Media release
Kiwibank First New Zealand Bank To Back Biodiversity Credits
Kiwibank has become one of New Zealand's early adopters of Biodiversity Credits, purchasing credits generated through Sanctuary Mountain Maungatautari in partnership with environmental markets specialist Ekos.
The investment reflects Kiwibank's commitment to helping build a better future for Aotearoa New Zealand, recognising that thriving communities, a resilient economy and a healthy natural environment are deeply connected.
The Biodiversity Credits purchased by Kiwibank support conservation outcomes at Sanctuary Mountain Maungatautari, the world's largest pest-fenced eco-sanctuary. The sanctuary protects 3,363 hectares of native forest and provides a safe haven for some of Aotearoa's most threatened species, creating measurable biodiversity gains that extend far beyond its iconic 47km predator-proof fence.
"As we begin to understand our relationship with nature, we're proud to take this first step by supporting Sanctuary Mountain Maungatautari. It's one way we're bringing our Purpose to life by contributing to a better future for Aotearoa New Zealand," says Julia Jack, Kiwibank Chief Purpose & Brand Officer.
The purchase reflects a growing recognition that climate action and nature restoration must go hand-in-hand.
"New Zealand businesses are increasingly understanding that while carbon emissions must be reduced, restoring nature is equally critical to creating a sustainable future," said Helen Hughes, Tai Urungi/Chief Executive of Sanctuary Mountain Maungatautari.
"Nature is the foundation of our biological economy and our wellbeing. Biodiversity Credits provide organisations with a practical mechanism to fund the protection and restoration of ecosystems that deliver benefits for wildlife, communities and future generations."
Sean Weaver, Founder and CEO of Ekos, said Kiwibank's commitment to purchasing Biodiversity Credits reflects a growing understanding among businesses that nature is a partner at the boardroom table in a sustainable economy.
"We're increasingly seeing business leaders recognise the strategic value of nature as ecological infrastructure, in addition to its inherent value as a taonga or national treasure. This infrastructure delivers an abundance of beneficial ecosystem services like water purification, soil formation, nutrient cycling, flood protection, drought resilience - so many things that would be prohibitively expensive to replace with engineering” he said.
Unlike carbon credits, which focus on greenhouse gas emissions, Biodiversity Credits represent measured, reported and independently verified nature conservation outcomes that the buyer funds when they purchase them. They are increasingly being used world-wide for nature-related business sustainability reporting whilst providing much needed funding for conservationists to look after nature.
Kiwibank's purchase of Biodiversity Credits will help support the ongoing conservation and restoration efforts at Sanctuary Mountain Maungatautari, which is internationally recognised for its role in protecting and reintroducing threatened native species including kiwi, takahē, kākāpō, hihi and tuatara.
Ekos, which has played a leading role in the development of environmental markets across New Zealand and internationally, worked alongside Sanctuary Mountain Maungatautari to develop and bring these Biodiversity Credits to market.
"Businesses want to know that their investment in nature is making a genuine difference," Weaver said.
"The focus is on measured and independently verified conservation outcomes,” he said.
For Sanctuary Mountain Maungatautari, the transaction represents an important step towards unlocking new conservation funding streams capable of supporting landscape-scale ecological restoration.
Weaver said private sector participation will ultimately play a fundamental role in helping scale conservation efforts across New Zealand.
"Seeking conservation funding from grants is like fishing in a river. Nature markets are like fishing in the ocean – there are far more fish there, but you need more sophisticated gear to get them,” Weaver said.
"Conservation at the scale required to reverse biodiversity loss cannot be funded by philanthropy and government funding alone," said Hughes.
"We need innovative mechanisms that channel private sector dollars into nature. Biodiversity Credits create a direct connection between buyers wanting to make a positive impact and projects delivering measured and verified outcomes on the ground."
"Partnerships like this demonstrate how organisations can play a practical role in supporting nature recovery. Every biodiversity credit transaction helps strengthen the protection of native species and ecosystems while creating positive outcomes that benefit all New Zealanders," said Hughes.
As businesses face growing expectations from customers, international markets, investors and stakeholders to demonstrate environmental leadership, Biodiversity Credits are emerging as a powerful tool to help accelerate the kind of nature restoration championed by Benedict Cumberbatch in his documentary ‘How to Live on Earth’ that premiered in Auckland last month.
