Sustainable finance is becoming increasingly important to both financiers and borrowers. We are excited to partner with you for good.
Banking and financial institutions play a lead role in promoting sustainability and environmental, social, and governance (ESG) principles. Our banking and finance team is at the forefront of the high-growth area of sustainable finance products and services.
We have acted on numerous ESG-linked financings, including the first sustainability-linked loan in NZ, the first ESG Public Private Partnership (PPP), and the first ESG loan in the professional services industry. We have also been appointed as advisers to New Zealand Green Investment Finance Limited, the green investment bank established by the Government to accelerate investment to enable New Zealand’s low carbon future.
Actively involved in shaping the future of sustainable finance in New Zealand, we also participate in industry groups. We have partnered with Toitū Tahua, the Centre for Sustainable Finance, in its quest to leverage the power and resources of the financial industry for an equitable, inclusive, and thriving low-emissions economy. Our firm helped with the establishment of Toitū Tahua and provides ongoing legal advice to the Centre and some of its implementation groups. Our firm is also represented on the Asia Pacific Loan Markets Association Green and Sustainable Loan Committee. Partner Lloyd Kavanagh is a member of the Financial Services Council Sustainable Investment Working Group.
Our team advises on all forms of sustainable finance including sustainability-linked loans, social loans and green loans as well as green bonds and social bonds.
MinterEllisonRuddWatts…[o]ffers local expertise in novel financial arrangements such as ESG-linked loans.
Chambers Asia-Pacific 2022
Acting for Synlait Milk Limited and its related entities in connection with its entry into an ESG linked loan with ANZ Bank New Zealand Limited. This was the first ESG loan in New Zealand.
Advising a syndicate of banks on all aspects of the refinancing (incorporating scope for the provision of additional financing for school expansions) in relation to New Zealand Schools PPP 3, which manages five NZ schools. This transaction was the first New Zealand PPP to introduce sustainability requirements and impact reporting metrics.
Advising Deloitte on its sustainability-linked loan provided by BNZ – a first in the professional services industry in New Zealand.
Advising Westpac New Zealand on the $125 million Social Loan signed with Te Pūkenga, where the funds are to be used for social activities that meet the “Social Loan Principles”. This was the first Social Loan in Australasia and potentially the first in the world.
Advising a major international commodity trader financing a counterparty to purchase forestry assets which will produce a stream of carbon credits eligible under the New Zealand Emissions Trading Scheme.
Assisting New Zealand Green Investment Fund with its debt and equity investment transactions. This included a combined debt and equity investment in low emissions vehicle advisory and financing business, Carbn Group, and facilities provided to ‘solar-as-a-service’ provider solarZero for its residential, commercial, and public sector initiatives.
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