Today we have published our updated E&S Framework and climate disclosures as part of our Annual Report, demonstrating our commitment to supporting Australia’s transition to net zero by 2050.
Our E&S Framework provides a reference point on the minimum requirements we have set around climate change, nature and human rights. We review our environmental and social policy settings at least every two years, so that they remain fit for purpose in a rapidly changing environment.
Through the review, we considered the evolving external context, various stakeholder perspectives, and impacts, such as the security of Australia’s energy platform. Our updated E&S Framework maintains a consistent approach to how we manage opportunities and risk around environmental and social issues.
A key change this year is the improved design and structure of the document. Based on feedback from customers, suppliers and our people, we’ve simplified and streamlined the Framework so it’s easier to follow. For example, minimum requirements set by the bank are now grouped by activity, rather than issue type or sector.
We have also expanded our Transition Plan requirements to include clients who derive 25% or more of their revenue from the sale of thermal coal, supporting our climate strategy.
Alex Matthews, Executive General Manager Environmental and Social says, “Making progress on E&S challenges and opportunities is a critical part of building Australia's future economy and we continue to report on our approach and commitments.
“Australia’s abundant natural resources, including critical minerals, wind and solar, and our skilled workforce position us well to strengthen priority supply chains and play a key role in the energy transition.”
As we highlight in our climate disclosures, CBA is supportive of an affordable and reliable energy transition that is inclusive and considers the needs of Australian communities. To deliver this, we need efficient regulation to help accelerate energy supply and contribute to productivity. We remain committed to helping our customers and supporting Australia's transition to net zero.
Further information on environmental and social related targets, goals, actions and progress can be found in our 2025 Annual Report.
