Homeloans plants a tree for every borrower

Homeloans Limited has announced that it is planting a tree for each new home loan application approved after 1 January 2010.

HomeLoans Ltd says “We are taking action towards countering greenhouse gases in our atmosphere by planting a Mallee Eucalypt tree for each new Homeloans loan settled.

The Mallee Eucalypt is a native species adapted to the growing conditions of the Australian Wheatbelt region where they are planted.

Over its growing life, the Mallee Eucalypt will store carbon from the atmosphere.

This activity is not something that is factored into the pricing of our home loans and it does not result in any additional expense for our customers.

Rather, it is our way of contributing to a more sustainable environment and exercising our corporate social responsibility, something which is important to us at Homeloans.”

Homeloans Limited says it has already paid for the planting more than 200 trees through carbon offset company Carbon Conscious since the beginning of January 2010.

Source: HomeLoans Limited