Rural loans created to boost sustainability wins inaugural green award

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ASB’s Rural Sustainability Loan, which offers discounted lending to the rural sector to accelerate their sustainability goals, is the winner of Canstar’s inaugural award for Green Excellence.

The Rural Sustainability Loan is designed to support the rural sector’s ambitions for sustainability with low-cost funding. Canstar’s judging panel recognised this product helped remove barriers for customers looking to reduce their impact on the environment.

Furthermore, ASB’s climate strategy was recognised as one which demonstrated strong business commitment to driving sustainable change. ASB’s strategy ranges from internal targets such as reducing operational emissions, to community targets that support a low-emissions economy.

Jose George, Canstar New Zealand’s General Manager, said identifying excellence in green credentials was an important addition to Canstar’s suite of annual awards. “Our inaugural Green Excellence Awards recognises the vital role corporates play in creating a sustainable future, and moving toward a low-emissions economy. ASB’s win of this first award is due to its commitment toward this goal, not only by supporting its clients but also by creating an internal strategy with very real ambitions and targets.

“We all know there is an urgent need to protect our environment for this generation and those who come after us. At Canstar, we’re very proud to present this award, celebrating efforts in this space, for the first time. Huge congratulations to the team at ASB for their win.”

Ben Speedy, ASB’s GM Rural, said: “ASB is thrilled to win this Green Excellence Award for our Rural Sustainability Loan, which supports food and fibre growers improve on farm sustainability, meet environmental compliance, and reduce emissions. This discounted lending empowers the rural sector to make affordable choices when it comes to running their operation to the benefit of the environment and future generations.”

Canstar’s panel assesses the Green Excellence Awards with two overarching criteria; Environmental Impact and Consumer Empowerment. The first criteria considers the initiative’s positive impact on the environment or society. Within this, it considers the broader sustainability strategy, targets, and performance, as well as business commitment. The Consumer Empowerment criteria considers how effective the initiative is at driving consumer behaviour change, or enabling consumers to choose more sustainable options. To determine this, the method considers the accessibility of the product, service, or initiative, as well as its utilisation and impact.

For further details please visit the Canstar NZ site here.

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