Westpac gives ‘green’ loans

Westpac is set to release US$9,200 loans to Australian homeowners to install sustainable and eco-friendly energy facilities.

 

The bank said Nov. 8 the loans support the Australian Government Green Loans Program and will give homeowners an opportunity to improve their energy and water use efficiency, according to The Sydney Morning Herald ."The Green Loans Program assists families to install solar, water saving and energy efficient products to reduce greenhouse gas emissions," a statement from Westpac said."It also has the potential to help around 360,000 Australian households save on energy and water bills."Westpac group executive for retail and business banking, Peter Hanlon, said the initiative was an investment into the future.

"Sustainability is an integral part of Westpac's business strategy, having already reduced our emissions by 40 per cent between 1996 and 2008 with a further reduction of 30 per cent targeted by 2013," Mr Hanlon said.