AFG plants tree for each new home loan

Native species bring degraded sites back to life

AFG plants tree for each new home loan

Broker aggregator AFG is planting one tree for each new home loan provided by its AFG Securities business.

Reflecting its commitment towards a more sustainable future, AFG has partnered with Carbon Positive Australia, a not-for-profit that restores degraded lands through ecologically sensitive planting.

From July 1, 2022, each home loan provided by AFG Securities – AFG’s securitised lending business offered to customers under the AFG Home Loans brand – results in one tree planted, the aggregator said.  The initiative comes at no extra cost to the customer.

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The program will enable a variety of native tree species to be planted on degraded sites, predominately in Western Australia and NSW, AFG said. This would provide corridors for native fauna and support biodiversity and ecosystem restoration.

AFG Securities general manager Damian Percy (pictured above left) said as AFG was committed to become more sustainable through its own operations, it wanted to help customers do the same.

“Given the serious threat climate change presents to our planet, people are increasingly looking for ways to cut emissions and minimise their footprint,” Percy said.

“By planting a tree for every mortgage provided, whether a refinance or new loan, our customers can be assured this important transaction is also having a positive impact on our planet.” 

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AFG CEO David Bailey (pictured above right) said although AFG Securities represents just one part of AFG’s wider business, the initiative represented a “first step” of many to come, as part of the aggregator’s commitment to providing sustainable products.

“We started measuring our own carbon footprint in 2021 and have begun identifying and implementing measures to reduce our impact on the climate,” Bailey said.

“We want to help our customers do the same, and the AFG Securities plant-a-tree program kick starts this pledge.”

AFG Securities is wholly owned by AFG, which is funding the purchase of the trees.  During FY22, AFG Securities provided about 5,000 customers with home loans, it said.

AFG Home Loans offers a suite of products, some of which are funded by AFG Securities and are attached to the plant a tree initiative.