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Environmental Upgrade Agreement Financing

An Environmental Upgrade Finance Agreement is a financing agreement to improve the environmental performance of any commercial building.

The agreement is between the Sustainable Melbourne Fund, property owners, and Council.

The financial institution advances funds to a property owner to undertake upgrade works. The property owner then makes repayments through their Council rates.

The benefit of Council involvement is that the loan is attached to the Council rates for the commercial property, and therefore has a high level of security. This security enables the financial institution to offer very attractive loan terms.

If you’re looking to upgrade the environmental sustainability of your business, there is now an opportunity for you to receive Environmental Upgrade Assistance funding, with the assistance of Kingston City Council.

Co-Ex Films, a plastic food packaging company in Braeside, was the first to take advantage of the Kingston Environmental Upgrade Finance. Steve McNaughton, Managing Director of Co-Ex Films, partnered with Gravitas Energy from Clayton South, to develop a project enabling Co-Ex Film’s to cut their energy costs and convert to sustainable solar power by way of an Environmental Upgrade Agreement with Kingston Council.

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More Cash, Now

Maximise your solar project savings by choosing a 6 month no repayment period with continued low repayments. Take advantage of government incentives and write down of $150K of solar equipment this financial year, further improving the viability of your project. Learn more in this Sustainable Australia Fund fact sheet.

Benefits of Environment Upgrade Finance 

Immediate cash benefit: Up to 6 months no repayment period

Immediate cash benefit: Half your quarterly repayments with terms up to 20 years

No cash up front: $0 down finance for your project


More Cash: Finance GST to claim back on your next BAS statement

$0 of Application fee: where new application settle prior to 30th June 2020

✓ No additional personal security required

Environmental Upgrade Agreement Financing can be used to support a broad range of works to improve the environmental sustainability of Kingston businesses.

Eligible property owners can apply for up to 100% of project costs with repayments structured through Council’s rates on a quarterly basis. The minimum loan amount is $15,000.

This video, Sustainable Australia Fund: Affordable Finance for Environmental Upgrades explain how Environmental Upgrade Finance works and how it can help businesses save money.

Visit Sustainable Australia Fund to find out more or apply.

Frequently Asked Questions

What type of projects are eligible?

  • Installation of an approved solar photovoltaic (PV) system to any eligible premises.
  • Installation of an approved solar hot water (HW) system to any eligible premises.
  • Measures that reduce greenhouse gas emissions, save or generate energy.
  • Lighting upgrades to more efficient lighting e.g. LED, lighting controls and daylight sensors.
  • Heating, cooling and ventilation improvements.
  • Efficient unit replacement e.g. pumps and variable speed control equipment.
  • Electronic control equipment e.g. power control of motors, pumps, boilers and air heating/cooling systems.
  • Rainwater harvesting and filtration systems.
  • Waste water, grey/black water recycling/treatment for re-use of water.
  • Toilet/urinal replacements for accredited and compliant efficient systems.

What are the benefits?

  • Easy to manage repayments paid via instalments.  
  • Free up cash flow by locking in competitive long-term rates.
  • Protect your business from rising energy prices
  • Replace old and inefficient equipment with newer more efficient technologies.
  • Reduce your company’s greenhouse gas emissions.

Find out about the eligibility criteria

To find out if your business is eligible for Environmental Upgrade Financing, contact