Connected to the group’s Community & Social Value Framework (CSV Framework) and annual social impact performance, Australian Unity has executed a market-leading Sustainability-Linked Loan worth $50 million with Westpac.

Developed in partnership with leading social impact consultants, Social Ventures Australia, Australian Unity’s CSV Framework defines and measures the group’s unique social impact across a broad portfolio of health, wealth and care products and services.

The financing instrument is linked to Australian Unity’s material delivery of wellbeing outcomes as measured by the CSV Framework and will be available to support the group’s general funding needs and investments that drive CSV value and ongoing wellbeing initiatives.

The launch of the loan follows the release of Australia’s first Wellbeing Budget by Federal Treasurer Jim Chalmers in July.   

Adam Vise, Australian Unity’s Group Treasurer and General Manager of Strategy & Impact, said the Sustainability-Linked Loan creates a link between the group’s financial arrangements and wellbeing—a social-based measure that pioneers the measurement of the ‘S’ in ESG. 

“The loan affirms that the capital market is willing to accept an explicit link between Australian Unity’s financing and long-term sustainability and community impact credentials,” said Mr Vise.

“Our CSV Framework provides a foundation for decision-making and keeps us strategically aligned to our purpose. It is a natural progression that we can now link our financial arrangements to our sustainability performance—particularly at a time when creating and measuring ‘wellbeing’ is front of mind for policymakers and the community.”

Chief Financial Officer and Group Executive for Finance & Strategy, Darren Mann, said the partnership with Westpac represented a natural alignment between the two companies.

“As a wellbeing company founded by community leaders who believed in the power of collective endeavours, Australian Unity has delivered positive social impact for more than 180 years,” said Mr Mann.  

“It’s fitting to be partnering with Westpac—to launch a Sustainability-Linked Loan that will be directed to general funding needs and activities and investments that make a strong contribution to our CSV framework—supporting customers and the community.”

Westpac Institutional Bank Chief Executive, Anthony Miller said, “Australian Unity was founded to achieve better social outcomes in Australia long before the term ESG was ever imagined.

“Today, it’s not surprising that Australian Unity is continuing to grow and lead the market in defining, measuring and delivering the community and social value that is central to its purpose. We’re proud of this partnership.”

The Sustainability-Linked Loan follows Australian Unity’s second year of being recognised as one of the Australian Financial Review’s (AFR) Sustainability Leaders for using social impact measurement as part of key decision-making and strategic planning. Presented on 30 June 2023, the AFR Sustainability Leaders list celebrates Australian companies that are making real progress in tackling sustainability challenges—while delivering business value along the way.

About the Sustainability-Linked Loan

The Sustainability-Linked Loan is issued under Australian Unity’s recently announced Sustainability-Linked Financing Framework, which obtained a Second Party Opinion from ISS Corporate Solutions, Inc., confirming alignment to the Sustainability-Linked Loan Principles and Sustainability-Linked Bond Principles. Australian Unity was supported by Westpac who acted as Sole Sustainability Coordinator.

For more information about Australian Unity’s Sustainability-Linked Loan, view the Sustainability-Linked Financing Framework.

To read Our Impact 2023 and for more information about Australian Unity’s award-winning CSV Framework, visit: australianunity.com.au/impact

-ends-

Media contact:

T: 1300 408 776

E: media@australianunity.com.au

About Australian Unity

Established in 1840, Australian Unity is a member-owned wellbeing company with more than 385,000 members and more than 700,000 customers. Our range of health, wealth and care products and services provides member, customer and community value that is supportive of personal and community wellbeing.