Certified and use-of-proceeds
Green bonds NZ: certified sustainable fixed income
A green bond is an ordinary bond with a rule attached: the money raised must be spent on eligible assets, and the issuer must report on where it went. The credit risk is the issuer's — the "green" applies to the use of proceeds, not to your capital protection.
Highest indicative green bond yield
6.02%
Indicative yield to maturity only — it moves with market pricing and is not guaranteed. We'll email you the live rate sheet and the free NZ Bond Buyer's Guide.
Kāinga Ora Wellbeing Bond, 2032
HNZ060·Social housing·Matures June 2032
Crown-guaranteed housing debt paying a small margin over the equivalent government bond, issued under a wellbeing bond framework.
4.86%
5.05% coupon
Semi-annually
Auckland Council Sustainability Bond, 2032
AKC090·Local government·Matures September 2032
New Zealand's largest council borrower, funding transport and water infrastructure under a sustainable finance framework.
5.04%
5.20% coupon
Semi-annually
Mercury NZ Green Bond, 2030
MCY060·Renewable energy·Matures July 2030
Certified green bond funding geothermal and wind generation, from an investment-grade rated gentailer.
5.92%
6.10% coupon
Quarterly
Meridian Energy Green Bond, 2032
MEL060·Renewable energy·Matures March 2032
New Zealand's largest renewable generator, issuing certified green debt against hydro and wind assets.
5.86%
6.00% coupon
Quarterly
Contact Energy Green Bond, 2031
CEN080·Renewable energy·Matures August 2031
Green bond proceeds directed at Taupō geothermal development, from one of the most active retail issuers on the NZX.
6.01%
6.16% coupon
Quarterly
Argosy Property Green Bond, 2029
ARG010·Commercial property·Matures September 2029
Green bond secured over a portfolio of Green Star rated industrial and office property.
6.02%
6.15% coupon
Quarterly
Certified green and sustainability issues. All figures are indicative, in New Zealand dollars, as at 2 Sept 2026. Yield to maturity moves with the market price you pay and will differ from the coupon. Confirm current terms in the issuer's offer documents before investing.
New green issues are announced with only a few days' notice. Get on the list so you don't miss the next one.
Send me the rate sheetWhat makes a bond genuinely green
The label that carries weight in New Zealand is certification against the Climate Bonds Standard, with an independent verifier and an annual allocation report. Mercury, Meridian and Contact all issue on that basis, against geothermal, hydro and wind assets.
Argosy Property is the outlier in structure rather than in credibility: its green bonds are secured over Green Star rated buildings, which is unusual in a market where almost every listed retail bond is unsecured.
Auckland Council and Kāinga Ora issue under broader sustainability and wellbeing frameworks — proceeds go to transport, water, climate resilience and warm, dry housing rather than to renewable generation specifically.
One nuance worth knowing: a gentailer can issue a certified green bond while still owning thermal peaking plant for dry years. If your mandate is strictly renewable-only, read the framework document rather than the label.
Do green bonds pay less?
In New Zealand, not meaningfully. Green issues from the gentailers price broadly in line with their conventional bonds of similar maturity, because the credit behind them is identical. Any so-called greenium here is small enough to be lost in the bid-offer spread.
Where green issuance does change things is supply. The renewables build-out means these issuers come to the retail market often, so there is usually a green line available at a maturity that suits you — which is not always true of conventional corporate issues.
Weighing a green corporate bond against the Crown-guaranteed alternative? Kāinga Ora is the closest thing New Zealand has to a sovereign-risk sustainability bond — see government bonds NZ.
Free · no obligation
Be first in line for the next green bond
up to 6.02%
Highest indicative yield to maturity on this page. Yields move with market pricing and are not guaranteed.
Certified green and sustainability issues are usually scaled or sold out within days. Register your interest and a licensed broker will let you know what's open and send the offer documents, plus the free NZ Bond Buyer's Guide.
- → The free NZ Bond Buyer's Guide, emailed to you
- → Current indicative yields and offer documents
- → No cost, no obligation, no application made