ANZ Bank awarded for Green Borrowing Program for Contact Energy in NZ

Wairakei geothermal facilities, Taupo/ New Zealand (source: Contact Energy)
Alexander Richter 22 May 2018

The Sustainable Finance Team of New Zealand-based ANZ Bank has won an institutional banking innovation award for its green borrowing programme for Contact Energy, allowing it to link debt to geothermal assets, the first Climate Bond certification.

In a post on its LinkedIn, the team of Contact Energy congratulates the Sustainable Finance Team of ANZ Bank in New Zealand.

The team last week won the INFINZ Business Institutional Banking Innovation Award for their work on Contact’s Green Borrowing Programme for Contact Energy. The Sustainable Finance Team of the bank innovatively developed a corporate debt package.

Under the Green Borrowing Programme, ANZ helped Contact green certify all the utility’s debt by linking it to its renewable geothermal assets, the first such Climate Bond certification in New Zealand.

This means all existing and new debt raised from now on will be used to fund projects that have positive environmental and climate benefits, giving investors the assurance that their money is being used for a good cause. Over 80% of Contact’s electricity is produced from renewable sources, and with additional green funding streams like this at our disposal, we’re looking to lift that even further.

Source: Contact Energy via LinkedIn