Own CBA shares? Here's the bank's latest green initiative

Green credentials are increasingly important in the construction sector.

Commonwealth Bank of Australia (ASX: CBA) shares have rebounded from a small loss earlier in the day. CBA shares closed up 0.95% at $106.10 per share.

The S&P/ASX 200 Index (ASX: XJO), meanwhile, tracked the other way, giving back early day gains to close almost flat (up 0.07%).

That's today's price action.

Now here's the latest on the big bank's green initiatives.

A woman smiles holding her phone and a takeaway coffee in front of a wall of green ivy.

Image source: Getty Images

Australia's first build-to-rent green loan

According to a release from CommBank, it's just signed Australia's first build-to-rent green loan together with Oxford Properties Group.

The $130 million green loan will support the construction of Oxford's Indi Sydney City development. The high rise will be the capital city's first build-to-rent development and count among Australia's most sustainable towers.

Among the innovative design features intended to make the building carbon neutral are regenerative lifts. These will channel the heat generated by elevators into reusable energy, offering a 20% to 25% increase in elevator energy efficiency.

Commenting on the green development loan, CBA's group executive of institutional banking and markets, Andrew Hinchliff, said:

As our nation grows and evolves, the way Australians live, work and play is changing and people will be seeking new, more flexible modes of living that can put them closer to their jobs. Build-to-rent properties will play a key part in Australia's future, and we're very proud to have been able to help Oxford break new ground with this sustainable development.

CBA's managing director, future cities and networks, Michael Thorpe, added:

We're excited to bring the first premium built-to-rent offering to the Sydney residential rental market, and one that's earned Green Loan certification through its strong sustainability credentials and a commitment to drive positive environmental outcomes.

How have CBA shares been performing?

CBA shares have gained 29% so far in 2021, easily outpacing the 13% year-to-date gains posted by the ASX 200.

Over the last month, the CBA share price is up 4.33%.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Bank Shares

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

If I invest $10,000 in CBA shares today, what could they be worth in October 2027?

Find out what brokers expect next out of CBA shares.

Read more »

Piles of increasing coins on Australian $100 notes.
Bank Shares

By October 2027, $5,000 invested in this ASX bank stock could turn into…

Guess how much upside is expected out of this ASX stock!

Read more »

Happy young woman saving money in a piggy bank.
Bank Shares

If I invest $10,000 in ANZ shares, what passive income could I receive in FY27?

Are you invested into ANZ shares? Here's what you could earn.

Read more »

Four business people wearing formal business suits and ties walk abreast on a wide paved surface with their long shadows falling on the ground ahead of them.
Bank Shares

Are ASX 200 bank stocks a buy in October?

Find out what analysts are forecasting for bank shares over the next 12 months.

Read more »

A woman wearing a yellow shirt smiles as she checks her phone.
Bank Shares

Commonwealth Bank vs ANZ: Which is better for passive income?

Which ASX banking giant delivers better passive income: Commonwealth Bank or ANZ? Let’s stack up their dividends, franking and recent…

Read more »

Bank building with the word bank in gold.
Bank Shares

Here's the dividend forecast out to 2028 for Westpac shares

How much dividend income can investors bank on in the years ahead?

Read more »

Happy young couple saving money in piggy bank.
Bank Shares

Why I'd buy NAB shares in October

I take a closer look at why I would be comfortable adding this ASX bank share in October.

Read more »

Smiling man paying for his order from his phone on an EFTPOS machine at a restaurant.
Bank Shares

Should I buy CBA shares in October?

I look at the valuation, earnings forecasts, and dividend outlook before deciding what I would do next.

Read more »