Sustainability and wellbeing
Supporting the wellbeing of New Zealanders is central to Kāinga Ora’s purpose. We undertake projects and expenditures that contribute to greater wellbeing outcomes for the communities we serve, including sustaining and growing intergenerational wellbeing.
Our Sustainability Financing Framework (Framework), developed in March 2019 and updated in September 2019, explicitly recognises the role we play in improving wellbeing outcomes for New Zealanders, and enables us to link our financing requirements accordingly.
Commitment to sustainability
We recognise the potential for carbon emissions of buildings to contribute to global warming and acknowledge the importance of generating both positive environmental and social outcomes through our operations, build programmes and influence on customers.
Our vision for sustainability is strategically aligned with Government commitments to international agreements, including the United Nations Paris Agreement, and Sustainable Development Goals(external link) (SDGs).
We demonstrate our commitment to sustainability by implementing our Customer Strategy and Programme, Environment Strategy and key measures of success outlined in the 2017-2021 Statement of Intent.
Commitment to wellbeing
We are committed to sustaining and growing intergenerational wellbeing
The New Zealand Living Standards Framework(external link) (LSF) was developed by The New Zealand Treasury in order to measure and analyse intergenerational wellbeing.
The LSF aims to deliver better policy advice to Ministers targeted at improving living standards and which takes into account the impact on New Zealand’s current and future stocks and flows of wellbeing. The LSF also allows comparisons of wellbeing across population groups and internationally to identify where New Zealand’s living standards may fall short.
We appreciate that public housing and wrap around services for people in need are an important source of wellbeing, with potential impacts on the four capitals which form the base of the LSF:
- financial and physical capital
- human capital
- natural capital, and
- social capital.
The four capitals are interrelated. For example, constructing new public housing contributes to New Zealand’s financial and physical capital but also potentially improves living standards for tenants by reducing overcrowding. This, in turn, can lead to better health outcomes for tenants and provides greater housing stability, which can lead to better education outcomes for children, thus also benefitting human capital.
Wellbeing Bonds are a Sustainability Financing Transaction within the Framework. Wellbeing Bonds are Sustainability Bonds that are also aligned with the New Zealand Treasury’s Living Standards Framework, and reinforce Kāinga Ora’s focus of supporting the wellbeing of New Zealanders.
On 10 September 2019, all existing notes issued by Housing New Zealand Limited were aligned with the Framework as Wellbeing Bonds and, on 16 September 2019, Housing New Zealand issued a further $600 million of Wellbeing Bonds across two tranches.
Further information around bonds on issue is on our Debt and ratings page.
Sustainability Financing Impact Report – year ended 30 June 2019
On 7 November 2019, Kāinga Ora published its inaugural Sustainability Financing Impact Report for the year ended 30 June 2019. This report covers core components of the Framework, including Use of Proceeds as well as key information related to the reporting period.
Key issuer documents
For key issuer documents about our sustainability and wellbeing go to our Presentations and publications page.
Page updated: 7 November 2019