Contact refreshes sustainability-linked lending programme

Media Release
19 December 2022

Contact refreshes its sustainability-linked
lending programme

Contact has refreshed its sustainability-linked lending programme to further align with its
strategy to build a better New Zealand by leading the country’s decarbonisation.
The new facility structure will support Contact’s previously signalled investment programme.
As leaders in sustainability, the company is focused on its Contact26 strategy to grow
demand for renewable electricity, develop new, flexible energy generation, decarbonise its
portfolio and create outstanding customer experiences. Underpinning this is the
commitment to strong environmental, social and governance practices.
In 2020 Contact was one of the first companies in the country to align its bank debt to its
sustainability goals. This new $850million sustainability linked facility announced today,
replaces existing bilateral facilities and is further evidence of the company’s commitment to
combatting Climate Change.
Earlier this month Contact joined the world’s top sustainability leaders in the most
prestigious global benchmark for corporate sustainability, the Dow Jones Sustainability Asia
Pacific Index. Contact was the only new inclusion in the DJSI Asia Pacific from New
Zealand, and the second highest ranking from New Zealand.
“We are well on track, and highly committed, to reducing greenhouse gas emissions and
increasing our leadership position in sustainability performance, and our new renewable
generation capacity will enable our customers to decarbonise,” said Contact Corporate
Treasurer Will Thomson.
“To be able to access the financial benefits under this arrangement, we’ll need to beat our
current SBTi carbon reduction targets, increase renewables generation beyond what has
already been announced, and continue to be a leader in broad-based sustainability
performance, as evidenced by sustained inclusion in the DJSI. In doing so, we would drive
even better ESG outcomes than what we’ve already committed to do,” said Mr Thomson.
ANZ New Zealand and Westpac NZ were Joint Lead Arrangers and Bookrunners, with
Westpac engaged as Sole Sustainability Coordinator.
Westpac NZ’s Head of Sustainable Finance, Joanna Silver, acknowledged Contact’s
leadership and continual efforts to drive meaningful change in emissions, renewable energy
and ESG performance.
“Contact has been a leader in the sustainable finance market, since establishing its green
borrowing programme in 2017,” said Ms Silver.
“Very few companies in New Zealand have made a commitment to a 1.5-degree emissions
reduction trajectory. We are proud to be able to partner with our customers and support
them to align their financing with climate change action and broader sustainability activities,”
said Ms Silver.

2
As part of the arrangement, EY provided assurance services on the Sustainability-Linked
Loan targets in alignment with the recommendations of the Sustainability-Linked Loan
Principles (March 2022).
* ENDS *
About Contact
Contact Energy is one of New Zealand’s largest energy retailer and generators. We
generated 8.3 terawatt hours of electricity from hydro, geothermal and gas in the last
financial year and have over 550,000 customers with electricity, gas and broadband
connections. Our vision is to build a better Aotearoa New Zealand by leading New Zealand’s
decarbonisation journey.

Investor enquiries
Shelley Hollingsworth
Investor Relations and Strategy Manager
+64 27 227 2429
shelley.hollingsworth@contactenergy.co.nz


Media enquiries
Leah Chamberlin-Gunn
Senior Communications Advisor
+64 21 227 7991
leah.chamberlin-gunn@contactenergy.co.nz