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Our approach

Being responsible is not limited to managing the risks to our business. We have an opportunity to work with our customers to help them manage their impact on the environment more effectively.

ANZ does a great deal of research and development work to anticipate what types of products our consumer and business customers will need in the future.

We are focused on practical ways we can support the investment by our customers in energy efficient technology and renewable energy sources, and their transition to a carbon constrained economy.

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).