AUCKLAND: Kiwi Property today launched a Sustainable Debt programme, the latest initiative in the Company’s comprehensive carbon reduction strategy, a news release said.
“Kiwi Property has been committed to sustainability for almost two decades and today it’s part of the company’s DNA. In 2020 we successfully achieved a 50% reduction in greenhouse gas emissions, compared to our 2012 baseline and we’re proud to have been awarded an A rating by the Carbon Disclosure Project,” says Chief Financial Officer, Gavin Parker.
“By decreasing our resource consumption, investing in the prosperity of our communities and ensuring the resilience of our assets, we not only encourage the long-term performance of our property portfolio, we also drive sustainable returns for our investors,” says Parker.
Details of Kiwi Property’s approach to the use of Sustainable Debt are outlined in the Company’s new Sustainable Debt Framework which outlines the governance framework which will apply to Sustainable Debt issued by Kiwi Property, including the Company’s existing NZX-listed bonds (KPG010, KPG020, KPG030, and KPG040), which will be designated as Green Bonds from 31 March 2021.
An amount equal to the proceeds from the issuance of Green Bonds or Loans will be allocated to finance or refinance qualifying planned and/or existing low carbon buildings.
Kiwi Property also released to NZX a copy of its Sustainable Debt Framework, the Use of Proceeds Report and EY’s Assurance Statement today.