How Australia transitions matters, and we need to get it right



In an address to the International Governance Leadership Conference on Monday, 28 August, NAB Chair Philip Chronican discussed the opportunities in decarbonisation and how NAB will play a role in the transition to net zero.

“Climate change is a key focus for Boards. As one example, the National Australia Bank Board acts to ensure the Bank sees long-term opportunities and challenges clearly and acts appropriately,” Mr Chronican said.

In his address, Mr Chronican also discussed NAB’s ‘All Systems Go: Powering Ahead’ climate research released last week.

“If all Australia does is the minimum necessary to hit our targets, by 2050 Australia risks becoming a materially poorer country than we are today,” Mr Chronican said.

“Avoiding this calls for significant coordination of public and private planning and investment to seize Australia’s share of global demand for low emissions energy and minerals as economies become net-zero.”

The report highlights there is a $435bn economic opportunity for Australia if it transforms its industrial base and establishes a clean energy platform to drive export growth.

“The task ahead is immense, but crucial,” Mr Chronican said.

“Australia needs to act quickly to ensure we are equipped with the people, finance and technology our country needs to successfully meet our decarbonisation targets and to maximise the economic benefits available to us. “

Read the full address.



Media Enquiries

For all media enquiries, please contact the NAB Media Line on 03 7035 5015

Download media content

Philip Chronican International Governance Leadership Conference Speech

PDF 142 KB Download

Related Articles

  • Climate

Agri opportunities in low-carbon food export

The nation’s agricultural sector should benefit from emerging opportunities in low-emissions food and fibre exports as other countries shift away from high-emitting alternative products, NAB has said in a submission to the Federal Government’s consultation on the Agriculture and Land Sectoral Plan.

  • 23.02.2024
  • Time to read 4 min read
  • Climate

Aria Property eyes Brisbane’s green scene

When the eyes of the world pan out over Brisbane at the 2032 Olympics, it’s the fervent wish of Aria Property development director Michael Hurley that they will see a city blanketed in greenery and patched with forested buildings.

  • 23.02.2024
  • Time to read 5 min read
  • Business

Electrifying Growth: surge in EV finance as businesses drive adoption

The take-up up of electric vehicles is booming across businesses of all shapes and sizes, with purchasers relying on incentives, lower running costs and the emergence of a secondary market to help offset a generally higher initial outlay.

  • 16.02.2024
  • Time to read 6 min read

Quick links

Environment and sustainability

Find out how NAB is adopting a sustainable approach to managing our business, and helping our customers to do so.