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ASB in banking on Counties Energy to deliver sustainable solutions. By taking on a Sustainability-Linked Loan (SLL), the power provider has committed to meeting key environmental and community targets.
“As trusted guardians of essential infrastructure, we have a responsibility to make
decisions that create positive long-term outcomes,” Counties Energy’s chief financial officer, Lorne Peters, explains.
“We are pleased to partner with ASB, reflecting our commitment to embedding sustainability in the way in which we operate.”
While reducing emissions the Pukekohe-based electricity company will also introduce an employee community volunteering programme and strengthen support for customer decarbonisation.
As part of the SLL, the company is also overseeing the Franklin Energy Sharing pilot programme, which explores how solar energy and battery storage can be shared locally to support families who are experiencing energy hardship.
Counties Energy has met the brief, ASB’s head of sustainable finance, James Paterson, believes.
“Counties Energy is actively innovating with a future focus in mind to help shape a low carbon, electrified New Zealand,” he says.
“This deal is a reflection of its long-term thinking and leadership in energy resilience
and commitment to environmental outcomes.”
Sustainable business is good business, it seems.
“It’s important that sustainable finance supports both a company’s business and sustainability objectives,” Paterson adds.
“We can talk through industry benchmarks and emerging fields that investors
are looking for such as adaption, resilience, nature and social targets. We think of
ourselves as an intermediary as well as a capital provider in that space.”
