Sustainable Finance
Background
In 2019, The Aotearoa Circle took a bold step toward reshaping Aotearoa New Zealand’s financial system to better serve both people and the planet.
This led to the creation of the Sustainable Finance Forum (SFF), tasked with developing the Sustainable Finance Roadmap—a practical plan to integrate environmental, social, and economic considerations into financial decision-making by 2030. The Sustainable Finance Forum was chaired by Westpac CEO (then GM Customer Experience Hub) Karen Silk, and Former NZ Super CEO, Matt Whineray, who played a key role in guiding the forum’s early discussions and strategic direction.
2020 Roadmap for Action
After two years of collaboration with over 200 market participants—including banks, insurers, Māori businesses, iwi, industry leaders, government representatives, and academics—The Aotearoa Circle released the 2020 Sustainable Finance Roadmap for Action. This roadmap represented the collective efforts of the SFF and provided a clear framework for embedding sustainability into the financial sector.
The Roadmap for Action covers three themes – changing mindsets, transforming the financial system and financing the transformation. Under these themes are 11 priority areas each with detailed recommendations.
Moving from Strategy to Action
Following the Roadmap’s release, the focus shifted to implementation. Former Reserve Bank Director Bridget Coates and Capital Markets Specialist Ross Pennington were appointed as Co-Chairs to lead the next phase of the SFF’s work in transforming New Zealand’s financial system
Establishing Toitū Tahua: Centre for Sustainable Finance
In July 2021, The Aotearoa Circle launched Toitū Tahua: Centre for Sustainable Finance, an independent body dedicated to executing the roadmap’s vision. The Centre focuses on five key areas to drive sustainable financial practices:
Inclusion & Equity - Ensuring all communities have access to financial opportunities.
Standards & Pathways - Defining best practices and guiding the transition to sustainable finance.
Governance & Leadership - Strengthening decision-making frameworks.
Responsible & Impact Investment - Promoting investments that create positive environmental and social outcomes.
Education & Capability - Building financial literacy and expertise in sustainability.
Led by Chief Executive Jo Kelly, The Centre continues to drive progress toward the 2030 goals. Initially chaired by Bridget Coates, the board transitioned to new leadership under Matt Whineray in 2024.
With strong leadership and a clear roadmap, New Zealand is making meaningful strides toward a sustainable financial future.
Pictured: The Centre’s Board - 2024
