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Summary
- New Zealand’s Sustainable Finance Forum (SFF) is out to ensure a shift to a financial system that supports sustainable economic, environmental and social well-being.
- New Zealand Green Investment Finance (NZGIF) is a green investment bank, set up to help in reducing the greenhouse gas emissions.
- NZGIF has invested $5.8 million in Carbn Group towards minimising New Zealand’s vehicle fleet emissions.
- An investment in Thinxtra has also been made to leverage IoT network and services towards a green and clean environment.
- A credit facility of $15 million has also been granted to CentrePort to accelerate the low carbon projects.
The latest report by Aotearoa New Zealand’s Sustainable Finance Forum (SFF), representing the collective initiatives of the SFF undertaken from January last year to November 2020, is grabbing headlines lately. The report sets out priorities and themes with recommendations to ensure a shift to a financial system that supports sustainable economic, environmental and social well-being
In view of the sustainable finance agenda, New Zealand Green Investment Finance (NZGIF) deserves closer attention. NZGIF is a green investment bank which was established by the Crown with the primary purpose to boost the investments that help in reducing the greenhouse gas emissions in New Zealand. Notably, green investment banks have been set up around the world to channelise private investment towards environmental projects.
Capable management
The bank has well qualified and vastly experienced personnel at the key management roles, helping the bank to perform its key roles efficiently.
NZGIF’s Chief executive Craig Weise has a vast experience of 25 years in private capital markets, both in the US and NZ. His qualification and expertise in the financial services, law and investment banking makes him an ideal “sailor of the ship”.
NZGIF’s Chief Investment Officer, Jason Patrick had worked as a Managing Director of Real Options International, Managing Director of the BioCarbon Group, established by Macquarie and also a Vice President at Bank of America Merrill Lynch.
NZGIF invests in Carbn Group to increase the adoption of low emission vehicles
Last month in October, the bank informed about its $5.8 million investment in Carbn Group. Carbn Group is the parent company of two distinct subsidiaries which have been established to address the capability and knowledge gaps in the market for specialist low emissions vehicle transition.
Carbn Asset Management aims to provide fleet optimisation services, assist fleet managers in reducing and optimising the fleet size and helping them to switch to low emissions vehicles.
Sustainable Fleet Finance Limited has expertise in the economics of electric vehicles and helps to finance low emissions vehicles
After collaborating, these entities will operate independently to minimise New Zealand’s vehicle fleet emissions.
NZGIF invests in Thinxtra to save carbon in businesses and homes
Thinxtra is a leading IoT network and service provider, operating across Australia, New Zealand and Hong Kong. The company aims to deliver technology that helps in improved efficiency and asset utilisation, with clear carbon benefits.
The company believes that IoT can provide an innovative and significant opportunity to reduce carbon emissions. It is also supporting many New Zealand-based companies to support their initiatives.
NZGIF provides green credit facility of $15 million to CentrePort
CentrePort’s low carbon regeneration programme has been boosted by a green credit facility of $15 million provided by NZGIF. This deal is considered to be significant towards long term low carbon emission.
This facility will provide necessary finance to accelerate the low carbon projects with sufficient capital to ensure their priority work. The funds would be used towards on-site renewable energy generation, the introduction of electric vehicles and energy-efficient upgrades.
