CBA offers green loans to retirement living sector and residential aged care

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CBA has launched a new loan encouraging operators to upgrade buildings to cut emissions by 30%.

Property owners could extend their commercial property loans by up to 20 per cent, with zero line fees and no establishment fees, to pay for major sustainability upgrades.

To be eligible, buildings must achieve a star rating improvement under the National Australian Built Environment Rating System (NABERS) or reduce the property’s carbon emissions by 30%. A three-star rating is considered “average” in energy efficiency performance, with six stars the highest rating.

Offices and shopping centres have received the most NABERS ratings, the system can cover apartments, hotels, data centres, hospitals and will soon include the retirement living sector and residential aged care.

“What is special about this (new loan) is that it is significant in size and open to many different parties,” said NABERS director Carlos Flores. “This is a debt instrument designed to drive sustainable change across the sector.”

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