Following the success of reinjecting carbon emissions from the Ngāwhā geothermal power stations, Top Energy has sufficient eligible assets to convert all lending facilities into Green Loans.
Westpac New Zealand Limited (Westpac) was appointed as sole Sustainability Coordinator for the development of the Green Finance Framework which aligns with the APLMA/LMA/LSTA Green Loan Principles and ICMA Green Bond Principles.
A green loan is a type of loan specifically designed to fund projects or investments that have clear environmental benefits.
The eligibility criteria for the Green Loans include Renewable Energy—Electrical Grids and Storage—and Renewable Energy—Generation.
Top Energy will show that it continues to meet the criteria through annual certification.
Establishment of the Framework is part of the wider commitment to sustainability as reported in Annual Sustainability Reports over the last three years.
Being able to achieve 100% Green Loans is a testament to the relationships with the wider lender panel, consisting of ANZ, BNZ, Bank of China, CCB, ICBC, and Westpac.