Attributable to NAB CEO Ross McEwan:

Addressing climate change is not only the right thing to do for our planet, it also presents an important economic opportunity for Australia.

NAB welcomes the certainty this legislation and associated changes will bring, and the strong investment signal it sends to businesses across the economy.

Recent NAB research revealed around $20 trillion of Australia’s spending until 2050 needs to be spent differently for Australia to achieve its emissions reduction goals. Consensus on 2030 and 2050 targets will help deliver this investment in the areas needed most.

Given the solutions do not yet exist for some industries and some customers, it is critical that business, governments, and the broader community work together and co-invest to tackle the challenge. NAB will support our customers and communities through this transition and help fund the investments needed to create a strong and sustainable future for Australia.