Green bank scheme to drive more non-banks into decarbonisation

The federal government’s green bank is hoping to encourage more non-bank lenders to fund the decarbonisation of commercial real estate after partnering with MaxCap on a new mandate that provides loans for the retrofitting of offices, malls and hotels.

Under the CEFC mandate, MaxCap will originate, execute and manage a portfolio of real estate loans, with the aim of attracting further institutional capital to invest in the sustainable refurbishment of commercial buildings. Its latest non-bank-focused mandate is part of a raft of direct and indirect programs launched by the CEFC to reduce carbon emissions across commercial property.to acquire and refurbish a 25-year-old Brisbane office building – 200 Creek Street – and cut its carbon emissions by as much as 55 per cent. It also has a $300 million program to encourage mass timber construction across the property sector.

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