Westpac is the first Aotearoa bank to raise wholesale funding through a green bond.
- Westpac NZ (and other banks) lends money to customers to invest into their homes and businesses. These funds come from either deposits from other customers or by issuing bonds to investors.
- Green bonds are a type of bond issued exclusively to fund projects with positive environmental and/or climate impacts.
- Issuing green bonds to international investors supports Westpac's sustainable lending targets and utilises a growing global appetite for sustainable investment products.
- Connecting climate-conscious investors with sustainable projects supports investment into climate change solutions and contributes towards a more sustainable financial system overall.
- We want to support our customers to transition to more sustainable business models, and direct more capital towards assets and outcomes to build a better future for all of Aotearoa.
To achieve this, Westpac expanded its Sustainable Finance function in Aotearoa.