ASB Officially Endorsed As Carbon Zero

Monday, 18 May 2020, 9:16 am
Press Release: ASB Bank

ASB has achieved a major step towards its climate goals, by achieving carboNZero certification from Toitu Envirocare.

The certification validates ASB’s plan to reduce its carbon emissions in line with international targets. Remaining emissions are offset with high-quality carbon credits sourced from sustainable projects in New Zealand and around the world – making its operations carbon neutral overall.

ASB head of Corporate Responsibility Miranda James says the team was hugely proud to receive the recognition, which follows a year of hard work to improve ASB’s emissions management.

“It’s great to achieve carboNZero, which is down to solid teamwork across the organisation. Our drive to reduce our climate impact won’t be slowing down. Our goal is to minimise emissions as much as we practically can, in line with the Paris Agreement,” says James.

Toitu Envirocare provided valuable technical guidance, as well as assurance that ASB’s climate plans were robust, with a solid scientific basis. Toitu chief executive Becky Lloyd says the certification is a significant step.

“We congratulate ASB on achieving Toitū carboNZero certification. In doing so, ASB has committed to ongoing climate change action,” says Lloyd.

“Such meaningful leadership on climate change is essential if we are going to achieve our net-zero 2050 goals. Toitū carboNZero certification means ASB’s customers and stakeholders can rest assured that the organisation’s emissions are third-party verified and offset with high quality carbon credits,” adds Lloyd.

ASB’s annual carbon footprint was 6,319 tonnes of greenhouse gases in 2019, with the majority of emissions coming from three sources: road travel, flights and energy use in buildings. ASB’s science-based targets and emissions management plans, cover all aspects of its operations.

ASB chief executive Vittoria Shortt says the commitment to tackle climate change stemmed from ASB’s Board of Directors, through the executive team and all levels of the organisation.

“Climate change is a pressing global priority, and ASB is committed to playing a positive role to address it,” says Shortt.

“Our customers also tell us that climate change and the environment are issues they care deeply about. We’re thrilled to get recognition of our hard work via carboNZero, and we will be doing more to support the transition to a climate-resilient, low carbon economy,” concludes Shortt.

ASB’s annual carbon footprint has been offset with gold-standard certified carbon credits, sourced from a variety of projects that store, avoid or reduce greenhouse gas emissions.

These projects include restoring New Zealand native forest at Puhi Peaks Station NZ. Credits are also sourced from reputable projects in developing countries, aligned with the UN Sustainable Development Goals. These include providing low-carbon cook stoves in Ghana and supporting renewable energy projects such as wind and hydro in China and India.

To find out more, please visit www.asb.co.nz

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