Our progressive approach to banking represents a positive future. That’s why we’re not afraid to lead and to challenge the way people think about the role banks play in building a strong, fair nation and a healthy planet.
We have done this by:
- investing in the Bank Australia Conservation Reserve, which is a world-first environmental project for a bank that is collectively owned by our customers
- using the Conservation Reserve to offset the environmental impacts of new home constructions we finance
- staying carbon neutral since 2011 and making sure our house is in order by minimising the environmental impact of our buildings and the activities of our staff. Our Environmental Policy guides this work
- committing to action on climate change. We are the first bank in the world to sign onto all seven climate commitments under the We Mean Business climate leadership platform
- promising to never make any loans to the fossil fuel industry, including coal and coal seam gas projects.
We’re taking action to create a healthier planet through our operations
We know our business has direct and indirect impacts on the environment and we’re working hard to tackle these.
That’s why we’re reducing our emissions, using energy and water more efficiently and reviewing our supply chain to avoid deforestation.
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. View our 2018 carbon neutral summary here.
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.
How we're running on 100% renewable electricity
- Bank Australia’s entire Australian operations are running on renewable electricity from 1 April 2019 for an indefinite period. Our electricity consumption will be in line with our scope 2 electricity consumption reported for our carbon neutral claim under the National Carbon Offset Standard (using the operational control method to define our organisational boundary).
- We will be using three methods of renewable electricity consumption (as per the RE100 Technical Criteria):
- Direct consumption from on-site installations owned by Bank Australia (from solar panels at our head office, contact centre and two branch locations)
- Direct procurement from a grid connected generator (purchase of large-scale generation certificates directly from the generator under a power purchase agreement)
- Unbundled energy attribute certificate purchase (purchase of large-scale generation certificates from our electricity retailers)
- We will publish details of our renewable electricity consumption each financial year as part of our environmental management reporting in our annual corporate report
Ahead of the Paris climate change talks in 2015, Bank Australia made seven commitments as part of We Mean Business, a global platform to demonstrate business leadership on climate action. These commitments have guided our action so far.
Adopt a science-based emissions reduction target
We will ensure our emissions are in line with global budgets for limiting temperature increase to under 2°C
Put a price on carbon
We will set an internal price per tonne of carbon and use it in decision making
Commit to 100% renewable power
We will switch our electricity supply to renewable sources
Responsible corporate engagement in climate policy
We will engage consistently and positively with policymakers on climate change
Report climate change information in mainstream reports as a fiduciary duty
We will include information on climate-relevant topics in our Corporate Report
Remove commodity-driven deforestation from all supply chains by 2020
We will not purchase products that contribute to deforestation
Reduce short-lived climate pollutant emissions
We will track and reduce emissions of greenhouse gases like hydrofluorocarbons (HFCs)
More about Bank Australia
Learn about B Corp certification and the ways we hold ourselves to the highest ESG standards.
Meet our Community Customer Grant recipients.
Read about the impact made by the collective power of clean money.