Our sustainability approach

As part of being a purpose-led business, we know that we need to run our business in a way that helps our customers, our people, the communities we operate in and the environment. Here’s how we’re doing that.

2,000kgs of plastic recycled into cards

We're proud to be the first bank in New Zealand to use recycled plastic in all our EFTPOS, debit and credit cards. 82% of all material used is recycled.

This change means that more than 2,000kgs of plastic waste will be recycled each year to be made into our cards. That's about the same amount of plastic as 111,000 single-use coffee cups.

Wondering why only 82%? This is because our debit and credit cards have a chip and other core technology that can't be made from recycled plastic.

We reviewed different alternatives to plastic and making our cards from recycled plastic was the best option from an environmental perspective. This will reduce our carbon emissions as a business and helps us fulfil our purpose of making Aotearoa better off.

2021 sustainability report

Family swimming in the sea

We're 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.

Being certified takes into account five key aspects of our business.

  1. Governing our business in a way that’s ethical, responsible, and delivers on our purpose of Kiwi making Kiwi better off
  2. Placing customers first in our design of products and services to ensure positive outcomes
  3. Making a positive difference in our communities
  4. Supporting and developing our people
  5. Protecting and improving the environment through our processes and lending practices.

Our climate change action plan

In 2019 we developed our plan on how we're going to respond to climate change. What we're doing as part of this plan is outlined below.

Improving our own emissions

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.

How we're tracking

How we've reduced our carbon emissions

  1. Reducing our electricity usage through efficient buildings
    Both our head offices are Green Star rated and we're installing LED lighting into all our Kiwibank branches and contact centres.
  2. Reducing our waste
    We’ve introduced composting in our head office sites, changed our quick deposit bags from plastic to paper which removed over 80,000 single use plastic bags per year from circulation and changed our envelope material so they're 100% paper based.
  3. Improving our fleet
    We've committed to converting 100% of our fleet to electric vehicles. In February 2022, seven Mobile Mortgage Managers across the country began trialling the first electric vehicles in the Kiwibank fleet. After the initial trial, we'll look to expand this programme across Kiwibank.
  4. Travel
    We're providing all teams with carbon travel budgets that will require them to reduce their total travel by 20% by 2025.

Understanding climate risk

We're developing an approach to climate risk management in line with Taskforce for Climate-Related Financial Disclosures. We've identified five key areas we're going to work on. The first area we're focused on, is the impact of increased coastal flooding, caused by sea level rise and increased storm events have on properties across Aotearoa.

We're working with NIWA to gain better information on coastal flooding and will use these insights to support our customers with addressing this issue.

We're also investigating how we can get better data on the carbon footprint of our business customers and how we can help them to measure their carbon footprint.

Supporting positive climate outcomes

We provide low carbon options to allow customers to choose more sustainable options.

Our Sustainable Energy Loans are available for home loan customers who want to install eligible sustainable energy systems in their homes.

Responsible business banking

As an organisation dedicated to making Kiwi better off, we want to ensure that our business decisions are aligned with our purpose. We believe entities that demonstrate good environmental, social, and governance (ESG) performance will be more resilient in the long term.

Our Kiwibank Responsible Business Banking policy outlines the industries and businesses we won't do business with. This policy highlights our commitment to protecting the best interests of Kiwi and the environment.

Download the Responsible Business Banking policy (PDF 105.6 KB).

Supplier expectations

We want to engage with suppliers who share our commitment to behaving responsibly, ethically and sustainably.

We expect all of our suppliers to adhere to the following principles:

  • To deliver together great outcomes for our customers
  • To implement the standards of our Supplier Code of Conduct in their own business and encourage good practice within their own supply chain
  • To respect and abide by our pillars of sustainability and corporate responsibility
  • To complete any supplier assurance requirements at the required frequency.

Visit our supplier hub for more details.

If you’d like more information about our sustainability work or have an idea of how we can improve our sustainability performance, email sustainability.kb@kiwibank.co.nz and we'll be in touch.

We measure our emissions against our 2018 Financial Year, as that was the first year that Kiwibank was separated from NZ Post.