NAB achieves carbon neutral status (with carbon offsets)

National Australia Bank (NAB) is now one of Australia's largest carbon neutral companies after implementing a program of energy efficiency that began in 2007 in conjunction with carbon offsets from accredited providers.

Gavin Slater, Group Executive Group Business Services, said in 2007 NAB recognised the importance of acting to address its impact on the environment, and that today NAB was proud to have reached the milestone of carbon neutrality.

"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," Mr Slater said.

While NAB's carbon neutral status has been attained through the purchase of carbon offsets from accredited suppliers (an area still surrounded by controversy) the bank has implemented many energy saving and carbon reduction initiatives for which businesses big and small can emulate. 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 tri-generation 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," Mr Slater said.

By David Olsen on Thursday, 30 September 2010