Hawke’s Bay Airport aims for sustainability

A $23 million sustainability linked loan for Hawke’s Bay Airport uses ASB funds allocated under the Reserve Bank’s Funding for Lending (FLP) programme which the bank has committed to using to support projects that meet sustainability or regional infrastructure criteria.

It’s working on numerous carbon and waste reduction initiatives, including a pledge to reach zero emissions by 2030, and progressing the next steps of a major solar farm next to the runway, airport chief executive Stuart Ainslie says.

He says partnering with ASB to access FLP funds will allow the airport to continue its ambitious programme of sustainability work critical to its future success.

“It’s vital that Hawke’s Bay Airport continues on its drive towards sustainability leadership, a focus that is intrinsic to our businesses success moving forward,” says Ainslie.

Sustainability linked loans (SLLs) require the borrower to commit to key environmental, social and/or governance (ESG) targets, with borrowing costs adjusted based on their performance against these targets.

“Being ASB’s first SLL partner reflects confidence in our banking partner and our overall vision and strategic plan,” Hawke’s Bay Airport chief financial officer Rachel Orchard says.  

ASB executive general manager for Corporate Banking Nigel Annett says sustainability will only become more critical for customers, and for ASB.

“We are committed to working alongside our customers to help them transition to a low emissions economy,” he adds.

“Hawke’s Bay Airport is showing real leadership in holding themselves to account for ambitious targets.”

Annett says ASB is committed to playing its part in mobilising capital to help grow a greener economy – which aligns to the Climate Change Commission’s view on the critical role of New Zealand’s financial sector.

ASB’s own sustainability goals include maintaining Toitu carbon zero certification, with science-aligned targets to reduce operational emissions in line with the Paris Agreement.

A redeveloped terminal opening soon at Hawke’s Bay Airport is expected to include EV charging stations, and LED or solar lighting in the carpark, while the airport has electric and hybrid vehicles in its fleet and a bicycle hub.