Since publishing this blog, we've updated the eligibility criteria for our Clean Energy Home Loan. Find out how you can get rewarded with a reduced home loan rate for buying, building or renovating a greener home.
What is a green bank?
There’s no universal definition of a green bank, but for us, being a green bank and banking ethically means making decisions that will protect and benefit people and the planet. As Australia’s first customer-owned bank, balancing purpose and profit is what we do. We live our values – and are guided by our customers – through investing and lending inline with our responsible banking policy. This means we don’t fund harmful industries like fossil fuels, weapons and gambling, and we instead help create positive change through funding our everyday customers to buy their homes, clean energy transition, protecting nature, and social and affordable housing.
Why did Bank Australia win Finder Green Bank of the Year?
Finder recognised our sustainable products (including our Clean Energy Home Loan, which rewards lenders for building, or buying an energy-efficient home) and our low emissions overall. We've also got targets to keep reducing our emissions - our validated, science-based 2030 emissions reduction targets, and our net zero by 2035 target.
The Finder Green Awards exist to recognise sustainability leaders across a broad range of sectors and products. The criteria are rigorous, too, with candidates needing to catalogue their emissions intensity, the amount of waste they generate and recycle, and their renewable energy targets. They also need to prove that their financing doesn’t significantly support fossil fuel projects (which ours doesn’t).
‘A previous winner in this category, Bank Australia stood out with an impressive suite of sustainability focused products, like their Clean Energy Home Loan, as well as low emissions overall. - Finder Green Awards
Sustainable and green banking: we’re aiming for net zero by 2035
It’s time to raise the bar on climate action. We believe 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 as a sustainable bank 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
Funding regenerative products and services is an important part of our contribution to climate action. In 2023, we were financing $954m of lending and investment to clean energy transition and conservation across green property, electric vehicles and green bonds.
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.
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.
As a green bank, 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, which we continue to be. 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. Learn more about what it means to be a B Corp bank.
