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Filter search resultsRisk management
… LGFA recognises that an effective risk management framework is a critical part of … risk is the risk that financial assets may re-price/mature at a different time and/or by a different amount than … CURRENCY RISK Exposure to foreign exchange could exist if LGFA accesses foreign capital markets for funding …PageSector standard page - content elements
… WYSIWYG stands for What-You-See-Is-What-You-Get - an editor interface that allows you to view something very similar to the end result while you create your content. This page lists …PageOur story
… attempts to establish a collective borrowing vehicle for the local government sector in New Zealand were made in the … lack of strong and unified support from local authorities. At the Jobs Summit in 2009, another proposal for a local … to work on a range of structural issues. In May 2011, an Establishment Board chaired by Craig Stobo was formed to …PageGreen, Social & Sustainability Loans
… and council-controlled organisations (CCOs) lending at a discounted margin to enable them to undertake green, social and/or sustainability (GSS) projects that will help drive forward ambitious climate, environmental and social projects in the New Zealand local government sector (GSS Loans). LGFA …PageSustainability at LGFA
… to continuously improve sustainability outcomes within the company as well as assisting the local government sector … supports New Zealand’s shift to a low-carbon economy. LGFA will exhibit a sense of social and environmental … a responsible and sustainable manner. … Sustainability at LGFA …PageThe United Nations Sustainable Development Goals
… The United Nations’ Sustainable Development Goals (UN SDGs), which were adopted in 2015 by 193 countries including New Zealand, comprise 17 … targets. As part of our commitment to sustainability, LGFA will seek to finance or refinance, indirectly via councils, …PageSector Standard page
… content is stored in pages which are organised in a menu. The concept of hierarchical content works well with: Linear … architecture (information in layers, starting with an introductory top layer). Cards Standard & Poor's Domestic … Known limitations: Scalability - a menu hierarchy fails if there are too many items per level, or if the weight …PageGuarantee arrangements
… and borrower and guarantor councils. Other than the New Zealand Government, each shareholder in LGFA must be … Organisaton who borrows from LGFA Parties to the guarantee will be able to exit the arrangement but only after: All the … borrowings are repaid. All the LGFA’s borrowings, current at the time the council notifies of its withdrawal from the …PageClimate Action Loans
… issues. A CAL rewards a borrower through a margin discount if that borrower has adopted an Emission Reduction Plan (ERP) and the ERP sets out … to a borrower’s operational greenhouse gas emissions at member council or CCO level. CALs are targeted to all …PageSustainable Financing Bonds
… LGFA to issue bonds that are notionally allocated to the Sustainable Loans on LGFA’s balance sheet; and advance the market for sustainable finance by providing an innovative opportunity for investors to support council … to issue and manage sustainable financing bonds that will be notionally allocated to a pool of Sustainable Loans …PageSustainability
… to continuously improve sustainability outcomes within the company as well as assisting the local government sector … their sustainability and climate change objectives. LGFA will promote sustainability within our company and assist the … and visitors. By extension, these investments form an important element of LGFA’s sustainability context. LGFA …PageLGFA’s Carbon Footprint
… measure our greenhouse gas (GHG) emissions and put in place strategies to manage and reduce impacts. We are very … achieved Toitū net carbonzero certification in June 2021. The Toitū certification recognises the processes LGFA has put … environmental impact. Read more about our certification at the Toitū Envirocare website. … LGFA’s Carbon Footprint …PageGSS Loan Application Forms
… loan application forms for each applicable category under the GSS lending programme. LGFA are happy to assist in answering any questions on the GSS criteria or process for … for all social project categories Excluded Categories can be found in Clause 3.6 of the LGFA Green, Social and …PageGovernance
… The LGFA governance structure comprises the New Zealand Government (20%) and thirty councils (80%), the LGFA Shareholders Council and the LGFA Board of …PageFloating nominal amounts for security stock certificates
… for updating security stock certificates plus figures as at 30 June and 31 December in each year for reporting requirements. Please note that the floating nominal amounts disclosed exclude the nominal …PageGlobal Reporting Initiative
… LGFA has chosen to prepare its annual report in accordance with the Global Reporting Initiative (GRI) Standards (core … issues were determined with the assistance of Proxima, an independent sustainability consultancy. Over the past …PageShareholders Council
… The LGFA Shareholders Council comprises five to ten appointees from the Council Shareholders and the Crown. The role of the Shareholders' Council comprises …PageBoard of Directors
… The LGFA Board comprises independent and non-independent … directors, the majority of which are required to be independent directors appointed by shareholders. The LGFA … guides and monitors the business and affairs of LGFA, in accordance with: Local Government Act 2002; Local …PageAbout LGFA
… The New Zealand Local Government Funding Agency (LGFA) is a … under the Local Government Act 2002. LGFA specialises in financing the New Zealand local government sector, the … authorities on terms that are more favourable to them than if they raised the debt directly. … About LGFA …PageLGFA Sustainability Committee
… The LGFA Sustainability Committee provides advice and … within LGFA and its borrowing and lending activities. In 2021, LGFA established our Sustainability Committee to assist us to achieve our sustainability objectives. The Committee is chaired by LGFA’s Head of Sustainability and …PageHealth & Safety
… and healthy working environment for all employees. LGFA will provide a flexible workplace environment that promotes … productivity and enhancing recruitment and retention. The Health and Safety Committee regularly meets to review … individual case management and on-going monitoring of an employee’s progress to ensure the assistance and treatment …PageCredit ratings
… LGFA securities are rated at AAA (domestic long term) by S&P Global Ratings and AA+ by Fitch Ratings. The foreign currency long term rating is AA+ by S&P Global Ratings and AA+ by Fitch Ratings. The domestic and foreign currency ratings are on stable …PageInvestors
… The LGFA provides investors with a source of securities rated at AAA and AA+ (domestic long term) by international credit …PageEnabling legislation
… LGFA was incorporated as a limited liability company under the Companies Act 1993 on 1 December 2011, following the enactment of the Local Government Borrowing Act 2011. The …PageCAL Application Form
… LGFA has one CAL application forms for applying for a CAL under the CAL lending programme. LGFA are happy to assist in answering any questions on the CAL criteria or process for …PageLGFA shareholders
… Shareholders As at 30 June 2020, LGFA had 45 million ordinary shares on issue (valued at NZ$1 each), 20 million of which remain uncalled. There are currently 31 shareholders, comprising: the New Zealand Government at 20% 30 local councils at 80% …PageUseful links
… Useful resources to help you learn more about New Zealand, the New Zealand local government sector and our international … About New Zealand Statistics New Zealand The Reserve Bank of New Zealand The Treasury New Zealand Debt Management (NZDM ) Local Government in New Zealand Local Government New Zealand Local Councils …PageForeign Currency Debt Issuance
… LGFA has the ability to issue two types of Foreign Currency debt. LGFA have MTN documentation in place to enable longer-dated foreign currency issuance with programme limits of US$10 billion and A$5 billion, as well as ECP documentation for short-dated …PageSustainable Lending
… Displaying leadership to the sector on sustainable lending and encouraging its members … projects and to encourage emissions management across the sector, LGFA provides: Green, Social and Sustainability … projects that promote environmental and social wellbeing in New Zealand, progress the United Nations Sustainable …PageStakeholder survey
… LGFA undertake an annual survey to provide us with insight into what we need to do to ensure we continue to deliver a high level of service to our stakeholders. … Stakeholder …PageWeekly pricing update
… LGFA provides a weekly pricing matrix for borrowing across all LGFA … each Wednesday afternoon and provides councils with a brief market update for both short and long term borrowing …PageInvestor information
… The following key documents are available in this section. … Investor information …Page