HSBC New Zealand is a founding partner of New Zealand’s Toitū Tahua - Centre for Sustainable Finance. Officially launched on 29 July 2021, Toitū Tahua was set up by the Aotearoa Circle’s Sustainable Finance Forum to drive public and private sector collaboration as New Zealand accelerates its transition to a more sustainable financial system.
A key part of HSBC New Zealand’s strategy is building strategic relationships in areas that align with the Group’s strategic pillars, including Transition to net-zero. HSBC and New Zealand share similar net zero carbon ambitions and New Zealand is the first country in the world to implement Taskforce on Climate-related Financial Disclosure (TCFD) legislation, which will take effect from 2023. This opportunity aligns with our ambition and purpose, and with our strategy as a network market of leveraging HSBC’s sustainability leadership to support our customers to transition to a low carbon future.
An industry-first collaboration for New Zealand, HSBC is one of five founding partner banks, the others being ASB, ANZ, BNZ, and Westpac. Our global credentials in sustainable financing, together with our unrivalled international trade expertise in this market, enable us to provide a unique international lens to the Toitū Tahua, in particular for supply chain sustainability. In addition to the founding partners, there are five associate partners: EY, IAG, Kainga Ora, NZ Super Fund and The Tindall Foundation.
The name, Toitū Tahua, was chosen by Ngāti Whātua Ōrākei te reo and cultural experts. Toitū – (pronounced Toy – too) is a well-recognised Māori word meaning sustainable, undisturbed, and permanent. Tahua encompasses the financial power and the collectively of resources and thinking. (pronounced Ta(r)) – who – a (silent r). It underscores sustainability and protection of the environment, and acknowledges the importance of financial investment, new thinking and collective action required for a robust and resilient financial system and planet.