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
Our sustainability report outlines our performance to date and sets out some ambitious goals for the future.
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
- 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.
- 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.
- 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.
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.
We measure our emissions against our 2018 Financial Year, as that was the first year that Kiwibank was separated from NZ Post.