NAB today announced a milestone in its clean energy journey, having successfully closed 150 renewable energy transactions around the world and committed over AUD$11.5 billion since 2003.
NAB has financed over 26GW of renewable energy capacity globally, which once fully operational, equates to producing enough electricity to power all average residential homes in Australia.
NAB Group Executive Corporate & Institutional Banking, David Gall, said for almost two decades, NAB had worked in partnership with customers to advance practical solutions to climate challenges and support the energy transition.
"We are the only Australian bank to have signed the United Nations Environment Programme Finance Initiative's Collective Commitment to Climate Action. This means we are aligning our business operations and lending portfolio to achieve net zero carbon emissions by 2050," Mr Gall said.
"This has to be a considered and planned transition across the world, with many different factors at play. But there is tremendous opportunity here to transform how we produce and consume energy.
"That's why we will continue to invest and support the construction and operation of renewable energy projects as the world transitions to a new energy mix," he said.
NAB is the number one Australian bank for global renewables transactions[1] and the 20th largest lender to the renewable energy industry in the world in 2020.[2]
[1] Bloomberg NEF Country Profile for Australia – Top Renewable Energy Players (2004 to 30 June 2021). Cumulative totals are in USD as at 30 June 2021. Totals do not include large hydro.
[2]Rankings based on IJ Global League Table, MLA, Renewables, 12 months ending 31 March 2021.
