(ASX:AFG) Australian Finance Group Ltd has unveiled plans to have one tree planted for each new home loan provided by its AFG Securities business, as part of its commitment toward a more sustainable future.
AFG has partnered with WA-based not-for-profit Carbon Positive Australia, which will plant one tree for each home loan provided by AFG Securities from July 1, 2022 – at no extra cost to the customer.
During FY2022, AFG Securities provided about 5,000 customers with home loans.
Under the new program, a variety of native tree species will be planted on degraded sites predominantly in Western Australia and New South Wales, providing corridors for native fauna, and supporting biodiversity and ecosystem restoration.
AFG Securities General Manager Damian Percy said AFG was committed to becoming more sustainable in its own operations and wanted to help its customers to do the same.
“Given the serious threat climate change presents to our planet, people are increasingly looking for ways to cut emissions and minimise their footprint,” he said.
“By planting a tree for every mortgage provided – whether a refinance or new loan – our customers can be assured this important transaction is also having a positive impact on our planet.”
AFG Chief Executive Officer David Bailey said although AFG Securities represented just one part of the wider AFG business, its new plant-a-tree scheme represented a first step of many to come, as part of its commitment to providing sustainable products.
“We started measuring our own carbon footprint in 2021 and have begun identifying and implementing measures to reduce our impact on the climate,” he said.
“We want to help our customers do the same, and the AFG Securities plant-a-tree program kick starts this pledge.”
About Carbon Positive Australia
Carbon Positive Australia is an Australian charity that has restored more than 5000 ha of land with over six million trees and captured 648,906 tonnes of carbon, working with landholders, communities & organisations. Carbon Positive empowers all Australians to take positive climate action.