Kiwibank Sustainability Report 2024
In our FY24 Sustainability Report we describe our progress towards our Purpose and Sustainability Goals, as well as other sustainability topics.
Running a purpose-led business for our people & communities
B Corp certified
Our B Corp certification means we’re doing the right thing when it comes to our people, customers, suppliers, community and environment.
Building diversity, equity and inclusion
We're proud of our efforts to drive diversity, inclusion and equity which includes having the Gender Tick and being a Living Wage Employer.
Extending the life of our business waste
We work within communities to reuse and extend the life of resources that are no longer required or used at Kiwibank. This includes devices, furniture and our Kiwibank Wardrobe.
Responsible business banking
Our Kiwibank Responsible Business Banking policy outlines the industries and businesses we won't do business with and highlights our commitment to protecting the best interests of Kiwi and our environment.
Supplier expectations
We want to work with suppliers who share our commitment to behaving responsibly, ethically and sustainably. We expect suppliers to adhere to the Kiwibank Supplier Code of Conduct and to deliver great outcomes for our business and customers.
Impact of our cards
We're Aotearoa's first bank to use recycled plastic in all our cards. That's more than 2,000kgs plastic waste being recycled into our cards per year. Our newly designed cards have increased accessibility to help people with different abilities.
Improving our environmental impact
Kiwibank's emissions fall into the categories of power, travel, paper and waste. Our carbon emission targets are set until 2025. We monitor these regularly and report on our reductions annually.
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1Tahi
Reducing electricity usage
Both our head offices in Wellington and Auckland are Green Star rated and we install LED lighting into all our Kiwibank branches and contact centres.
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2Rua
Reducing our waste
We've changed our quick deposit bags from plastic to paper removing over 80,000 single use plastic bags per year from circulation and changed our envelope material to 100% paper based. We also compost in our head office sites.
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3Toru
Improving our fleet & travel
We're in the process of changing all our fleet to electric vehicles. And our teams have set carbon travel budgets to help them reduce their total travel by 15% by 2025.
Responding to the climate challenge
We're working to understand the impact climate change will have on our business and customers, and developing strategies to manage it.
Our 2024 Climate Statement reports in detail on the work we’re doing to understand and prepare for the potential impacts of climate change.
Our climate readiness work is guided by our Purpose of Kiwi making Kiwi better off.
It is also built around two specific objectives:
- Building our own climate resilience so we can continue to deliver on our Purpose
- Understanding the emerging needs of our customers as they transition to a low-emissions, climate-resilient future, so we know how best to support them.
Our 2024 Climate Statement details:
- The current impacts of climate change to our business
- The climate risks and opportunities we’ve identified for Kiwibank, and their potential impacts
- Our process for identifying climate risks and opportunities, including climate scenario analysis
- Our climate-related governance framework
- Our tools and methods for managing climate risks
- Metrics we use to monitor climate risks and opportunities
- Targets we use to measure and manage our climate change response.
During 2025, we'll develop our first climate transition plan, which we'll share in our 2025 Climate Statement. Our climate transition plan is the part of our overall strategy that will be focused on transitioning Kiwibank to a low-emissions, climate-resilient future. Two key pieces of work that will inform our transition plan are:
- Measuring the emissions we enable through our lending (our financed emissions)
- Assessing the potential financial impacts of climate change to Kiwibank, if the climate risks and opportunities we’ve identified actually crystallise.
We look forward to reporting annually on our progress.
Enabling our customers to be more sustainable
Sustainable business loans
To help your business achieve sustainable outcomes, we provide a preferential interest rate on business loans if the loan is for an approved sustainable purpose.
Cogo Business Carbon Manager
We've partnered with sustainability fintech Cogo to enable qualifying businesses to easily measure and understand their carbon footprint.
Sustainable energy loans
Available to home loan customers who want to install eligible sustainable energy systems in their homes.
Read our Sustainability Reports
Our Sustainability Reports outline our performance each year against our Purpose and Sustainability Goals, and how we're working to make tamariki, Aotearoa and Kiwi better off.
Get in touch with our team
Email us
If you’d like more information about our sustainability work or have ideas on how we can improve, email sustainability.kb@kiwibank.co.nz and we'll be in touch.