Our Environmental Policy includes pledges to use energy and water more efficiently, to recycle more and to increase our customers’ environmental awareness. It also commits us to keeping our operations carbon neutral, which we’ve done since 2011.
To make our operations carbon neutral, each year we calculate the greenhouse gas emissions from our operations and purchase carbon offsets equivalent to our emissions. We report on our emissions and offsets each year in our annual Corporate Report, and have our emissions and offsets checked as part of our assurance process.
We generate more than 10% of our power at our head office with solar panels on our roof. We’re always looking for ways to improve, which is why we’ve committed to switching to 100% renewable electricity by the year 2020. We’ve been exploring innovative ways to make this switch, like participating in the Melbourne Renewable Energy Project.
Ahead of the Paris climate change talks in 2015, Bank Australia made seven commitments as part of We Mean Business, a global platform to demonstrate business leadership on climate action. These commitments have helped shape priorities of our environmental management action plan for the coming years.
Our commitments are:
Adopt a science-based emissions reduction target
We will ensure our emissions are in line with global budgets for limiting temperature increase to under 2°C
Put a price on carbon
We will set an internal price per tonne of carbon and use it in decision making
Commit to 100% renewable power
We will switch our electricity supply to renewable sources
Responsible corporate engagement in climate policy
We will engage consistently and positively with policymakers on climate change
Report climate change information in mainstream reports as a fiduciary duty
We will include information on climate-relevant topics in our Corporate Report
Remove commodity-driven deforestation from all supply chains by 2020
We will stop purchasing products that contribute to deforestation
Reduce short-lived climate pollutant emissions
We will track and reduce emissions of greenhouse gases like hydrofluorocarbons (HFCs)