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.

Climate change and environment

ASB views climate change as one of the most critical challenges facing New Zealand’s communities and economy. We are committed to playing a positive role in helping tackle that challenge. ASB’s climate change strategy has three focus areas: to improve our own footprint; to understand climate-related risk and start integrating this understanding into our business decisions; and to support the transition to a lower emissions economy.

Our footprint

ASB is proud to be a Toitū Envirocare Carbon Zero certified organisation. This means we actively measure, monitor and reduce our operational greenhouse gas (GHG) emissions. Any remaining emissions we offset with high quality carbon credits, making ASB a carbon-neutral organisation.

In FY21 our operational GHG emissions were 4,712 tonnes CO2e, mostly from transport and energy use. We have set targets to reduce these emissions by 42% by 2030, compared to our FY20 baseline. This is in line with the Paris Agreement goal to keep global warming to within 1.5 degrees of pre-industrial levels. In FY21 we reduced our operational emissions by 15%.

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

We also work to improve our environmental footprint through reducing waste. For example, ASB deposit bags are recycled into farm fence posts through a partnership with Kiwi business Future Post. Each year this diverts around four tonnes of plastic waste from landfill.

Working with our customers

ASB’s climate change strategy includes a commitment to support the transition to a low emissions economy. This means we support our customers’ efforts to reduce their climate impact and offer lower carbon products that give customers choice. Some examples of these are:

  • The Rural Sustainability Loan supports our rural customers to improve the sustainability of their farms and meet environmental compliance obligations.
  • ASB's Positive Impact Kiwisaver and Investment Fund allows our customers to build their financial futures while investing according to their values.
  • Back my Build offers a low interest rate to customers building a new home from scratch, to address New Zealand’s housing supply challenges. Customers who also commit to get a Homestar sustainability rating can receive a cash-back contribution.

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

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. These include guarding against modern slavery and child labour and taking steps to reduce climate impact. ASB’s actions to tackle modern slavery are included in the CBA Group modern slavery statement which can be viewed here.

Corporate responsibility report

Our annual corporate responsibility report documents ASB’s sustainability journey and ambitions. You can read our latest report here.

If you have any comments or feedback or would like to hear more about what we’re doing, please get in touch at asbcorporatecomms@asb.co.nz