NAB Response to IPCC Sixth Assessment Report

Share

Share

The IPCC Sixth Assessment Report addresses the most up-to-date physical understanding of climate change, bringing together latest advances in climate science and global climate simulations.

Climate change is widely recognised as a systemic financial risk. NAB is expected to manage climate risk and make public disclosures in line with the Task Force on Climate-related Financial Disclosures’ recommendations.

We are adapting how we manage our portfolio, aligned with the Paris Agreement, striving to keep global temperature increases to no more than 1.5 degrees Celsius above pre-industrial levels while supporting security of energy supply in Australia and New Zealand and working with customers, related suppliers and their employees and communities in which they operate.

NAB is the only Australian bank to have signed the UN Environment Programme Finance Initiative Principles for Responsible Banking’s Collective Commitment to Climate Action. This commits us, within three years of signing up (by November 2022), to set and publish sector-specific, scenario-based targets for Paris Agreement portfolio alignment.

As we’ve said previously, NAB will review our targets each year against the latest global climate scenarios and relevant technology developments.

Environment

SEE ALL TOPICS

Related Articles

  • Climate

Priority areas of climate risk identified

Agriculture, health, critical infrastructure, water resources and the economy, trade and finance are among 11 priority areas at significant risk from climate change, the inaugural National Climate Risk Assessment (NCRA) has found.

  • 22.03.2024
  • Time to read 3 min read
  • Business

NAB reports record jump in business finance for EVs as uptake accelerates

New data from Australia’s largest business bank shows businesses are driving the switch to electric vehicles with the value of the bank’s EV loan book growing by a record 224% year-on-year.

  • 29.02.2024
  • Time to read 3 min read
  • 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

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.