ANZ’s updated Sustainability Target
The deal comes after ANZ more than tripled its existing sustainable finance commitment earlier in November, creating a new $A50 billion ‘sustainability target’ as part of its drive to help customers make the transition towards a low-carbon and more sustainability developed economy.
The plan will see the bank expand its five-year $A15 billion ‘low-carbon solutions target’ into an $A50 billion ‘sustainability target’ from October 2019 to September 2025.
Under the new target, ANZ will fund and facilitate at least $A50 billion in sustainable solutions for customers by 2025, including initiatives to help improve environmental sustainability, increase access to affordable housing and promote financial wellbeing.
The bank has already funded over $A19 billion in low-carbon solutions against its $A15 billion 2020 target - a full year ahead of existing plans.
The sustainability target is core to ANZ’s purpose of shaping a world where people and communities thrive.
The bank focuses on three priority areas that underpin its purpose – environmental sustainability, housing and financial wellbeing. The sustainability target is the bedrock of its focus on the environment.