The Clean Energy Finance Corporation (CEFC) has committed $150 million to expand access to discounted finance for small and medium enterprise (SME) customers of ANZ, as rising energy and operating costs continue to drive demand for lower-cost, energy-efficient equipment.
Under the arrangement, the CEFC and ANZ will each contribute 0.4 per cent per annum, delivering a combined discount of 0.8 per cent on finance for assets such as electric vehicles, rooftop solar, batteries, energy-efficient technology and recycling equipment.
The reduced rate is designed to lower total repayment costs and improve cash flow over the life of an asset, helping businesses proceed with investments that might otherwise be delayed.
The Organisation for Economic Co-operation and Development has pointed to the importance of partnerships between public finance institutions and commercial lenders in supporting small businesses to invest in emissions-reducing technologies, particularly in sectors that are harder to decarbonise and where specialised expertise is required.
The new commitment builds on an existing co-financing program between the CEFC and ANZ that has already delivered discounted clean energy finance to small and medium businesses at scale.
To date, the program has supported more than 1,600 Australian businesses with over $444 million in discounted asset finance, including more than $90 million provided in the last financial year alone.
Small and medium businesses make up almost a third of the Australian economy, and many continue to face pressure from higher energy prices, inflation and ongoing supply chain disruptions.
Access to discounted finance for energy-efficient equipment is seen as an important tool in helping these businesses manage costs while maintaining productivity.
CEFC Executive Director Richard Lovell said the program was aimed at helping SMEs invest in equipment that reduces energy use while easing financial pressure.
“This program helps bring forward investment in equipment that can reduce energy use and improve efficiency, while lowering financing costs at a time when access to affordable capital matters,” he said.
ANZ Managing Director of Product and Specialist Sales for Business & Private Bank, John Campbell, said the funding would help more businesses invest in assets that could deliver long-term benefits despite upfront cost barriers.
He noted that investments such as solar installations, equipment upgrades and vehicle fleet transitions can strengthen operations while positioning businesses for future growth, and said the nine-year partnership between ANZ and the CEFC has consistently helped businesses access the technology they need to grow and adapt.
The latest investment brings the total cumulative CEFC commitment to the ANZ clean energy finance program to $600 million.
Funding through the partnership has supported the installation of clean energy technologies across multiple sectors of the economy, including more than $105 million in agriculture, $72 million in manufacturing, $37 million in retail and wholesaling, and $16 million in mining.
The CEFC has built a long track record of working alongside Australia’s finance industry to unlock capital for sustainability initiatives.
More than $3.2 billion in CEFC finance has now been committed to help commercial borrowers access discounted finance for renewable energy and energy efficiency investments, reinforcing the corporation’s role in supporting the broader transition to a lower-emissions economy.