The Sustainable Australia Fund has secured an AUD200 million (US$135.62 million) commitment from the Bank of Australia.

The Fund was originally established by the City of Melbourne in 2002. Since then, it has financed a number of environmental upgrades for Victorian businesses, resulting in the abatement of over 300,000 tonnes of CO2 emissions as well as substantial cost savings to Victorian businesses through upgraded infrastructure.

The Sustainable Australia Fund is Australia’s leading provider of Environmental Upgrade Finance. Environmental Upgrade Finance provides simple, fixed-rate, long-term terms of up to 20 years for building upgrades. This is most often done through the installation of solar and batteries, waste and water solutions as well as more innovative and complex solutions such as waste to energy. This loan is then repaid through quarterly council rates.