Westpac NZ Enters Three-Year Partnership to Support Development of Sustainable Marine Economy in New Zealand

MT Newswires Live2025-12-17

Westpac NZ (ASX:WBC, NZE:WBC) entered a three-year partnership with the Nelson Regional Development Agency and Kernohan Engineering to support the development of a sustainable marine economy, according to a Wednesday statement.

Westpac and the Nelson Regional Development Agency will fund the oversight and coordination of The Blue House hub at the Nelson Port and Marina, which will provide administrative support for start-ups and businesses transitioning to sustainable ocean activities.

Westpac's economics team had earlier estimated that marine activity currently contributes at least NZ$10 billion to New Zealand's economy, but that had the potential to rise to NZ$14 billion by 2035.

"Helping customers shift to a sustainable blue economy is key to meeting global market requirements, boosting regional growth, and safeguarding our oceans," Westpac NZ Managing Director Institutional & Business Banking Reuben Tucker said.

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