|Date joined:||17 June, 2021|
|Subsidiary of:||National Australia Bank Limited|
|Initiatives:||Net Zero Banking Alliance and Principles for Responsible Banking|
Bank of New Zealand (BNZ) was founded in 1861 and is committed to serving its customers well and helping New Zealand communities prosper.
BNZ employs around 5,000 people to help its 1.2 million customers across the country. The bank has more than 130 branches and 33 Partners business centres across New Zealand, and works with personal, business, agri, charity and private wealth clients offering services in retail, small business, commercial, corporate, agribusiness, institutional and investment, and insurance.
BNZ is one of New Zealand’s largest carbon neutral companies and works to help make New Zealand’s communities stronger. Bank of New Zealand is a subsidiary of the National Australia Bank Group of companies, and is governed locally by a fully empowered New Zealand Board of Directors.
Summary of sustainability strategy
Over the last 12- 18 months BNZ has been actively reviewing the positive impact they can have on society. BNZ are transforming what they stand for and the change they are committed to leading with a revitalised Sustainability Strategy. The ambition of their Sustainability Strategy is to ‘build a resilient, regenerative and inclusive Aotearoa, for the long term’.
BNZ strategic vision has two core pillars:
• Kaitiakitanga to accelerate the just transition to a low-emissions economy that supports the regeneration of the natural environment and
• Manaakitanga to grow the long-term social and financial wellbeing of all New Zealanders.
BNZ have made a number of commitments under these two pillars including cutting their operational emissions by 60% by 2025, a commitment to $10 Billion in Sustainable Finance by 2025 and driving social and financial inclusion and wellbeing through their good loans and financial inclusion programme of work.
Further information on their strategy, key targets and initiatives can be found in their FY20 sustainability Report – Sustainability – BNZ