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Responsible Investing

NZ Super invests US$100m in climate tech fund

The New Zealand Super Fund has committed US$100 million to the Fifth Wall Climate Technology Fund, an early-stage fund managed by leading real estate technology venture capital firm Fifth Wall.

Friday, November 12th 2021, 9:26AM

The investment follows the commitment made by the fund last month that it would increase its investments in climate solutions as part of its drive to achieve net-zero emissions by 2050 or sooner.

Climate change is a significant and under-addressed challenge for the property sector and Fifth Wall seeks to invest in new technologies to decarbonise the global real estate industry.

In the US, for example, real estate is responsible for 13% of GDP, but 40% of carbon emissions.

Head of External Investment and Partnerships for the Guardians of New Zealand Superannuation, Del Hart says they're excited about the possibilities new technologies present for the real estate sector, which by some metrics is the largest asset class in the world, and consumes around 40% of the world’s energy.

"In addition to delivering attractive returns, we expect this investment to be a ‘positive’ one, and will measure the decarbonisation impact it has over time.”

Founded in 2016 and based in Los Angeles, Fifth Wall is a Certified B Corporation and is the largest venture capital firm focused on technology innovation for the global real estate industry.

With approximately $2.5 billion in commitments and capital under management, Fifth Wall pioneered the category that is today called “Proptech” and has emerged as the most active and synonymous venture capital firm within the category.

Co-founder and managing partner at Fifth Wall, Brendan Wallace, says NZ Super’s investment symbolises the massive opportunity which lies ahead for climate tech for the global real estate industry.

"Real estate is the keystone industry in decarbonising the economy and I hope NZ Super Fund’s $100 million commitment encourages other real estate investors and operators to step up and begin investing in climate tech required to decarbonise the real estate industry.”

To date, Fifth Wall has raised more than US$300 million towards a targeted fund size of US$500 million for the Climate Technology Fund.

Today, Fifth Wall is backed by more than 70 investors from 15 countries, connecting many of the world's largest owners and operators of real estate with the entrepreneurs who are redefining the future of the built world.

Tags: Climate Change NZ Super NZ Super Fund responsible investing

« Investors in a race to zeroWhat went well at COP26 (and what wasn't so good) »

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AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
Basecorp Finance 6.45 - - -
Bluestone 5.29 7.49 7.59 -
BNZ - Classic - 4.55 5.25 5.45
BNZ - Mortgage One 5.55 - - -
BNZ - Rapid Repay 5.55 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans 6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.70 5.20 -
Heartland Bank - Online 4.00 3.85 4.70 4.84
Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 4.29 5.09 5.35
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
Lender Flt 1yr 2yr 3yr
SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - 4.19 - -
The Co-operative Bank - Owner Occ 5.45 4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 4.79 5.69 5.95
TSB Bank 5.59 5.14 ▼5.79 6.15
TSB Special 4.79 4.34 ▼4.99 5.35
Unity 5.65 4.80 5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.54 - - -
Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

Last updated: 19 May 2022 10:42am

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