Green loan part of Newcastle Airport’s sustainability focused future

Newcastle Airport in Australia has joined forces with CommBank to fund a raft of pioneering sustainability programmes via an innovative A$235 million Green Sustainability-Linked Loan (GSLL).

The GSLL converts existing loan funding to one linked to specific sustainability actions and outcomes.

Airport CEO, Dr Peter Cock said with the support of the GSLL, Newcastle Airport is proud to be part of the Hunter Region’s transition to low carbon energy.

“As we strive to be the green gateway to the Hunter, we are committed to supporting and demonstrating the region’s shift towards a sustainable future,” he enthused.

“Our new terminal, which has achieved 5 Star Green Star standard in design, reflects our dedication to environmental responsibility and our role in this important transition.

“We have already achieved net zero for scope 1 and 2 emissions well ahead of our 2030 goal. It’s ambitious programs like this that are really setting the standard for how we approach sustainability.

“Our terminal expansion build has also been Designed Assessed by the Green Building Council of Australia (GBCA) and is on track to receive a 5 Star Green Star Buildings rating – the first airport terminal in Australia to achieve this under the new rating tool.”

He continues: “To attain a 5 Star Green Star rating for our expanded terminal build is a testament to its high level of sustainability and environmental performance.

“It’s a great achievement for the airport and the broader Hunter region, which is adopting new technologies and diversifying its economy.

“Attaining Level 4 Airport Carbon Accreditation from Airports Council International is another proud achievement. We are one of only two airports in Australia with this ‘Transformation accreditation’ acknowledging our carbon management strategy and our dedicated efforts to significantly reduce emissions.

“Out of 591 airports in the ACA Program worldwide, only 98 airports have achieved an ACA Level of four and above. It serves as a positive example, encouraging other airports to join in the collective journey towards a more sustainable future.

“Our sustainability promise contributes to global efforts in this space, supports the Australian Government’s pledge to achieving net zero greenhouse gas emissions by 2050 and is a part of the Hunter region’s diversifying economy.

“By mid-2025, our terminal expansion will be complete with Newcastle Airport emerging as a true global gateway, drawing both domestic and international services.

“We believe a holistic approach to sustainability, integrating operational changes and financial strategies, will lead the way for a region in transition.”

CommBank’s GSLL is broadly tied to Newcastle Airport’s efforts to reduce scope 3 emissions, achieving a high ACA level and minimising waste sent to landfill across the entire airport precinct, with interest rates linked to ambitious progress against these goals.

In the past year, Newcastle Airport has made significant progress towards becoming one of the most sustainable airports in Australia, including partnering with Australian renewable energy retailer to allow energy requirements to be met entirely through renewable sources helping to achieve net zero scope 2 emissions well ahead of the airport’s original 2030 target, (achieved in Jan 2023).