"The Bank’s approach to climate change is being embedded in our strategy and aligned with our purpose – building a brighter future for all. One of our priorities is to play a leading role in supporting Australia’s transition to a modern, resilient and sustainable economy."
We have been disclosing our progress, performance and plans in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) since 2018. This year the Bank has published its first standalone Climate Report in line with the 11 TCFD recommendations.
Given the significance of Environmental and Social issues, the Board has oversight for environmental related risks and opportunities, including climate and biodiversity.
Climate change exposes our communities and the Bank to a range of acute and chronic physical risks, such as increased extreme weather events. Not addressing climate change poses transition risks to society.