Keyton’s Green Loan a first for the Australian retirement living sector
In what is believed to be a first for the Australian retirement living sector*, Australia’s leading owner and operator of retirement villages Keyton has recently increased its debt facilities to $1.3 billion with a significant proportion comprising a green loan.
The green loan will support Keyton’s efforts to achieve the goals of its sustainability strategy which include all development projects meeting a minimum NatHERS rating of 7.5 (above the National Construction Code minimum requirement) or Green Star Buildings rating of 5 stars, and a commitment to refurbishing the existing portfolio to improve energy efficiency and climate resilience.
With over 30-years’ experience in retirement living and more than 15,000 residents living in more than 65 villages across Australia, Keyton is always exploring ways to innovate and improve the resident experience.
Keyton Chief Executive Officer, Nathan Cockerill said: “The green loan complements Keyton’s sustainability strategy and demonstrates the company is about more than bricks and mortar with our retirement villages and the communities within them designed for people and the planet to thrive.
“It supports the actions we’re taking to reduce our impact on the environment across our operations,” Mr Cockerill said.
“For example, we don’t install gas heating systems in our new developments, we use more efficient electric alternatives, and where appropriate, central systems for greater energy efficiency.
“Keyton’s new development standards include improved insulation, higher performance windows, four-to-five-star efficient appliances, and on-site EV charging.
“Where possible, the materials used in our latest developments come from sustainable or recycled sources and use less harmful chemicals,” Mr. Cockerill said.
Keyton’s Chief Financial Officer Paul Martin says the company’s Green Loan is consistent with its vision of “providing Australia’s most sustainable retirement villages, where residents can live fulfilling lives while also partnering with us to protect the planet.”
“Our aim is to increase the availability of high-quality, energy-efficient residential homes for Australian seniors,” Mr. Martin said.
David Jenkins, Head of Sustainable Finance at NAB said ‘Keyton’s green financing highlights their commitment to sustainability, setting a positive example in the retirement sector. Keyton should be commended for reducing environmental impacts and prioritising resource efficiency all while enhancing the well-being of residents.
Charles Davis, Managing Director, Head of Sustainable Finance and ESG at Commonwealth Bank said: “Keyton has demonstrated its commitment to providing sustainable living options for its residents through the development of new high-quality accommodation and by refurbishing existing villages to be more energy-efficient. We are pleased to support their ambitions through a Green Loan tranche within their financing, which represents an important transaction for the retirement living sector.”
