NAB has been named as one of the world’s largest issuers of bonds that contribute to addressing climate change, ranking number 10 in the Climate Bonds Initiative’s list of top global issuers of certified climate bonds.
NAB and its subsidiaries have issued approximately A$4.1 billion of green bonds and green deposits since 2014 that have been certified under the Climate Bonds Standard to be consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. This puts the bank at number 10 in cumulative issuers globally.
NAB is the only Australian issuer in the top 10 list, joining sovereigns Chile and the Netherlands and French rail operator Société du Grand Paris.
NAB Group Executive, Corporate & Institutional Banking David Gall said the ranking demonstrates NAB’s global leadership in the green investment market and its willingness to innovate in sustainable financing.
“NAB is helping to forge new paths for climate bonds in Australia and around the world,” Mr Gall said.
“Directing capital towards sustainable projects is a long-term view. We are making and influencing decisions now that will help customers and communities prosper in the future.”
Sean Kidney, CEO Climate Bonds Initiative said NAB’s spot in the top 10 reflects its stand out position among global banks in supporting market development and climate-based investment.
“NAB has been an early, long term and consistent leader in green finance, supporting best practice issuance in Australia and then offshore markets,” Mr Kidney said.
“NAB has played an influential role in the adoption of the Climate Bonds Standard as an internationally accepted quality measure for green issuers and investors.”
NAB has committed to arranging A$70 billion in environmental finance by 2025. More than A$17 billion has already been arranged to support green infrastructure finance, capital markets and asset finance, and a further A$16 billion is supporting mortgage lending for energy efficient residential housing.
Mr Gall said supporting the Climate Bonds Standard is important because it is a common language for investors and issuers that articulates the value of green investments and makes it easier to support climate action.
“NAB is focused on constantly helping our customers adapt and improve the sustainability of their businesses. We will continue to embrace innovation so that green investments can go from strength to strength.”
Climate Bonds Initiative is an international organisation working solely to mobilise the $100 trillion bond market for climate change solutions. Its Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments that prioritise investments genuinely contributing to addressing climate change.
