Latest News

Add My News • Search Old News

Gippsland › Latest news › Gippsland Portal Local News

New Scheme Promotes Environmental Upgrades In Gippsland

• New scheme to help business be more energy efficient, reduce waste, cut water use

By DAnny O'Brien - 21st August 2014 - Back to News

· Environmental Upgrade Agreements deliver longer term and lower interest loans

· Loans for upgrades boost bottom line and help build a cleaner Victoria

The Victorian Coalition Government has introduced legislation that could help Gippsland businesses access funds to become more energy efficient, reduce waste and cut water use.

Member for Eastern Victoria Region Danny O’Brien said the introduction of Environmental Upgrade Agreements (EUAs) would allow local councils to offer a new financing mechanism to help businesses secure longer term and lower interest loans for environmental upgrades.

"This innovative scheme will encourage businesses to make significant environmental upgrades which will not only improve the efficiency of their buildings but will also boost their bottom line," Mr O’Brien said.

"Upgrading buildings for greater energy, water and waste efficiency is a cost-effective way for businesses to reduce ongoing costs and improve building value. However, many businesses face difficulty accessing finance for such upgrades."

Under the EUA scheme, lenders provide finance to a building owner for environmental upgrades and the local council then collects the repayments through its rates system and passes them on to the lender. Use of the council rates system means that loans are more secure, allowing lenders to offer long term low interest loans.

"This is a practical way the Coalition Government is helping small business to be more profitable and more environmentally sustainable," Mr O’Brien said.

Minister for Energy and Resources and Member for Morwell, Russell Northe, said the scheme had already been working well in the City of Melbourne and the Coalition Government was now passing legislation to give councils across the state the opportunity to take part.

"The Coalition Government is putting in place practical and effective programs to promote energy and water efficiency, deliver reductions in waste and build a cleaner Victoria," Mr Northe said.

"I would encourage councils and businesses in Gippsland to take advantage of this scheme in order to access funds to improve their energy and water efficiency and reduce waste."

Participation in the scheme is voluntary for councils. The Victorian Government will consult with councils, business groups and financiers on the details of implementation.

Media Contact: Danny O’Brien 5174 7066 or 0481 013 620


Source: http://gippsland.com/

Published by: news@gippsland.com



Edit this news article




Related Articles

 

 

 

 

 

 

 

Baw Baw Bass Coast Cardinia East Gippsland Latrobe City South Gippsland Wellington
© 2001-2025 gippsland.com Print this page | Subscribe to Newsletter | Feedback / Inquiries | Login
Care has been taken in compiling the component parts of this website. However, Gippsland.com does not warrant or represent that the website is free from errors or omissions, that the qualifications claimed by an advertiser are valid or that the published details of any advertiser are as stated on the website. Please review the full statement of our Terms and Conditions of Service and disclaimer.