Commonwealth Bank recently served as sole financier and green coordinator on what is expected to be Australia’s first-ever Climate Bond Initiative-certified Green Development Loan, supporting Charter Hall Group’s 480 Swan Street development in Richmond, Victoria.
The project’s strong environmental credentials helped Charter Hall achieve Climate Bond Initiative (CBI) certification for its five-year, $202 million construction facility with CBA. This is the first green construction facility in Australia and marks a new milestone in the development of the domestic green loan market.
The planned commercial office development, specifically designed to serve as Australia Post’s new headquarters in Melbourne, is being constructed under a carbon-neutral framework and is targeting a 6-star Green Star rating and a 5-star NABERS Energy rating. The building will include 32,000 square meters of office space over 12 levels, as well as 1,000 square meters of retail space at ground level.