Environment

We recognise that our organisation has both a direct and indirect impact on the environment and believe that managing these impacts is an important aspect of sound business management.

Reporting and disclosure

The Group has been measuring and voluntarily disclosing its energy use and greenhouse emissions since 2001, as part of the Greenhouse Challenge Plus program. Participation in this program has driven a range of energy efficiency initiatives across the Group.

As required by the Australian Federal Government's Energy Efficiency Opportunities Act 2006, the Commonwealth Bank of Australia has prepared a report on its actions to reduce energy consumption consistent with the Bank's other sustainability initiatives.

Details of the Commonwealth Bank's activity under in the Energy Efficiency Opportunities program is available in the Bank's Energy Efficiency Opportunity Report 2008.

The Group is also subject to the National Greenhouse and Energy Reporting Scheme (NGERS). As a result of a long history of voluntary reporting, the Group is well placed to meet the NGERS’ mandatory requirements, and is currently revising its data capture and reporting systems to comply with the new legislation.

In 2008 the Group voluntarily reported its greenhouse gas emissions to the Carbon Disclosure Project, an independent not-for-profit organisation that seeks climate-related information from the world’s largest companies on behalf of institutional investors. This was an opportunity to examine more closely the risks and opportunities associated with climate change and to contribute to the international dialogue on disclosure of greenhouse gas emissions. 

 

Environmental policy

The Commonwealth Bank has had an Environment Policy in place since 2001. In 2008 we updated the Policy to more fully reflect our commitment to the environment and the processes we have in place to assess and limit our environmental impacts. View the updated Environment Policy.

Greenhouse gas emissions

The Group occupies approximately 800,000 square metres of office and retail space across Australia, and is committed to continually reducing the environmental impact of these properties.

The Group has an ongoing program of refurbishing and upgrading its retail branch network to deliver significant improvements to lighting and air-conditioning energy efficiency.

The Group is progressively upgrading its office accommodation which includes new modern office premises at Sydney Olympic Park, Sydney’s CBD and Parramatta. These new and upgraded premises will accommodate up to 15,000 people. Environmental performance has been a key consideration for these new buildings.

The Group’s gross greenhouse gas emissions have increased only marginally since 2003, however the size of the Group’s property portfolio has also grown over the period. The ongoing success of the Group’s energy efficiency measures is demonstrated by the fact that greenhouse gas emissions fell by 16 per cent per square metre of floor space between 2002 and 2007 ⁽¹⁾.

	2007-2008 (2)	2006-2007	2005-2006	2004-2005	2003-2004
Greenhouse gas emissions
Total equivalent tonnes of carbon dioxide (CO2-e) (3) (4) (5)	171,738	163,509	165,935	149,781	159,823
CO2-e emissions per Full Time Equivalent staff (tonnes) (6)	5.6	5. 5	5. 6	5. 2	n/a
Energy use
Total (GJ) (7)	734,386	687,839	675,307	608,661	638,819
Total per FTE (GJ) (6)	23.87	22.94	22.79	21.28	n/a
(1) This figure varies slightly from that reported in the April 2008 Sustainability Update due to improved accuracy in calculation methodology. (2) Due to the electricity billing cycle, 18% of 2007-2008 electricity data was estimated to meet publication deadlines. Final data will be provided on the Commonwealth Bank of Australia’s Internet site when available. (3) Total CO2-e emissions consist of emissions relating to consumption of electricity, gas and transport fuel (gasoline and diesel) for domestic retail and commercial properties and waste (i.e. general waste, which is collected from a number of Group occupied properties). (4) For all years CO2-e calculations used the Australian Greenhouse Office (AGO) Workbook conversion factors. (5) CO2-e figures previously reported under Greenhouse Challenge Plus have been restated to reflect full fuel cycle emissions for transport fuels. (6) Full Time Equivalent (FTE) includes only domestic permanent and contractor employees. Offshore employees are excluded. (7) Total energy use consists of consumption of electricity, gas and transport fuel (gasoline and diesel).  Gas and electricity consumption includes all domestic retail and commercial occupied properties, both owned and leased, excluding residential and properties where electricity is on-sold. Transport fuel includes gasoline and diesel fuel purchased for both Group fleet and novated leased vehicles.

Partnering to support the environment

The Commonwealth Bank has partnered with a number of organisations who are working to protect our environment. Find out more.