Fiona Nixon Head of Corporate Affairs
Bank Australia has joined a growing number of businesses around the world making significant commitments to address climate change.
Bank Australia is the first bank in the world to commit to all seven climate commitments under the We Mean Business Commit to Action climate leadership platform; and joins Origin Energy who was the first to sign on to all seven commitments.
According to the Managing Director of Bank Australia, Damien Walsh, the bank is making all seven commitments as part of its long standing commitment to responsible banking.
“Our approach to banking includes a vision of a healthier planet, and we are determined to do what we can to see Australia transition to a low carbon economy.
“We are already well on the way to meeting these commitments and see this as good opportunity to stretch ourselves further by looking deeper at how our business impacts the planet including addressing climate change and responding accordingly.”
The climate commitments require a series of strategic and operational decisions by businesses to contribute to the transition to a low carbon economy. They are part of an international framework with more than 240 companies and 140 institutional investors making commitments.
“The bank has a track record of more than a decade of efforts to reduce the environmental impacts of its business. We became carbon neutral in 2010 and have reduced carbon emissions by 18.1% since that time,” Damien said.
The We Mean Business climate leadership commitments encompass seven areas, including: commitment to adopt science-based carbon emission reduction targets; putting a price on carbon; procuring 100% of electricity from renewable sources; reporting climate change information in mainstream reports; responsible engagement in climate policy; removing commodity-driven deforestation from supply chains by 2020; and, reducing short-lived climate pollutants.
The Australian Climate Leadership Summit is an initiative of CDP, in collaboration with WWF, EY and the Prince of Wales’ Corporate Leaders Group with the support of the We Mean Business coalition and the City of Sydney.