Formats
Introduction#
The New Zealand Government initially issued a green bond in November 2022 and subsequently had additional issuances on the same bond. Till June 2024 (the “2022 Green Bond”), NZD 6.39 billion was raised to finance and refinance climate change mitigation, environmental and biodiversity protection and restoration projects. In November 2024, the New Zealand Government engaged Sustainalytics to review the projects financed with proceeds from the 2022 Green Bond (the “Nominated Expenditures”) and provide an assessment as to whether they meet the use of proceeds criteria and whether the New Zealand Government complied with the reporting commitments in the New Zealand Sovereign Green Bond Framework (the “Framework”).[1] Sustainalytics provided a Second-Party Opinion (SPO) on the Framework in August 2022.[2] Sustainalytics provided the updated SPO in November 2024.[3] This is Sustainalytics’ second annual review of allocation and reporting of the instruments issued under the Framework, following a previous review in November 2023.[4]
Notes
- [1] New Zealand Government, “New Zealand Sovereign Green Bond Framework”, (2022).
- [2] Sustainalytics, “Second-Party Opinion, New Zealand Sovereign Green Bond Framework”, (2022).
- [3] Sustainalytics, “Second-Party Opinion, New Zealand Sovereign Green Bond Framework”, (2024).
- [4] Sustainalytics, “Annual Review, New Zealand Government”, (2023).