council rates.
To date, BBF has worked with local councils to facilitate more than 100 environmental upgrade projects at an investment of more than $40 million. This finance is responsible for generating almost 10,000kW of solar power, which will reduce carbon emissions by around 500k tonnes over the life of the projects.
Ed Cotter, Executive Manager of BBF, welcomed Waverley Council to the program.
"We're really excited to welcome Waverley to our program to make buildings better in NSW. With the success we've had over the past few years, we know that this program can have a huge impact in supporting local businesses and helping councils deliver on their economic development and sustainability goals," he said.
Interested businesses can click here to apply now.
