Suncorp invests millions to make affordable housing accessible

Suncorp invests millions to make affordable housing accessible | Insurance Business New Zealand

Suncorp invests millions to make affordable housing accessible

Suncorp New Zealand has announced that it has invested again in wellbeing as part of its focus on “identifying sustainable investment opportunities that can deliver positive community outcomes” – resulting in a total of $20 million worth of wellbeing bonds after recently purchasing $6 million worth.

The bonds were issued by Housing New Zealand as part of its sustainability financing framework, which aims to fund investment in new or upgraded sustainable social housing.

“We’ve chosen to invest in the bonds because access to affordable housing helps build strong, resilient communities. Investing in these types of bonds will help Housing New Zealand develop more healthy, sustainable homes,” Jimmy Higgins, chief financial officer at Suncorp New Zealand, told Goodreturns.co.nz.

Housing New Zealand will allocate the net proceeds from the bonds to finance or refinance projects aligned to the Living Standards Framework and expected to contribute towards meeting United Nations Sustainable Development Goals.

“Our investment lens is increasingly focused on opportunities that can deliver positive social outcomes. Wellbeing bonds are an important instrument in achieving this,” Higgins concluded.