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Lender plants 35,000 trees in carbon offset program

Non-bank lender Resimac has announced that it has planted 35,000 trees through its Carbon Conscious program since committing to plant a tree for every new loan settled.

Resimac has announced that its partnership with carbon farming company Carbon Conscious Investments has helped plant 35,000 trees since 2010. These trees could help remove more than 5 million kilograms of carbon dioxide emissions from the atmosphere, helping to mitigate the impact of greenhouse gases, according to the lender.

Through the lender’s Carbon Conscious program, a native Mallee Eucalypt tree is planted in the Australian Wheatbelt region for every new loan settled by Resimac. 

The lender emphasised that the cost of the activity is not factored into the pricing of Resimac’s home loans, nor does it result in any additional expenses for customers.

Resimac CEO Scott McWilliam said the program reflected the company’s commitment to conducting business in an environmentally responsible fashion.

“We are proud to reach this milestone with our customers. Carbon Conscious is an initiative we’ve been participating in for the last decade, and it’s an important part of our environmental, social and governance framework. 

“Our partnership with CCI has spurred broader changes throughout our organisation. Since starting the program, we have dramatically reduced our paper consumption, and we’re on our way towards becoming completely paperless. This is helped by our recent move to offering a completely digital loan origination process,” he said.

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Anthony Fitzgerald, executive director at Carbon Conscious Investments, added: “January 2020 marked the 10-year anniversary of our Voluntary Carbon Offset relationship with Resimac, and we thank them for the long-term commitment that has resulted in 35,000 trees being established in the Western Australian Wheatbelt.

“The project forests are established using native tree species that are drought and fire resistant, and in addition to offsetting CO2, they play a role in increasing the available habitat for native birds, insects, lizards and mammals,” he said.

The lender has a range of social and sustainability initiatives underway, including a partnership with Food Ladder, which uses hydroponics and sustainable technologies to help communities grow their own food, and volunteering at The Station Ltd, a drop-in centre in Sydney that caters for adults who have difficulty obtaining and sustaining accommodation.

Earlier this year, Resimac and its directors also donated $75,000 to the Salvation Army Disaster Appeal, and $25,000 to WIRES – Emergency Fund for Wildlife, following the summer bushfires.

[Related: Resimac settlements propelled by speedy turnaround times]

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