Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Mercury NZ

 

Mercury is a renewables – only electricity company that provides around 17% of New Zealand’s electricity generation. Its generation mix is comprised of 5 geothermal plants and 9 hydropower plants which are located along the Waikato River, on North Island. Combined, they produced 7MWh of electricity in 2019.

The company is currently developing the 222MW Turitea wind farm near Palmerston North, on North Island. They have also installed solar PV installations for over 3600 residential and small business customers. They closed a gas power station in 2015.

The proceeds from their first bond will be allocated towards their wind and geothermal energy assets.

As of September 2020, three power companies in New Zealand have issued Certified debt. Contact Energy and Meridian Energy are the others.

 

DATE OF ISSUE  SIZE TENOR COUNTRY OF ISSUE  CLIMATE BONDS SECTOR CRITERIA VERIFIER'S REPORT  ANNUAL REPORT  FURTHER INFORMATION 
September 2020 NZD 200 million (USD 128 million) 7 years New Zealand Wind, Geothermal

pre issuance assurance opinion

post issuance verification

 

Mercury Green Bonds webpage

Green Bond Framework

October 2020

NZD 100 million (USD 66 million)

tap of NZD 50 million (USD 35 million) in April 2021

10 years New Zealand Wind, Geothermal same report as above    
March 2021 NZD 200 million 5.5 years New Zealand Wind, Geothermal    

terms sheet

webpage

Kanga News article