NAB has achieved the highest score for the banking and financial services sector in Australia in the Dow Jones Sustainability Indices (DJSI), as measured by the S&P Global 2021 Corporate Sustainability Assessment.
NAB achieved a score of 86/100 among the top ten banks globally and in the top 98th percentile of the 245 banks assessed.
Key areas of focus that contributed to NAB’s result included:
- Climate Action: Progress made against NAB’s climate strategy, including NAB’s goal to align its lending portfolio to net zero emissions by 2050. It also includes NAB’s ambition to provide $70 billion in environmental financing by 2025 and emissions reductions for NAB’s owned operations.
- Focus on NAB colleagues: Investment in NAB’s Professional Banking Fundamentals training across 32,000 colleagues and bespoke Distinctive Leadership training for all leaders at NAB.
- Digitisation: Improving the customer experience through simple and digital products. Also, transparency in customer experience measures through disclosure of NAB’s Strategic Net Promoter Score (NPS).
- Indigenous Business: NAB’s focus on supporting Indigenous businesses and the 18-year partnership with Good Shepherd Australia New Zealand to support access to financial services.
The DJSI are float-adjusted market capitalisation weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria.
The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. NAB has participated in the index since 2003. Scores and percentiles referenced in this article are as at 12th November 2021.
The index family comprises of global, regional and country benchmarks.
Notes to editors:
More detail around NAB’s ESG performance are in the 2021 Annual Review
- NAB announced $56.3 billion cumulative environmental financing towards its $70 billion target by 2025
- Over 31,000 customers experiencing financial hardship were assisted
- $1.8 billion in cumulative affordable and specialist housing financing was provided towards its $2 billion commitment by 2023
- NAB was the first Australian member bank of the United Nations’ Environment Programme Finance Initiative’s (UNEPFI) Collective Commitment to Climate Action. Aligned with this membership, NAB is working with 100 of our largest greenhouse-gas emitting customers as they develop or improve their low carbon transition plans by 2023.
- NAB has capped oil and gas exposure at default at USD$2.4 billion and will reduce the Group’s exposure from 2026 through to 2050, aligned to the International Energy Agency (IEA) Net Zero Emissions 2050 scenario.
- Provided $5.6 million in grants and support to customers, colleagues and communities to provide support before, during and after natural disasters.