Westpac issues a green loan for superannuation
On Wednesday, Westpac announced Australia’s first green loan designed for the superannuation sector, a $65 million loan to Local Government Property Fund (LGPF) managed by Local Government Super (LGS).
LGPF is the fifth entity in Australia to receive a green loan, allowing members to invest in the growing field of sustainable finance.
With Westpac acting as its advisor, LGS created a Green Financing Framework in alignment with Green Bond Principles and Climate Bond Standard and received certification from the Climate Bonds Initiative.
LGS manages the first property portfolio to achieve carbon neutral certification under the Australian government’s Climate Active program for all of our NABERS rated buildings.
NABERS adjusts its ratings process for coronavirus shutdowns
In an attempt to manage impacts from the COVID 19 outbreak, NABERS National Administrator and Commercial Building Disclosure program (CBD) have issued a draft proposal on how buildings will be rated if a site is in lockdown or deemed too hazardous to visit.
Building owners must provide evidence that a NABERS site visit scheduled between 1 March and 30 April cannot commence due to increased risk. NABERS will determine ratings based on a prior visit or previous information from the site on a case by case basis.
Fremantle launches volunteer program to assist with COVID-19
The city of Fremantle, Western Australia near Perth, launched its Neighbour to Neighbour program to provide vital assistance to those affected by the COVID-19 outbreak.
Residents can sign up to help affected vulnerable community members with everyday errands such as grocery shopping, picking up mail or a friendly phone call.
“We understand that there are many people living independently who may not have family or friends nearby to help them during this challenging time,” Fremantle mayor Brad Pettitt said.
Find out how to join on the city’s website.
Green bonds growing in emerging markets
Green, social and sustainability bonds are projected to grow in emerging market (EM) economies as investors place greater scrutiny on issuers’ environmental social governance (ESG) and sustainability credentials according to a recent report from Moody’s Investors.
Emerging market economies face a need to invest in sustainable development as they are most vulnerable to ESG risks such as income inequality and climate change hazards.
Green bond issuance has taken a hit amongst emerging markets in the wake of the coronavirus outbreak after a record high $56 billion issuance.
The draft is open to feedback until 24 March. A final ruling will be issued 25 March.