How green is Genesis Energy's green loan?

Ian Llewellyn
Wed, 03 Nov 2021

How green is Genesis Energy's green loan?
The Huntly power station may have a long term future if it gets greener fuel. (Image: Getty)
Ian Llewellyn
Wed, 03 Nov 2021
Genesis Energy and Westpac NZ have agreed to a $100 million sustainability-linked loan with the power company saying it would have liked even greater incentives to reduce things such as carbon emissions.The 10-year loan includes both penalties and rewards based on how Genesis performs in a range of areas including greenhouse gas emissions. The companies won’t say what the exact interest rate is or how the differential works, but Genesis said the penalty cost is up to $100,000 a year and the opportunity benefit is also $100,000.Westpa...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.