NAB Responds: Carmichael Coal project statement
NAB is not involved and has no plans to be involved in any financing for the Carmichael coal mine.
NAB looks at all financing project proposals on a case by case basis and assesses a potential borrowers capacity to repay, management, reputation, industry fundamentals, legal, tax, insurance and environmental, social and governance (ESG) risks.
We have a role to play in transitioning to a low carbon economy. We also believe we have the responsibility to fund projects that will secure Australia’s energy needs now and into the future and coal has an important role to play in this.
NAB is the largest arranger of project finance to the Australian renewable sector. We have arranged $1.87 billion worth of loans for renewable energy projects over the last eight years.