Quarterly update April 2024
The first quarter of 2024 was a strong start in sustainable finance for CSF and our partners, and we’d like to share some highlights with you.
We’d like to acknowledge the passing of Rod Oram, journalist and climate advocate, whose inquisitive nature and deep investigations into climate challenges and solutions will be missed.
Welcome LGFA
We are pleased to welcome the Local Government Funding Authority to CSF as an Associate Partner. LGFA specialises in financing the New Zealand local government sector, seeking to continuously improve its sustainability outcomes as well as assisting the local government sector in achieving their sustainability and climate change objectives. Read more here.
Why aren’t KiwiSaver funds investing in private assets?
The majority of KiwiSaver investors have long investment horizons (20 years +), but they have little option to take advantage of this by way of investing in private markets. We commissioned a joint legal opinion from CSF partners MinterEllisonRuddWatts and Chapman Tripp to understand if there are regulatory and legislative barriers to this type of investment. The answer? Both yes and no. Read more here.
Climate Change Minister invites recommendations on a Green Taxonomy
We are working with the Government to advance a sustainable finance taxonomy for Aotearoa New Zealand. In a recent webinar with Minister for Climate Change Hon Simon Watts, we heard from the Climate Bonds Initiative, GFANZ, ASFI and CSF partners about what a green taxonomy means for NZ. Find out how you can be involved, and watch the highlights from the webinar here.
NZ investors build capacity for engagement
The Aotearoa New Zealand Stewardship Code, supported by CSF and RIAA, recently partnered with INFINZ on a ‘Stewardship in Practice’ event and hosted a Stewardship Reporting Masterclass for Signatories. The Stewardship Code secretariat continues to identify opportunities for increased transparency and raise awareness of the benefits of leading investor stewardship practices among policy makers, regulators, asset owners and managers. A summary of signatory reporting on stewardship and collaborative engagements will be available in New Zealand mid-2024. Read more.
Trans-Tasman partnership fosters systemic approach to financial resilience
The Thriving Aotearoa Partnership, which was incubated by CSF partners and several seed funders, is now established as Thriving Communities Aotearoa. The aim is to be a trans-Tasman sister organisation with Thriving Communities Australia. Thriving Communities Aotearoa is a place for corporations, communities, and supporters to strategically collaborate to ensure all New Zealanders can achieve financial resilience. The partnership is open to new members. If enabling financial inclusion and resilience is a priority for your organisation, we encourage you to learn more about how to become a supporter and member. Please get in touch via thrivingaotearoa.org.nz
What’s caught our attention recently
RNZ Nine to Noon “NZ could be more ambitious on emissions targets” with Kathryn Ryan and Rod Carr [podcast link]
“The infrastructure commission has estimated NZ’s potential to generate renewable electricity is three times what we’re likely to need this century…but having the potential doesn’t give you the electrons. You need the money, the kit, and the people with the boots on the ground.” (Rod Carr).
Newsroom “Five key takeaways from new Climate Change Commission Reports”
Good Returns “NZ scopes a green taxonomy to provide a common language on sustainable finance”
RBNZ bulletin “The use of credit risk weights for climate related purposes”
Green Finance Institute “Green Finance Quarterly”
EY “Oceania Climate Change and Sustainability Services (CCaSS) Quarterly Sustainable Finance newsletter”
Upcoming events
Register for the Green Taxonomy Design Feedback Webinars:
Monday, April 22, 12pm - 1pm: Jo Kelly, Matteo Bigoni and ITAG members share the ITAG’s draft recommendations on a green taxonomy for Aotearoa New Zealand. Register here.
Tuesday, April 30, 12pm - 1pm: This is a feedback session moderated by Jo Kelly and ITAG members on the ITAG’s draft recommendations for a green taxonomy for Aotearoa New Zealand. We welcome your engagement. Register here.
CSF Online Drop in sessions
Monday 6 May 12pm - 12:30pm - Drop into this session and learn about key developments in sustainable finance, including the Centre’s Taxonomy work. Register here.
MFAT is calling on NZ companies and investors interested in collaboration in the climate tech sector. On 5-6 June, Singapore is hosting an inaugural event where a select number of climate tech companies and investors from 14 countries will come together to discuss potential partnerships. Applications are open. Investors and companies interested in participating can email ipef@mfat.govt.nz. Links to more information here: Applications open for the Indo-Pacific Climate Tech 100, connecting leading startups with 100 global investors (holoniq.com).www.ipefinvestorforum.org