National Australia Bank and coal

The National Australia Bank is one of the largest funders of coal power stations and coal projects in Australia.

Policies
National Australia Bank policy statements:
 * Carbon Disclosure Project
 * Equator Principles
 * Global Reporting Initiative
 * UNEP Finance Initiative

In addition to this, the National Australia Bank developed its own Environmental Policy. This policy applies to both the direct and indirect environmental impacts of the bank’s activities. With regard to the indirect impacts of the bank’s activities the policy states that the bank is committed to continuously review and improve its lending policy which includes environmental risk assessments and to, wherever possible, support investments in socially responsible investment products. It also states that the bank will try to actively offer its customers ‘green’ choices and assist its clients to operate their businesses in an environmentally sustainable manner.

National Australia Bank funding on coal projects
According to a report done in 2010 for Greenpeace, over the past five years National Australia Bank has invested A$632.9 million in coal mining projects, A$ 382.4 million in coal-fired power plants and A$ 139.9 million in renewable energy in Australia. In this period, the National Australia Bank did not invest in port expansions. The following tables summarize the bank’s investments in the coal sector and the renewables sector respectively.

Investments of National Australia Bank in the Australian coal sector

Table 8 Investments of National Australia Bank in the Australian renewables sector

Related SourceWatch articles

 * Australia and coal
 * Financing coal power stations in Australia
 * ANZ and coal
 * Commonwealth Bank and coal
 * Westpac and coal