New Zealand green bonds and infrastructure

This report by the Climate Bonds Initiative analyzes the state of green bonds and sustainable infrastructure in New Zealand as of August 2019. It details the country's climate policy landscape, the growth of its green debt market, and identifies investment opportunities across five key sectors: renewable energy, low-carbon transport, sustainable water management, sustainable waste management, and green buildings.

• New Zealand's green and sustainability debt reached NZD3.7bn, with the market expanding through new issuers such as Argosy Property and Westpac New Zealand. The market includes a mix of green bonds and the first-ever sustainability bond from Housing New Zealand, which focuses on social, green, and affordable housing.
• The New Zealand government has implemented several high-ambition climate policies, including the Zero Carbon Bill 2019 to cut net emissions to zero by 2050 and a 2018 ban on new offshore oil and gas drilling exploration.
• Renewable energy provides over 80% of New Zealand's electricity generation, primarily from hydropower (60% in 2018), geothermal (17%), and wind (4.7%). While hydro and geothermal expansion is limited, wind power has grown significantly, and solar is expected to be a major part of new generation as demand is projected to double by 2050.
• The transport sector accounts for approximately 20% of emissions, with road transport emissions increasing 93.4% between 1990 and 2017. Significant investment gaps exist in rail, with an estimated USD8-10bn gap between business-as-usual trends and the USD18bn required for new rail infrastructure by 2040.
• New Zealand's water infrastructure is aging, with over half of the 300+ publicly owned wastewater treatment plants using outdated technology. The Global Infrastructure Hub estimates a need for USD17bn in water investment up to 2040.
• The waste sector is characterized by high per capita waste generation but low overall volumes, making large-scale infrastructure projects economically unviable. No waste projects in the report's pipeline met the minimum threshold of NZD50m, and the largest reported project is a NZD20m organic waste processing facility.
• The green building sector is experiencing growth driven by government tenant demands, bank incentives like ANZ's Healthy Home Loan, and interest from District Health Boards. Construction emissions in New Zealand have risen by 60% over the last decade.

APA

Boulle, B., & Nolan, S. (2019). New Zealand green bonds and infrastructure. Climate Bonds Initiative. https://www.climatebonds.net/files/documents/publications/New-Zealand-green-bonds-and-infrastructure-2019.pdf

Chicago

Boulle, Bridget, and Sharna Nolan. New Zealand green bonds and infrastructure. Climate Bonds Initiative, 2019. https://www.climatebonds.net/files/documents/publications/New-Zealand-green-bonds-and-infrastructure-2019.pdf.

Wikipedia

{{cite report |last1=Boulle |first1=Bridget |last2=Nolan |first2=Sharna |title=New Zealand green bonds and infrastructure |publisher=Climate Bonds Initiative |date=August 2019 |url=https://www.climatebonds.net/files/documents/publications/New-Zealand-green-bonds-and-infrastructure-2019.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{boulle2019new, author = {Boulle, Bridget and Nolan, Sharna}, title = {{New Zealand green bonds and infrastructure}}, institution = {Climate Bonds Initiative}, year = {2019}, month = aug, url = {https://www.climatebonds.net/files/documents/publications/New-Zealand-green-bonds-and-infrastructure-2019.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }