Kiwibank wins big at Sustainable Business Awards

21 November 2013

Kiwibank wins big at the NZI National Sustainable Business Network Awards

A Kiwibank and Nga Tangata Microfinance Trust initiative has been named the overall winner of the NZI National Sustainable Business Network Awards held at the Auckland Museum today (21 November).

The NZI Sustainable Business Network (SBN) Awards are New Zealand’s longest-standing and pre-eminent sustainability awards. The awards are now in their 10th year and have been restructured this year to better recognise businesses that are making a real difference by transforming New Zealand’s business landscape.

“SBN is focussing on four transformation areas that encapsulate the future direction of our economy. These are areas New Zealand has a natural advantage in and include renewables, mega efficiency, community and restorative,” says Rachel Brown, Sustainable Business Network Chief Executive. 

“The Awards recognise the impact and innovation organisations are making in each of these transformation areas, in addition to awards for Communicating Sustainability and a Sustainability Champion.

“The finalists and winners are responding to the many issues facing businesses, communities and the planet today. They are re-thinking business models, products and services and using a social and environmental lens to create a platform for change,” says Ms Brown. Kiwibank in collaboration with Nga Tangata Microfinance Trust won the Community Innovation Award and also won the overall award for ‘Greatest Contribution to a Sustainable New Zealand’ by addressing a critical issue which is about breaking the poverty cycle.

During the last two years, Kiwibank has supported Nga Tangata Microfinance Trust, the first microfinance initiative in New Zealand. This programme addresses the causes of poverty and helps bring people in low-income areas out of debt.    The initiative, which reduces the impact and appeal of loan sharks in low-income areas,  is a partnership of Child Poverty Action Group, NZ Federation of Family Budgeting Services, and the NZ Council of Christian Social Services.

Kiwibank provides Nga Tangata with the capital to make small, safe and fair loans (of $2000 to $3000) to households in South Auckland. Loans are directed to responsible, asset-building purposes such as education, family wellbeing, and essential home goods. Kiwibank also provided essential business support and advice to set up the programme, and is currently the only bank in New Zealand supporting microfinance initiatives.

Recipients of loans have been able to repair vehicles needed to get to work or transport family, to secure accommodation, and to reduce interest costs. Those assisted also received support to increase their own financial literacy and manage their spending. Now in its third year, Nga Tangata is extending its services from Auckland to the Waikato region.

Ms Brown says “The Kiwibank/Nga Tangata initiative stood out to the judges because of the collaborative nature of the project, which ensures a genuine knowledge and understanding of the causes of poverty. It’s directly addressing these causes, as opposed to supporting initiatives that simply look at the symptoms or stop gaps.

The judges also felt that Kiwibank has taken on board this initiative out of a genuine desire to address poverty, rather than simply for commercial benefit.”

The full results of the awards announced today include:

Sustainability Champion Award – Winner Sam Judd, Sustainable Coastlines

Communicating Sustainability Award –The Nappy Lady. Highly commended Wanaka Wastebusters

Community Innovation Award – Kiwibank / Nga Tangata Microfinance Trust

Community Impact Award –Turning Trash into Treasure

Mega efficiency Innovation Award –New World  Supermarket, Newlands & Foodstuffs NZ. Highly commended - Ooooby

Mega efficiency Impact Award –AUT University. Highly commended Soar Printing

Renewables Innovation Award  - Vector Ltd. Highly commended Progressive Group – Wood Weta

Renewables Impact Award –Yealands Estate Wines. Highly commended - EnaSolar

Restorative Innovation Award –BioBrew Ltd

Restorative Impact Award –The Farm Butchery

Energy management Award –Yealands Estate Wines. Highly commended Auckland War Memorial Museum and AUT University

NZI Greatest Contribution to a Sustainable New Zealand (Supreme Award) – Kiwibank / Nga Tangata Microfinance Trust

ENDS

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