Morrison & Co. has secured a sustainability loan for a public-private partnership (P3) that manages three primary schools and two high schools in New Zealand. It is the first sustainability loan for school facilities in New Zealand to be recognized and accredited for its environmental and social credentials.
The NZ Schools III PPP was established in 2017 with the Ministry of Education in New Zealand to design, finance, construct and maintain five new schools in Auckland, Hamilton and Christchurch for 25 years following construction. The new Sustainability Loan of NZ$183.2 million ($205 million) refinances the initial loan to develop the schools, which has reached its five-year term.
The accreditation and verification process undertaken by a specialist certification body, DNV, involved an independent review of the sustainability elements. These included energy efficiency, waste management, green building standards, water management, and social features such as pedes