Bank of New Zealand is Carbon Neutral

Media Release
For immediate release
30 September, 2010

Bank of New Zealand is Carbon Neutral

In March 2007 Bank of New Zealand announced its commitment to become carbon neutral by 30 September 2010.

After a three year journey BNZ has kept this promise and has been operating on a carbon neutral basis since 1 July 2010, ahead of schedule.

“We’re already marking three months of being carbon neutral and are delighted to be the first New Zealand bank to achieve this vital environmental milestone,” says Stephen Mockett, BNZ Chief Operating Officer.

“Protecting the environment is a global concern and achieving carbon neutrality means we can make a real contribution to support the growing momentum to reduce carbon emissions nationally and globally.”

BNZ has achieved carbon neutrality by taking steps to reduce our emissions through greater energy and vehicle efficiency, encouraging change in employee behaviour at work and at home, and through offsetting unavoidable emissions by purchasing quality carbon offsets.  

The procurement process involved a review of international offset standards, comprehensive market analysis and evaluation of offset projects globally.  

The rigorous process of offset verification has involved BNZ gaining external assurance from KPMG, over its greenhouse gas emissions and offset data underlying the BNZ’s, and the broader National Australia Bank ’s carbon neutral commitment.

“KPMG is pleased to have been involved in supporting BNZ in its commitment to be carbon neutral.  We recognise this is a key milestone for BNZ and are proud to be involved in supporting their efforts in responding to the issues associated with climate change” says KPMG Sustainability Director, Jamie Sinclair.

“We’re in the process of sourcing quality NZ credits for our future carbon liabilities,” says Duncan Southwell of BNZ Client Solutions and Advisory Team.  

“Having locally sourced credits will support both our carbon reducing strategy and the emerging New Zealand carbon market” says Southwell.

BNZ now occupies three 5-star green rated corporate buildings and was the largest New Zealand workplace to achieve Fairtrade Accreditation in May of this year.

Ends

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