Sudima granted a sustainable loan of 100 million dollars

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New Zealand-based Sudima Hotels is investing heavily in its sustainability practices, becoming the first hotel group to partner with Bank of New Zealand (BNZ) for a sustainability-linked loan (SLL).

Kanika Jhunjhnuwala, Hind Management’s Executive Director – Sustainability and Environment, says the $100m SLL loan allows for more investment in ESG and improved accountability.

“We have publicly stated our commitment to making the world a better place and the ESG initiatives we have in the pipeline would have been achieved independently of this funding partnership,” Jhunjhnuwala said.

“However, the benefit of this SLL allows us to invest more while adding accountability and transparency to our stated goals, thanks to the rigor of the SLL’s reporting and measurement process.”

Hind Management’s goals for 2025 include reducing actual and potential emissions in Sudima Hotels operations, improving accessibility standards to market-leading, improving cultural competency across the organization and improving the sustainability of the supply chain with a focus on reducing plastic.

“We have made significant progress on our KPIs for 2022, including working with Sunergise to install solar panels at our Sudima Auckland Airport hotel,” Jhunjhnuwala said.

“The proposed system would potentially offset over 40% of the daytime load of this specific hotel. We hope others in the industry can see what is possible and be willing to collaborate to share knowledge and IP initiatives for the greater good.

“I am motivated to take this opportunity to advocate for change within our industry. During our trip, I worked with several of our suppliers to facilitate changes in our supply chain to meet the strict criteria of our hotels. I also invite my peers to meet and work with us, because together we can achieve so much more.

Hind Management worked with sustainability company thinkstep-anz on its sustainability KPIs.

“What differentiates SLL from Hind Management is the holistic approach the company takes to sustainability,” said Thinkstep-anz CEO Barbara Nebel.

“By enhancing the team’s knowledge of te reo and Māori tikanga, championing accessibility and sourcing responsibly, Hind Management has a strong focus on social and cultural outcomes as well as environmental outcomes. It is still relatively rare. It’s great to see the company playing a leading role in building a more sustainable tourism sector.

BNZ is aiming for $10 billion in sustainable funding by 2025 and believes SLLs will be a key part of reaching that goal.

“BNZ is delighted to be working with Hind Management on this landmark tourism sustainability lending transaction,” said Adam Coxhead, BNZ’s Head of Sustainable Finance.

“Hind is showing true leadership in the scope of environmental and social objectives it has incorporated into its borrowings, and it is setting the benchmark for others in the sector. This agreement will make a real difference in the communities in which they operate and to New Zealand. »

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