BetterBuildingFinance.com.au is a joint initiative of ClimateWorks Australia and Sustainable Melbourne Fund.
The website provides a simple, business-friendly resource for building owners, tenants and service providers that allows them to compare the advantages of using Environmental Upgrade Finance over traditional financing options for building upgrades.
Environmental Upgrade Finance (EUF) is a growing form of finance provided by major financiers in Australia and specifically designed for funding upgrades of commercial and other buildings that reduce operating costs and at the same time improve energy, waste or water efficiency and increase use of renewable energy. EUF is secured against the property, similar to council rates, which makes it lower risk for banks and allows them to offer better finance terms, including fixed interest rates over 10 or more years. EUF is currently available in the City of Melbourne and in various locations across New South Wales, and is soon expected to become available across Victoria and South Australia.
The website includes:
case studies of buildings that have upgraded using EUF
example business cases for a range of real buildings across South Australia, Victoria and New South Wales
a 'mortgage calculator'-style tool to help building owners compare EUF to traditional finance in their own building
details of banks, councils and service providers that can help facilitate this finance
The website was developed as part of a project funded by the Commonwealth Department of Industry to improve awareness, information, resources and skills across the property sector and associated services regarding Environmental Upgrade Finance.