CEFC and Metro Finance program gives green light to ‘green’ transport choices

Metro Finance , which has an extensive broker network across Australia , is launching Metro Green, an initiative that will use up to $50 million in CEFC finance to offer customers a 0.7 per cent discount on Metro’s standard finance rate if they purchase low emissions vehicles , including electric vehicles and hybrids .

CEFC CEO Ian Learmonth said reducing transport – related carbon emissions was a critical focus area for the CEFC, particularly through its

Sustainable Cities Investment Program, which supports projects and programs that contribute to the energy productivity of Australia’s cities and regions.

“With the Metro Finance Metro Green initiative , we’re giving a green light to ‘green’ transport choices,” Mr Learmonth said. “Transpor t is responsible for around 16 per cent

of Australia’s greenhouse gas emissions . T his could be dramatically reduced if businesses replace their old vehicle fleets with best – in – class models.

“ The scale of emissions reduction that can be achieved through upgrading vehicles with already avail able technology is staggering.

National Transport Commission figures show that if Australian consumers had purchased vehicles with best – in – class carbon emissions in 2016 , national average carbon emissions would have been reduced by 59 per cent. Those figures don’t include electric vehicles, which have zero tailpipe emissions.”

Metro Finance Chief Executive Phillip Crossman said: “Our goal is to put more customers into low emissions vehicles by providing our broker network with opportunities to influence their customers.

“The CEFC’s finance makes it possible for us t o offer a discount to encourage customers to choose vehicles that will have a lasting positive impact on the environment.

“To make it easier, we’re providing our brokers with statistics and standards on vehicles and equipment that qualify for the discount . That way they can demonst rate to customers what makes a ‘ green’ choice a good choice.”

Metro Finance offers Commercial Hire Purchase, Chattel Mortgage and Finance Lease products through its broker network . Brokers using the Metro Finance Metro Green web site will be able to quickly identify if a vehicle qualifies for the discount. If not, the system recommends alternate qualifying lower emissions vehicles.

“In this way, Metro Finance will be leading the movement to promot e green finance within the transp ort industry which it regards as an inevitable progression,” Mr Crossman said.