LGFA launched its Green, Social & Sustainability Lending Programme for council and council controlled organisations (CCO) members on 6th October 2021, and is now pleased to announce that our inaugural loans have been made.
The Wellington City Council (WCC) and the Greater Wellington Regional Council (GWRC) have today become the first local authorities in New Zealand to draw down under the programme.
Under LGFA’s Green Buildings category, WCC has commenced borrowing up to $180 million for the construction of Tākina, the Wellington Convention and Exhibition Centre. Due to open in 2023, Tākina has been awarded a 5-star certification by the New Zealand Green Building Council for a design that reduces energy use by 60% and carbon emissions by 66% when benchmarked against comparable new builds. The building’s features include a rainwater harvesting system, smart air conditioning and enhanced thermal insulation. Tākina will also have display screens to show visitors real-time sustainability metrics, such as water and energy consumption, as well as carbon emissions.
Tākina, the Wellington Convention and Exhibition Centre
Tākina, the Wellington Convention and Exhibition Centre, Wellington City Council
Under LGFA’s Climate Adaptation category, GWRC has commenced borrowing up to $227 million which will fund the Council’s flood protection work on the RiverLink project. This involves upgrading the stopbanks on either side of Te Awa Kairangi Hutt River as well as deepening and widening the river channel to protect Lower Hutt city centre from a one in 440 year flood event, at the same time enhancing the ecological health of the river. The overall RiverLink Project (with an estimated $700m of funding committed) is a partnership between Hutt City Council, GWRC and Waka Kotahi NZ Transport Agency working together with Mana Whenua partners – Ngāti Toa Rangatira and Taranaki Whānui ki te Upoko o te Ika. Working collaboratively the Project encompasses Flood Protection works within and around Te Awa Kairangi Hutt River, the Making Places Urban Development Plan, and Melling transport improvements.
RiverLink project
RiverLink Project (image is indicitive). Greater Wellington Regional Council