Corporate responsibility at ASB

At ASB our purpose is to accelerate the financial progress of all New Zealanders. This includes considering the social and economic wellbeing of our customers and communities, protecting the environment and reducing our climate impact.

The environmental and social principles that guide ASB, as well as the standards we hold ourselves to, are set out in our Group Environmental and Social Framework

Climate change and environment

Our footprint

ASB is proud to be a Toitu carbonzero-certified organisation. Being Toitu carbonzero certified means that we are taking meaningful climate action by actively measuring, monitoring and reducing our operational emissions wherever possible. Any remaining emissions have been offset with high quality carbon credits, making ASB a carbon-neutral organisation. 

In 2019, our total carbon emissions were certified as 6,319 tonnes CO2e, which came mostly from road and air travel, and energy use in our sites. We have set science-based targets to reduce our Scope 1 and 2 emissions by 46% by 2030, compared to our 2019 baseline. This is aligned with the Paris Agreement targets to keep global warming to within 1.5 degrees of pre-industrial levels.

We are also a member of the Climate Leaders Coalition, joining over 100 other organisations in the commitment to accelerate New Zealand’s transition to a low carbon economy. 

Our customers

ASB's Positive Impact Kiwisaver and Investment Funds allow our customers to build their financial futures while investing according to their values. In 2019 the growth portion of the funds was 64% less carbon intensive than the market average, with a preference for investments that generate a positive environmental or social impact.

ASB's Rural Environmental Compliance loan supports our rural customers to improve the environmental sustainability of their farms and meet their environmental compliance obligations. Projects such as upgrading effluent systems, fencing waterways, planting waterways or managing nitrogen run-off can be funded through the low-cost loan. 

Our partners

ASB has partnered with Trees That Count, a charity that helps to increase native tree planting in communities throughout New Zealand. ASB has funded more than 10,000 trees in planting projects in 2020 - both via direct funding support and by encouraging customers to fund native trees themselves. 

ASB deposit bags are now being recycled into farm fence posts thanks to a partnership with Kiwi business Future Post. Approximately four tonnes of deposit bags will be diverted from landfill through the initiative each year. ASB has also sponsored the installation of 200 future posts at the ASB MAGS Farm, protecting riparian planting along the Meola Creek waterway. 

Supporting a fairer NZ

Our communities

ASB provides support to community and charity projects that are helping make New Zealand a better place. Find out more about our work with the community here

Our suppliers

In order to be a good corporate citizen, we need to encourage our suppliers to do the same. As a Living Wage NZ Accredited employer, ASB requires suppliers to ensure all contractors and subcontractors that provide services at ASB sites (such as security and cleaning) are paid at least the living wage (higher than minimum wage). 

Our Supplier Code of Conduct outlines the expectations we have of our suppliers to operate responsibly. These include guarding against modern slavery and child labour, and taking steps to reduce their climate impact. Find out more about how we are addressing modern slavery in our supply chains here

Corporate responsibility report

Our annual corporate responsibility report documents our journey and ambitions. It talks about ASB, our values and the work we are doing to build and support sustainable New Zealand communities. A passion for helping to develop sustainable business is not something new to ASB. It's part of our culture. We want to share the work we are doing in this area, the challenges we face, the progress we have made and our goals for the future. It's a journey. We don't have it all sorted, but we are working every day on making ASB a better and more sustainable company and helping our customers and community partners to do the same.

If you have any comments or feedback on this report, please feel free to write to sustainability@asb.co.nz