Listed New Zealand company Contact Energy Ltd (CEN) has gained Climate Bonds Certification of geothermal assets as part of its new Green Loan Borrowing Programme for NZD1.8 billion (USD1.3 billion).
This is the first Climate Bonds Certification gained by a New Zealand company. In a statement lodged with the NZX, the company advised its Green Borrowing Programme Framework had been developed to align with the GBP and announced Climate Bonds Initiative Certification under Standard V2.1. Independent assurance has been provided by EY.
Dennis Barnes, Contact Chief Executive, says: “Our Green Borrowing Programme is a first for a New Zealand corporate and enables debt investors and lenders to access a broad range of certified green debt instruments issued by a New Zealand company.”
Louise Tong Contact Head of Capital Markets & Tax, says: “Businesses and capital markets both have an important role to play in the shift to a low carbon economy and our Green Borrowing Programme links these two elements together.
“Contact’s Programme plays an important role in developing opportunities for lenders and investors globally who are seeking certified green investments in New Zealand.”
Katharine Tapley, Head of Sustainable Finance at ANZ, says: “ANZ is delighted to have assisted Contact with creation of a green borrowing programme. Their debt investors and lenders now have exposure to a wide range of green certified debt instruments that fund low carbon activity and align to New Zealand’s commitments towards achieving the goals of the Paris Agreement. That’s a first, and we applaud them.”
Sean Kidney (pictured), CEO Climate Bonds Initiative, says: “This NZD1.8 billion (USD1.3 billion) Green Borrowing Programme from Contact Energy includes one of our single largest Certifications to date and is a significant global boost for best practice standards in green finance. They are demonstrating the kind of corporate leadership on green finance we need to see replicated, both in Trans-Tasman capital markets and internationally, by more listed companies.”