Helping Local Businesses Go Green with EUAs

Helping Local Businesses Go Green with EUAs

Published on 31 October 2018

Baw Baw Shire Council is offering up to five local businesses Environmental Upgrade Agreements to finance improvements to commercial properties that improve energy, water or waste efficiency.

Environmental Upgrade Agreements (EUA) are a growing form of fixed interest finance for businesses to fund commercial building upgrades.

Council is working with Building Better Finance to help facilitate EUAs to businesses that own or lease commercial buildings within the Shire.

Council is piloting the EUA program for a two-year trial period with a focus on medium to larger scale upgrades for up to five local businesses.

EUAs can fund any improvements to a property that improves energy, water or waste efficiency or increase renewable energy such as:

Solar panels LED lighting or motion sensors Weather proofing/draught sealing Improvements to heaters, coolers and ventilation Refrigerator/chiller upgrades Waste management

EUAs aim to reduce operating costs, improve energy, waste or water efficiency or increase the renewable energy generated onsite. This can result in reducing bills, improving building value, and reducing greenhouse gas emissions.

EUA finance is secured against the property rather than the property owner, with repayments collected by Council for distribution to the finance provider. This structure makes EUAs a lower risk for finance providers and allows them to offer more attractive finance terms.

EUA finance is available over a longer term than typical business finance and can lead to a cost-positive outcome for both building owners and tenants.

To find out more, Download the Environmental Upgrade Agreement Fact Sheet (Print Version)(PDF, 193KB) or visit www.bawbawshire.vic.gov.au/EUAs

Quotes attributable to Environment Voice Advisory Committee Representative and Central Ward Cr Mikaela Power

“We’re pleased to join the growing list of Victorian Council’s that are offering EUAs to local businesses. Through this program we aim to help local businesses get the finance required to make significant upgrades that allow them operate in a more environmentally sustainable way.”

Quotes attributable to Environment Voice Advisory Committee Representative and East Ward Cr Peter Kostos

“Baw Baw Shire Council is committed to be a leader in environmental sustainability. The EUA program aligns with our Environmental Sustainability Strategy 2018-2022 to work with Government authorities, partners and our community for continual improvements to environmental impacts and performance.”