Business and sector insights

ANZ Insights Paper: The greening of commercial property in New Zealand

April 2024 

Thinking of building green or greening your existing building? Here are some practical tips.

Summary of the paper

With New Zealand committed to reducing greenhouse gas emissions, our built environment must transform.    

Beyond their environmental impact, greener buildings may provide some key benefits for those who own, occupy, and invest in them, and the companies who build them. There’s also a growing range of finance options, such as the ANZ Business Green Loan——, that could help you achieve your goals.

In this insights paper, we lay out the key drivers behind the greening of commercial property in New Zealand. We suggest some basic steps you can take if you’d like to start making your property lower emission and more energy efficient. And we show how some building owners and experts are embracing the shift to green – and why they aren’t looking back. 

“Whether you’re a large, medium, or small enterprise, landlord or tenant, sustainable choices add up and can help move New Zealand toward a greener future.”  

Kelly Bunyan, ANZ’s Head of Property New Zealand/Pacific 

Understanding building emissions

Our built environment is responsible for two main types of carbon emissions. Getting to grips with the difference between them is important, because they present different challenges – and require different solutions.

Embodied carbon

The carbon emitted in the extraction and manufacture of the materials that go into a building, as well as the construction (and deconstruction) itself.

Operational carbon

Emitted from the day-to-day running of buildings – the likes of heating, ventilation, waste, and water.

The case for greening

“Green buildings use less water and electricity, driving down running costs which is a huge win.” 

Andrew Eagles, New Zealand Green Building Council Chief Executive 

Green building ratings

Green building ratings are voluntary in New Zealand and can bring several benefits. The most common are: 

  • NABERSNZ, which measures and rates the energy use of commercial office buildings. 
  • Green Star (new buildings) and Green Star Performance (existing buildings). These look beyond energy efficiency at a wide range of factors in buildings, from warehouses to offices and beyond.

For building owners keen to go further, programmes like Toitū net carbonzero and Net Zero™ Buildings focus on measuring, reducing, and (where necessary) offsetting greenhouse gas emissions. 

Getting started

Both new and existing buildings have pathways to being greener. Wherever you’re at, and whatever your aspirations, here are five ways you could get the ball rolling.

“Do some research when you’ve got maintenance coming up. There are green options which initially might seem more expensive – but over the long run, they can actually save you money.” 

Rob Braun, Owner Automotive Investments Ltd 

The greening of commercial property

Thinking of building green or greening your existing commercial property? Watch this recorded webinar for practical tips on your journey toward owning and occupying greener buildings. Experts Andrew Eagles, CEO of the New Zealand Green Building Council, and Ben Masters, Principal – Sustainable Buildings at Beca, explore the benefits of greening your commercial property, the different ratings available and how to get started.

Read the full paper

Read about the potential benefits of making your building more energy efficient, advice from industry experts, and stories from New Zealand businesses about how they’re proactively ‘greening’ their properties.

Contact an ANZ Business Specialist

Our specialists understand your kind of business and the challenges you face as a business owner. We can help you figure out how to make your business grow and succeed.

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Important information

This information has been prepared by ANZ Bank New Zealand Limited (ANZ) for informational purposes only. It is a necessarily brief and general summary of the subjects covered and does not constitute advice. You should seek professional advice relevant to your individual circumstances. While the information contained in this document is from sources perceived by ANZ to be reliable and accurate, ANZ cannot warrant its accuracy, completeness or suitability for intended use. ANZ shall not be obliged to update any such information after the date of this document. To the extent permitted by law, ANZ nor any other person involved in the preparation of this document accepts any responsibility or liability for any opinions or information (including the accuracy or completeness thereof) contained in it, or for any consequences flowing from its use. This summary is current as at August 2023 and the details in it are subject to change.

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