Commonwealth Bank of Australia (CBA) launched a range of new green asset finance solutions to support businesses investing in green vehicles, equipment and machinery. CBA’s new green vehicle and equipment finance offers provides discounts of up to 1% off the standard rate for new and used electric or hydrogen powered cars, trucks, vans or buses valued up to $250,000, and discounts of up to 0.5% on other qualifying assets, including electric and hydrogen powered machinery, solar, wind and hydro-powered equipment and charging and storage equipment.

“This new green asset finance offering is designed to assist companies in the manufacturing, logistics and construction sectors who are focused on lowering their running costs and energy wastage while also reducing carbon emissions,” Chris Moldrich, general manager of asset finance at CBA, said. “These new offerings enable businesses to transition their fleets and equipment to the latest, best-in-class sustainability options, such as electric vehicles and green equipment. Our financing solutions cover up to 100% of the purchase price of these assets, as well as supporting infrastructure such as chargers and batteries. There is a range of terms to suit different cash flow needs, and the ability to use the purchased equipment as security for the loan also enables businesses to free up their working capital for other purposes.”