Commonwealth Bank's Sustainability Action Tool now integrates offers from compostable food packaging organisation BioPak, and energy insights from start-up EnergyFlex, to better help small businesses embed sustainability into their operations, saving money and reducing the cost of doing business.
Launched in 2023, CBA's Sustainability Action Tool is the first of its kind offered by an Australian bank, specifically designed to help more small businesses improve environmental outcomes and reduce operating costs by providing resources to help identify sustainable choices.
The latest enhancements include:
- a 10 per cent discount1 on BioPak's certified home and industrially compostable packaging products.
- access to EnergyFlex's new app which can help businesses save money by analysing energy consumption data and suggesting changes that reduce their energy use and costs.
"We know through our research that the top pain points for small businesses seeking to embed sustainability into their business model are costs, finding sustainable suppliers and a lack of time and resources," said CBA's General Manager for Everyday Business Banking Kerryn Saward. "Our Sustainability Action Tool addresses these pain points - instead of spending their limited time visiting different websites, business owners can simply answer a few quick questions and access a range of information that best suits their needs in one easy-to-navigate resource.
EnergyFlex CEO Garry Harding, who co-founded the company with fellow Royal Australian Air Force veteran Craig Phasey, said using the sustainability tool would help deliver better financial and environmental outcomes for customers.
"The ever-increasing cost of energy adds real pressure to any small business and impacts the entire supply chain. We are very excited to work with CBA's Sustainability Action Tool and help small businesses drive down cost and carbon emissions by better understanding the renewable energy transition," said Mr Harding.
Founded in 2006, BioPak is a leader in compostable foodservice packaging. "We're incredibly proud to be part of this project helping businesses work towards circular economy solutions that put the planet first," said CEO Gary Smith. "We are witnessing a shift in attitudes and significant momentum with regards to sustainability, with so many SMEs looking to find meaningful ways to help minimise their environmental impact."
The expansion of the tool comes ahead of CommBank SmallBiz Week 2024 on 28 - 30 May, where business owners, government agencies and industry leaders will come together to explore critical issues affecting the sector, including sustainability.
