We recognise our responsibility to deliver balanced outcomes for our customers and communities. Managing environmental and social risks is part of this responsibility together with identifying opportunities that accelerate the progress for all.
Our Environmental & Social Framework provides a reference point for our people and stakeholders on the minimum standards we seek to abide by, the targets we aim to achieve, and the governance and oversight in place to support our actions.
ASB is committed to supporting New Zealand's transition to a low emissions, climate-resilient economy. Our climate change strategy has an overarching objective of accelerating progress for all by helping to build a positive, climate-resilient future for our customers, our communities and our operations.
In August 2023 we issued ASB's second voluntary Climate Report. This report shares ASB's commitment to transparently sharing its climate response efforts, and where we see opportunities to do more as we work toward enabling a low emissions, climate-resilient economy.
ASB is taking action now to help shape a better tomorrow. Shaping a better tomorrow means supporting our customers' steps to improve environmental and social outcomes. We do this by engaging with our customers on environmental issues combined with appropriate financing options.
Measuring emissions financed by our lending (‘financed emissions') is important in underpinning target-setting and the development of robust emission reduction glidepaths in the sectors we work with. Reporting on financed emissions in our FY23 Climate Report provides a starting point to help us track and develop strategies to support ASB and our customers in limiting climate change.
ASB is proud to be a Toitū Envirocare net carbonzero certified organisation.
This means we actively work to measure, monitor and reduce our operational greenhouse gas (GHG) emissions. Our operational emissions strategy includes reducing our gross operational emissions and purchasing carbon credits to offset residual emissions to achieve our Toitū Envirocare net carbonzero certification. We also purchase renewable energy certificates (RECs) from our energy provider to redeem against our electricity consumption.
ASB provides support to community organisations and initiatives that are helping to accelerate the progress of all. Find out more here.
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.
ASB reports regularly on our environmental, social and governance (ESG) progress and activities.