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Media Release

Commonwealth Bank unveils new Green Mortgage initiative

Commonwealth Bank unveils new Green Mortgage initiative

Commonwealth Bank is introducing a new reward scheme for energy efficient home owners, as announced by CBA Chief Executive Officer Matt Comyn at the Trans-Tasman Business Circle lunch earlier today.

Mr Comyn said CBA is seeing strong investor demand for green bonds and plans to pass on the benefits of this to customers in the future through a variety of initiatives, including cashback offers to CBA mortgage holders who have solar panels installed.

Commonwealth Bank’s Executive General Manager Home Buying, Daniel Huggins said CBA is committed to developing more innovative solutions to help those customers who are looking for green, energy efficient opportunities.

“We are always looking for innovative ways to support our customers, which is why we are launching this new initiative. The Green Mortgage initiative will provide a $500 cashback to customers who have certified solar panels installed,” Mr Huggins said.

“We understand many of our home loan customers could reduce their energy volume and usage, and pay less or become net positive for energy by investing in energy efficient devices,” he said.

Mr Huggins said the Green Mortgage initiative is just the first of many actions that CBA is undertaking to encourage home owners to make greener choices.

“We want to support more of our customers who wish to install small scale renewables by reducing their installation costs and payback periods,” Mr Huggins added.

The Green Mortgage initiative will be formally launched in the coming weeks, at which time CBA home loan customers with solar panels installed are encouraged to take advantage of the incentive.