Te Teo is the foundational pillar of our work. Drawn from the te ao Māori concept of a hitching stake, Te Teo underpins and supports the delivery of our pou through robust governance, good financial management and identifying and mitigating risk.
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Engaging with communities
Goals and targets
Here’s what we want to achieve for Te Teo over the short and long-term.
Goals and targets FY25
- Enterprise risk management - At least a third of FY25 business
plan initiatives include uniform risk assessment, Risk Appetite
Statement, and action plan. - Financial stability - Maintain our existing S&P credit rating (BBB).
- Financial stability - Secure regulatory settings that enable us to
fund and deliver our strategy. - Sustainable governance - Minimum of two ESG professional
education sessions undertaken by our Governance Board. - Sustainable governance - Undertake an annual review of
the performance of the Audit and Risk, Regulatory and Asset
Management, Treasury and HR and Remuneration Committees’
performance against their Charters, and the Board’s performance
against the Health and Safety Charter.
- Enterprise risk management - At least a third of FY25 business
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Sustainable governance, financial and risk management foundations
What we’ve done FY24
We’ve been making progress towards our goals and targets. Here’s what we worked on between 1 April 2023 and 31 March 2024.
What we've done FY24
- We implemented a refreshed enterprise risk management
framework through the delivery of 11 risk deep dives, aligned to
our four strategic priorities and assessed in a consistent manner
using environmental, social, governance and operational risk
criteria. This provided a modern approach to risk, aligned with our
strategy processes and integrated across the business.
- We implemented a refreshed enterprise risk management
Unlocking green finance
Our mahi: During FY24 we established a Green Finance Framework to demonstrate that we manage our electricity assets while meeting rigorous climate mitigation, adaptation and resilience standards. The Framework supports our Climate Bonds Initiative (CBI) certification which is used to access sustainability-linked green loans and bonds. Our Framework is just part of our sustainability journey and commitment to enabling the sustainable energy transition.