Nab

NAB, a financial intermediation services company headquartered in Australia, is committed to addressing climate change with several emissions reduction targets.

In 2023, NAB reported total Scope 1, 2, and 3 emissions of approximately 65,515,000 kg CO2e. This included Scope 1 emissions from mobile combustion of about 5,293,000 kg CO2e, and Scope 2 location-based emissions from purchased electricity totalling around 7,451,000 kg CO2e. Their reported Scope 3 emissions were approximately 55,028,000 kg CO2e.

Looking forward to 2025, NAB projects Scope 1 mobile combustion emissions of around 4,975,000 kg CO2e and stationary combustion emissions of approximately 358,000 kg CO2e. Their Scope 3 emissions are projected to be around 78,259,000 kg CO2e for the same year. For 2024, the company estimated Scope 1 mobile combustion emissions at 5,138,000 kg CO2e and stationary combustion at 497,000 kg CO2e, with Scope 3 emissions of about 71,006,000 kg CO2e.

NAB has set a long-term goal to achieve net-zero emissions by 2050 across all scopes. In the near term, the company aims to reduce its Scope 1 and 2 GHG emissions by 51% by 2025, using a 2015 baseline. This includes sourcing 100% of its energy from renewable sources by the same year. Another near-term Science-Based Target aims for a 21% reduction in operational GHG emissions (Scope 1 and 2) by 30th June 2025, also against a 2015 base year. Additionally, NAB has a target for a 72% reduction in market-based Scope 1 and 2 emissions by 2030, compared to a 2022 baseline. For thermal coal, a specific sector target aims for a 100% reduction in Scope 3 emissions by 2030, relative to a 2021 baseline.