NAB achieves carbon neutrality

National Australia Bank (NAB) has announced that it has fulfilled its commitment to become carbon neutral by September 2010. In so doing it has become one of Australia’s largest carbon neutral companies. NAB’s key operations in regions around the world have played a part in meeting this commitment.

Gavin Slater, Group Executive Group Business Services, said that in 2007, NAB recognised the importance of acting to address its impact on the environment.

He said, “... I want to especially acknowledge NAB’s employees who have been instrumental in delivering our carbon neutral program. It is as a result of the passion and dedication of our employees over the last three years that we have been able to really bring to life NAB’s initiatives to address the impact of our operations on the environment.”

NAB’s process for achieving carbon neutrality has involved:

• Defining and measuring NAB’s carbon inventory or ‘footprint’
• Reducing NAB’s greenhouse gas emissions through energy efficiency and demand management
• Avoiding greenhouse gas emissions by purchasing energy from renewable sources where practicable
• Offsetting remaining greenhouse gas emissions by purchasing quality accredited carbon offsets
• Verifying and reporting on its progress, including by obtaining external assurance

“NAB’s primary focus in achieving carbon neutrality has been on energy efficiency, particularly in Australia, which is the group’s most significant business region. Since 2006, NAB has delivered an efficiency program which has resulted in Australian savings of around 60,000 tonnes of greenhouse gas emissions per annum. This is equivalent to the annual emissions of about 13,500 cars,” Slater said.

Initiatives that formed part of this efficiency program include environmental performance upgrades at 350 branches and business banking centres (including adjustments to heating, cooling and lighting), sustainable office refurbishments in Melbourne, Sydney, Perth and Adelaide, establishment of a trigeneration plant at NAB’s major Australian data centre (which uses gas as a cleaner source of generation and captures excess heat to power cooling and heating equipment), and increasing the number of low-emission vehicles in the business car fleet.

“NAB’s aim is to implement additional efficiencies in its operations by further reducing our use of energy, as well as waste, water and paper usage. We are also keen to continue to grow our renewable energy project finance portfolio and provide financial solutions to customers to support their uptake of solar hot water and solar power systems,” Slater said.