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Environmentally friendly banking and ‘green banks’: Australia

August 11, 2023
May 5, 2022

One of the most powerful things you can do as an individual to protect our planet is to move your money to a green bank: meaning a bank that genuinely cares about the environment. Discover how our Clean Money promise, offices powered by 100% renewable energy, commitment to achieving net zero emissions by 2035, and award-winning Clean Energy Home Loan are all helping create the future that Australians deserve.

What makes Bank Australia a green bank?

We’re the only bank in the world to own a conservation reserve, and we purchased it on behalf of our customers. It’s one way we’re using the business of banking to create a healthier planet. Our reserve covers 2117 hectares and is home to 225 native plant and 234 native animal species.

We're a leading voice on corporate conservation innovation to draw down carbon from the atmosphere, while protecting and preparing our conservation reserve for a warmer climate.

Private land conservation is an important path forward to protecting more of the precious environment from development forever. We’ve been protecting land on our conservation reserve since 2008, and we want to share what we’ve learned to show that this is something other landholders in Australia can do too.

Environmentally friendly banking, for real

We run on 100% renewable electricity

We have solar panels on our head office in Melbourne, and national Contact Centre in the Latrobe Valley. Plus, we have a 10-year agreement with the Crowlands Wind Farm as part of the Melbourne Renewable Energy Project.

We’ve been carbon neutral since 2011

We measure, reduce and offset our greenhouse gas emissions every year and we’re certified carbon neutral by the National Carbon Offset Standard. 

We’ll reduce our emissions by 16% by 2025

We used science-based methods to work out how much we need to reduce our emissions from gas, the bank’s cars and electricity to do our bit to keep global temperature increase below 2 degrees.

Sustainable and green banking: we’ll hit net zero by 2035

It’s time to raise the bar on climate action. We know that 2050 is too late, and that our customers care deeply about taking decisive action.

Our commitment to achieving net zero emissions by 2035 across our operations and lending portfolio is the most ambitious of any Australian bank. 

In our climate action strategy, reducing emissions is an essential first step. We’ve also realised our role is supporting communities in Australia to respond to climate change in a way that’s regenerative and focused on a just transition.

Our climate action strategy also focuses on how we will:

  • work with our customers to reach net zero emissions in our operations and portfolio by 2035
  • finance regenerative projects and services
  • help people reduce their emissions
  • support First Nations voices to lead the way on climate action

As a bank, funding regenerative products and services is an important part of our contribution to climate action. In 2021, we were financing $400m of lending and investment to clean energy transition and conservation across green property, electric vehicles and green bonds. We’ll now be working to grow that to $1.5b by 2025.

We offer award-winning green home loans

Our Clean Energy Home Loan was designed to encourage customers to build or buy homes that don’t have as much of an impact on our earth. We’re always working to improve this, including launching our Eco Plus option that takes us a step closer to net zero homes.

Aligning your banking with your environmental values

Lots of people don’t realise that the money in your bank account doesn’t just sit there. Banks use it to lend and invest, and the industries they invest in can do good, or harm. 

Our clean money promise is underpinned by our responsible banking policy

Banking with us means your money won’t be used to invest in fossil fuels, live animal export, weapons or gambling. And it will support clean energy transition, community projects and protecting nature. 

We also became an accredited B Corp bank in 2020. Certified B Corporations are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose.

Keen to move to a green bank today?

Join over 180,000 Australians whose money is making a positive difference to the lives of people and the planet. It only takes five minutes to join us. All you need is your drivers licence or passport, and a Medicare card.

Join now

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