Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

Auckland Council exploring Green Bonds

Auckland Council exploring Green Bonds


Auckland Council is considering the issue of NZD Green Bonds later in this year


Auckland Council intends to be the first council in New Zealand to establish a Green Bond framework and to consider the issue of NZD Green Bonds later in 2018 as it looks to significantly invest in infrastructure to lower emissions and adapt to climate change.

Green Bonds are vehicles for raising funds which are invested in assets and projects which have positive environmental and sustainability impacts. This form of bonds allows Auckland Council to diversify the pool of funds available by tapping into investors who wish to fund ‘green’ infrastructure assets and projects, who otherwise might not invest in infrastructure.

Mayor Phil Goff says, “We are investing significantly in our water infrastructure, to clean up our harbours and waterways, and in public transport infrastructure to reduce emissions and decongest our roads. These projects are an attractive investment opportunity for investors who are allocating larger segments of their portfolios to climate change and green investment activities”.

“We aim to be the first council in New Zealand to set up a Green Bond framework and by tapping into new investment sources we can look to deliver projects in our city quickly from a diverse range of funds.”

“We need to invest billions of dollars in Auckland’s infrastructure over the coming decade. That includes focusing on projects which make Auckland greener and adapting to climate change. It makes sense to leverage the strong investor demand for green bonds to assist us with funding these projects,” Mayor Goff says.

Finance and Performance Committee Chair, Councillor Ross Clow, says, “Auckland’s investments in low emissions infrastructure and resilient water infrastructure projects is an opportunity for Green Bond financing”.

“These initiatives demonstrate Auckland’s commitment to sustainability and leadership in promoting the development of the Green Bond market in New Zealand.

“Additionally, we know that there is strong investor demand for Green Bonds with their global issuance projected to reach $250bn in 2018,” Councillor Clow says.

In establishing a Green Bond framework, Auckland will join other C40 Cities Toronto, Johannesburg and Mexico City that are leading the way in green financing.

Auckland Council’s 10-year Budget and the Auckland Plan 2050 both recognise the importance of protecting and enhancing the natural environment for Aucklanders, and this is a further step towards that goal.

No money is currently being sought and Green Bonds cannot currently be applied for under any potential offer. If an offer is made, it will be made in accordance with the Financial Markets Conduct Act 2013.

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Dealing Crackdown, Addiction Support: Government Action On Synthetics

The NZ Drug Foundation has welcomed the Government’s response to synthetic drug deaths. The response strikes a balance between giving law enforcement the tools they need to target criminal networks and changing drug law to make it easier for people to access help when they need it. More>>

ALSO:

Strategy Committee Unanimous: Wellington To Forge Ahead With Convention Centre

The three-storey Cable Street building, with around 18,000-square metres of floor space, will comfortably be able to host 1500 people for conventions. It includes a 1651sq m exhibition area that will attract international exhibitions too big for nearby Te Papa and provide an always-changing visitor attraction. More>>

ALSO:

Surveying The Surveillance: First IGIS Review Of Warrants Under New Act

The report sets out the Inspector-General’s interpretation of the new warrant provisions under the ISA and her expectations of the GCSB and NZSIS when they prepare warrant applications. More>>

SSC: 2018 Public Service Workforce Data Published

State Services Commissioner Peter Hughes has published the 2018 Our People, Public Service Workforce Data , which shows the Public Service is making significant progress in important areas. More>>

ALSO:

Sinking Cap: Auctions, Permanent Forests, Added To ETS

The move to auctions, signalled in an August consultation paper, will help put a cap on the number of emission units available over time. Annual announcements, looking forward five years, will help provide certainty for scheme participants, she said. More>>

ALSO:

Joint Select Committee Report: Achieving Smokefree 2025

In a historic first for select committees, the Māori Affairs Committee and the Health Committee presented their joint report on achieving the Smokefree 2025 goal to the House on Tuesday, 11 December 2018. More>>

"Shared Interests And Democratic Values": Peters To Visit USA

Deputy Prime Minister and Foreign Affairs Minister Winston Peters will travel to Washington D.C. for talks with US Secretary of State Michael R. Pompeo and other senior members of the US Administration. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels