Australia Briefing: Parrots Helped by Green Loans

Australia Briefing: Parrots Helped by Green Loans

Good morning all, it’s Jackie here in Sydney. A parrot facing extinction is getting help from a sustainability-loan push. But first...

Today’s must-reads:

• Real estate developers give divergent outlooks

• Companies are balking at business-travel prices

• Goldman is positive on Australia’s consumer health

Bird is the word. A rare parrot living at the gateway of the Great Barrier Reef is the centerpiece of Australia’s sustainable finance boom. North Queensland Airports Group this month refinanced around A$760 million of debt with requirements to improve habitats for threatened species including the double-eyed fig parrot in partnership with some of the local Aboriginal population.

Property chiefs are poles apart on the outlook for their industry, underscoring the uncertainty over rising interest rates. Lendlease CEO Tony Lombardo sees growing tailwinds, while Dexus leader Darren Steinberg says he’s facing one of the toughest environments of his career. They’ll get more clues on the path ahead with today’s RBA minutes.

Sky high. Business class has always been beyond the means of most flyers. But now even companies can’t afford fares that have soared amid the pandemic. A return premium flight on the longest routes, between NYC and Sydney, for example, can cost more than $20,000, about double the pre-pandemic price.

Strong consumer