TMNZ’s Position as a For-Purpose Business
In 2019, Tax Management New Zealand (TMNZ) founders Ian and Wendy Kuperus made the decision to commit all profits from TMNZ to philanthropic initiatives through its foundation Whakatupu Aotearoa, well ahead of other more well-known examples. M2 Women talks to TMNZ about its role as an industry leader and pioneer in corporate social responsibility.
Whakatupu Aotearoa Programme Director Yi Petrus works closely with Mindful Fashion’s Chief Executive Jacinta FitzGerald, providing catalytic funding to support Mindful Fashion’s initiatives to advance a low emissions and circular future for fashion in Aotearoa.
“They approached us with their vision, and together we discussed what success would look like. The result was a roadmap that would help businesses understand climate change and utilise existing tools to address the issue. We provided seed funding for their operational costs, and they managed to attract funding from the Ministry for the Environment to implement their project. This is an example of how we support great ideas, providing not only financial assistance but also guidance on business plans, board decisions and more. The outcome is a solid roadmap for the fashion industry, and the Ministry for the Environment recognises the initiative as a valuable part of their climate emissions plan.”
Speaking about the challenges in obtaining funding for environmental charities in NZ, Yii says,
"It is harder to get funding for environmental charities. In New Zealand, around 2% of philanthropic funding goes towards environmental and conservation efforts, while most of the 98% goes into social issues. This funding gap became even more pronounced when COVID-19 hit. (Source: JBWere New Zealand Cause Report 2021.)
This appreciation has motivated us to initially focus more on climate change-related initiatives. We believe that a healthy environment leads to healthy people and communities, so we have taken a catalytic approach to propel ideas, help demonstrate their success and transition to other funding sources such as industry or government.”
TMNZ are the tax pooling originators, here for all New Zealand businesses (and their accountants), making tax payments easier and saving clients' money. Now, after 20 years they’re reimagining what it means to be truly purpose-driven, by investing 100% of their profits back into a restored and thriving Aotearoa, through their philanthropic partner, Whakatupu Aotearoa Foundation.