Priorities

We are focusing our investment in three key areas

Using our strengths as a business, an employer and an active community member, we’re focused on taking action on important issues where we can make the greatest impact: financial inclusion and resilience, social cohesion and environmental wellbeing.

Financial inclusion and resilience

For over a decade, we have actively sought to build financial inclusion. In Australia we have assisted over 440,000 people with microfinance loans since 2005, in partnership with Good Shepherd Microfinance. This continues to be a core focus for us. In addition, we are now increasing our understanding of financial resilience, and how prepared Australians and New Zealanders are to recover from a financial shock.

This year, we are one of ten ‘trail-blazing’ organisations committed to establishing a Financial Inclusion Action Plan. This plan outlines how we seek to address financial exclusion by:

  • Making banking more accessible through our products and services, building capability and providing hardship assistance.
  • Providing dedicated microfinance products and services for those excluded from mainstream banking.
  • Improving customer outcomes through research and advocacy that assists decision-making and informs our work with partners.

2016 performance

  • Over 55,000 low-income Australians assisted with microfinance products and services, in partnership with Good Shepherd Microfinance.
  • Supported over 23,000 loans across Australia and New Zealand at a value of over $25.6 million.
  • 25,000 microfinance loans provided, at a value of over $20 million, to support Indigenous Australians since 2008.
  • Committed an additional NZ$50 million to support the growth of our community finance programs in New Zealand.
  • Launched the Financial Resilience Framework in partnership with the Centre for Social Impact.
  • We announced our commitment to open two new ‘Good Money’ stores - our first in Queensland - in Cairns and the Gold Coast in 2017.
  • Assisted over 21,000 customers in financial hardship - 93% are back on track within 90 days of receiving assistance.
  • We continue to take a leadership position on Shared Value, and were the first and only Australian company to have been included in Fortune Magazine’s ‘Change the World List’ for the customer-focused redesign of our approach to collections in NAB Assist.

Social cohesion

We invest in the industries, infrastructure and businesses that form the backbones of our communities. We also aim to build stronger, more connected and cohesive communities by making a difference on the issues that matter and where we can make significant impact. This includes issues such as gender inclusion and family violence, closing the gap for Indigenous Australians and managing our overall community investment.

2016 Performance

  • $48.8 million invested in our local communities (including donations, long-term community investments and volunteering).
  • 23,065 volunteer days contributed by our employees across the Group.
  • Ran our seventh consecutive ‘Closed for Good’ volunteer day in New Zealand. 3,266 of our employees volunteered across the country.
  • Launched the Family Violence Assistance Grant to support customers experiencing family violence situations.
  • Provided over $270,000 in donations for victims of crises and natural disasters across Australia.
  • Over $8.6 million has now been contributed by the NAB Foundation in organisations supporting the mental health and wellbeing of Australians.
  • Continued making progress on our 2015-2017 Reconciliation Action Plan:
    • Over 200 Indigenous Australians employed at NAB as at 30 September 2016.
    • Launched a ten-year partnership with CareerTrackers.
    • Recruited 51 school-based trainees, 19 full-time trainees and 18 university interns.
    • 35 trainees accepted permanent roles after graduating from their traineeship.

Environmental wellbeing

A prosperous economy and societal wellbeing is always dependent on a healthy planet. We recognise this relationship, as have a significant and growing number of global business and government leaders, and non-government organisations. It requires us to be effective environmental stewards, so that our use of natural capital assets – and our business – remains sustainable.

2016 Performance

  • We’ve made five climate change commitments that underpin our role in supporting the transition to a low- carbon economy. Since then, we’ve progressed our thinking about the risks and opportunities of operating in a 2°C world and started to deliver on our commitments – see page 27 of our 2016 Dig Deeper report for further information.
  • Provided an aggregate amount of $7.3 billion in financing for lending that will help address climate change and support the orderly transition to a low-carbon economy.
  • Arranged and led the issuance of the $300m Victorian Government Green Bond, the world’s first Climate Bond Standard Certified Green Bond issued by a semi-government authority.
  • Were recognised as a ‘Green Bond Pioneer’ by the Climate Bonds Initiative and London Stock Exchange in February 2016 for NAB’s work in developing the Australian green bond market.
  • Established a science-based emissions reduction target for our operations – consistent with scientific estimates considered to be required to maintain global warming below the two degree threshold. This is the first science-based target set by an Australian company.
  • Became the first bank to become a ‘Corporate Member’ of the Clean Energy Council, the peak body for the clean energy industry in Australia.
  • Initiated ongoing research in partnership with CSIRO, Dairy Australia and the Australian Wine Research Institute – to find appropriate natural capital indicators that link good natural capital management with positive financial performance over time.
  • Were awarded a position on the CDP 2016 Climate A List recognising NAB for climate change leadership and as a world leader for corporate action on climate change.

Achieved five of our six 2014-2016 environmental performance targets to reduce the environmental impact of our operations:

  • 11% reduction in building energy use (against a target of 5%)
  • 12% reduction in building energy related emissions (against a target of 5%)
  • 53% of waste diverted from landfill (against a target of 75%). We missed our waste diverted from landfill target due to an overall decrease in paper usage, thereby lowering amount of waste that could be recycled.
  • 20% reduction in paper use (against a target of 10%)
  • 14% reduction in water consumption (against a target of 5%)
  • 42% of our customers are now signed up for online only statements (against a target of 30%)