Major banks in New Zealand, including BNZ, ASB, ANZ, and Westpac, have seen a significant increase in customers taking out green energy financing. Since launching these loans in 2022, the banks have issued tens of thousands of “green” loans, totaling over $1 billion. These loans offer interest-free or low-interest financing for energy-efficient initiatives such as heating, solar panels, insulation, and clean transport like electric cars. The loans can be taken out as mortgage top-ups or standalone loans. This financing option has gained popularity among customers looking to reduce their environmental impact. The banks’ green loan programs aim to support sustainable living and reduce carbon emissions. With the growing demand for eco-friendly solutions, it is likely that the uptake of these loans will continue to rise. The $1 billion milestone marks a significant step towards a more sustainable future.
New Zealanders have taken out more than $1 billion in environmentally-focused loans to finance items like heat pumps and electric vehicles.
