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The non-bank lender has announced it is now making a financial contribution to native tree-planting projects on behalf of every customer who settles a loan with them.
Resimac has confirmed that, for every loan settled, it is giving customers the option to support one of three community tree-planting projects that aim to improve biodiversity and prevent climate change.
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Under a new partnership with Carbon Positive Australia — a non-profit organisation that works to restore degraded lands through planting native plants — Resimac will make a financial contribution to one of three tree-planting projects for every customer who settles a loan with them.
The non-bank has sourced the tree-planting projects through Carbon Positive Australia’s new funding platform, Plant Trees Australia, an online hub that brings together community groups, volunteers, funders, and landholders for community tree planting.
The three options are:
‘Pocket forests’ in schools and communities across Australia
School children and communities will plant Miyawaki, or ‘pocket’, forests in schools and parks across Australia. The Miyaki forests reach canopy cover quickly and provide greater biodiversity than standard forestry techniques — run in partnership with BrettaCorp, Earthwatch and the Harry Butler Institute.
Biodiversity and ecosystem restoration in Victoria and WA
Community groups will plant trees on land that has been degraded or cleared to provide habitat connectivity.
The Victoria project is at former dairy farm Regen The Plains, Goulburn Valley and aims to restore areas of Plains Grassy Woodland, an endangered ecosystem where less than 1 per cent remains uncleared.
The Western Australia project is in Tardun, an area known for its wildflower display during spring. This planting project aims to increase native vegetation, reduce soil erosion, and increase productivity on the farm.
Indigenous-led projects in WA and Central Australia
Indigenous people will lead work in Western Australia and Central Australia to create tree nurseries, collect seeds, and plant trees. These efforts provide employment for rangers.
In 2023, Plant Trees Australia is starting work with the NPY (Ngaanyatjarra, Pitjantjatjara and Yankunytjatjara) Women’s Council. The council is led by women’s law, authority, and culture to deliver health, social, and cultural services for Aboriginal people in Central Australia. The goals of this work are to build a commercial-scale greenhouse, hire a ranger, and plant hundreds of trees.
‘Positively impacting communities, country, and climate, leaving a legacy for future generations’
Speaking of the move, Resimac chief executive Scott McWilliam said that the lender was demonstrating its commitment to take urgent action against climate change and its impacts.
“Resimac has a proud history of participating in initiatives that facilitate positive environmental and social impact,” Mr McWilliam said.
“As a non-bank lender that helps Australians achieve home ownership, we’re conscious that we also have a responsibility to help sustain the environment those homes reside in.
“We’re excited about working hand-in-hand with customers and Carbon Positive Australia to help support tree-planting projects that will make a real difference to local communities. This includes ‘pocket forests’ in schools and community parks throughout Australia, and Indigenous-led projects in WA and central Australia.”
The non-bank CEO added that the partnership recognised Resimac’s bigger responsibility to drive environmental change on behalf of its staff, customers, business partners, and community in a way that was “meaningful and sustainable”.
The CEO of Carbon Positive Australia, Louise-Marlena Tarrier, commented: “We are delighted that Resimac has become one of the founding funders of Plant Trees Australia.
“By funding and supporting community tree planting, this initiative will positively impact communities, country and climate, leaving a legacy for future generations.”
Resimac’s partnership with Carbon Positive Australia followed the conclusion of its 10-year partnership with environmental group Carbon Conscious.
This partnership saw Resimac fund the planting of more than 46,000 trees on behalf of its customers. These trees will offset more than 5,000 tonnes of carbon emissions over their lifetime.
[Related: Resimac strengthens broker support with new hires]
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