Bank sets ambitious emissions goals
Heartland Group is pushing its sustainability goals after announcing plans to slash greenhouse gas (GHG) emissions produced by its vehicle fleet.
The financial services group, a member of the Climate Leaders Coalition, is among a number of New Zealand organisations that have agreed to set public emissions reduction targets.
Most companies are choosing goals consistent with the Paris Agreement objective to limit global warming within two degrees of pre-industrial levels, but Heartland’s target is more ambitious and aligns with keeping global temperatures within 1.5 degrees.
By the 2026 financial year, Heartland aims to reduce absolute reported emissions from its vehicle fleet, electricity, freight, waste and business travel by 35 per cent from its FY2019 baseline.
The company, which operates Heartland Bank, says its GHG emissions in the 2019 financial year were 1,157 tonnes of carbon dioxide (CO2) equivalents.
Heartland has already reviewed its vehicle fleet and committed to using only certified renewable electricity in New Zealand since the start of April 2021.
It plans to encourage suppliers to have GHG emissions targets of their own and monitor the uptake of such targets in its supply chain.
The group is also vowing to try to understand the current emissions of key sectors in its lending book and identify ways it can support reductions in emissions within each industry.
In a statement to the NZX, it says its role in sustainability extends beyond business operations, “to the customers and activities it actively supports through lending”.
“Heartland will continue to seek external advice on measuring GHG emissions in each sector of its lending book, and will begin to trial a number of sustainable lending projects across the three pillars of its sustainability strategy, including environmental conservation,” it adds.
Laura Byrne, chief of staff, explains publishing Heartland’s targets to reduce its carbon footprint will “challenge and engage employees across the business”.
