Sustainable finance continues to gather pace both globally and in New Zealand. Organisations are actively looking at ways they can redirect capital and invest for an equitable, inclusive, thriving low-emissions economy.
We use our experience with green, social, and sustainability-linked financing to help clients meet their sustainable financing needs.
Our specialists are at the forefront of the ESG lending market in New Zealand. We advise lenders and borrowers on green loans to finance specific green projects and sustainability linked loans which seek to improve their sustainability profile. We also help lenders and borrowers with transition finance, as they push towards the longer term achievement of their ESG objectives.
Our work has included advising a major bank on the development of its ESG lending framework and documentation and its first sustainability-linked loan.
We advise on the carbon credit market and offsetting which can be highly complex due to the allocation process and regulatory impact. We also advise in relation to development of green star buildings and establishment of forestry assets for the purposes of carbon sequestration.
New Zealand Carbon Farming
We advised New Zealand Carbon Farming on raising debt funding from Rabobank and Bank of New Zealand, through two new ringfenced structures, for NZCF’s acquisition of more land to establish forests for carbon sequestration. This was Rabobank’s first “green loan” in New Zealand.
Hawke’s Bay Airport
We advised ASB on its first-ever sustainability-linked loan, when it provided $23 million of sustainability-linked funding to Hawkes Bay Airport. Hawkes Bay Airport will use this loan to finance its terminal upgrade in line with its sustainability initiatives, with a major solar farm project next to the airport’s runway also being progressed.
Sustainable Agribusiness Loans
We advised Westpac on the development of its Sustainable Agribusiness Loan product. The loans are designed to support farmers who are committed to improving their on-farm sustainability practices.