The financial industry plays a huge role in shaping the world we live in and the future we’re collectively creating. Bank Australia’s commitment to the clean money movement is all about using finances as a force for good. It’s about responsible banking that says ‘no’ to investing in harmful industries (like fossil fuels, weapons and gambling) and an emphatic ‘yes’ to investing in clean energy transition, sustainability projects and our customers.
That’s why we’re so pleased to be recognised – for the third time – as Green Bank of the Year in the Finder Green Awards 2023.
“This award is a testament to Bank Australia’s commitment to our customers,” said Managing Director, Damien Walsh. “As a customer-owned bank, we listen to our customers and their concerns to inform our efforts. We hear loud and clear that our customers want ambitious action on the environment and climate, and we’re committed to making this happen.”
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
Finder rewarded our sustainable products (including our Clean Energy Home Loan, which rewards lenders for building or buying a planet-friendly, energy-efficient home) and our low emissions overall: a result of our validated, science-based 2030 emissions reduction targets, and our Net Zero by 2035 target. As part of our climate action strategy, we’ve partnered with Seed Mob, Australia’s first Indigenous youth climate network, and we will stop offering car loans for new fossil fuel cars from 2025.
“We know urgent climate action is needed by individuals and the business community and we think decisive leadership from business can help catalyse the action our customers want to see. That’s why we set a goal of net zero by 2035, making us the most ambitious bank in Australia on climate action.
Along with sustainability, we’re also focused on growing our $1.4 billion of impact finance assets and supporting our community customers. In 2023 alone, Bank Australia issued grants for 16 community organisations totalling over $295,000. You can dive into these stats and read more about our impact work in our latest Impact Report.
The best part? As a customer-owned bank, this award isn’t just for us – it belongs to our 185,000+ customers who have joined the clean money movement and are funding the solutions, not the problems. Cheers to that.