ANZ named best bank for sustainable finance

ESG efforts recognised

ANZ named best bank for sustainable finance

ANZ has been named best bank for environmental, social and governance and sustainable finance.

The big four bank won the accolade in the annual Australian Corporate Treasury Association (ACTA) awards, based on a recent large corporate relationship banking study, conducted by Peter Lee Associates.

ANZ head of sustainable finance Katharine Tapley (pictured) said Peter Lee Associate’s acknowledgement cemented the bank’s position as a leading environmental sustainability bank in the region.

It showed the bank supported customers who looked for opportunities to reduce their emissions in pursuit of net zero, she said.

“We saw record growth in the last financial year, completing 81 deals with a transactional volume of about $119 billion in multiple currencies across Australia, New Zealand, Asia, Europe and the US,” Tapley said.

ANZ managing director institutional Australia Tammy Medard said the result reflected the “dedication and talent” of the team, and the trust customers put in the bank to help them solve problems and “realise their ESG ambitions.”

Among the sustainable lending products ANZ offers to institutional customers are green, social and sustainability loans, and sustainability-linked loans.

The bank’s other sustainable finance offerings include green, social and sustainability bonds; sustainability-linked bonds, derivatives and guarantees, green guarantees and a sustainable supply chain facility.

In November 2021, ANZ announced it had implemented a green guarantee facility of HKD $117.8m ($21m AUD) for a Vibro-led foundation project in the West Kowloon Cultural District in Hong Kong.

The bank was joint sustainability coordinator for a $1.3b sustainable-linked loan for Coles. As part of the loan, Coles committed to targets relating to greenhouse gas emissions, women in leadership and waste diversion in landfill.

ANZ has a dedicated sustainable finance team with technical sustainability expertise and experience across multiple banking products and industry sectors, which operates globally, including within Australia.

ANZ recently announced a partnership with ESG investment and advisory firm, Pollination, deepening the expertise, and solutions available to customers transitioning to net-zero.

Following the 25-basis point rise in the official cash rate, ANZ said its variable interest home loan rates would increase by the same amount.

From 13 May, for owner-occupier customers, the ANZ standard variable rate (principal and interest) is 4.64% (5.19% for owner-occupier interest-only).

Read more: Non-majors raise variable loan rates

ANZ group executive Australia retail Maile Carnegie said home loan customers were generally well placed to manage rising rates, noting around 70% of accounts were ahead on repayments.

“Household and business deposits were also at record highs,” Carnegie said.

On an owner-occupier average home loan of $450,000 (principal and interest), monthly repayments would increase by $57, she said.

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