{"id":45738,"date":"2020-12-15T05:46:36","date_gmt":"2020-12-14T19:16:36","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=45738"},"modified":"2020-12-15T05:46:36","modified_gmt":"2020-12-14T19:16:36","slug":"nab-renewable-electricity-mb1799","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/","title":{"rendered":"NAB Takes Another Step Towards 100% Renewable Electricity"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone size-full wp-image-45739\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables.jpg\" alt=\"National Australia Bank - renewable energy\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables.jpg 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables-300x158.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables-1024x538.jpg 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables-768x403.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>National Australia Bank has signed a three-year deal with Engie involving the purchase of renewable energy certificates to offset power used in all NAB&#8217;s Australian branches.<!--more--><\/p>\n<p>In November last year, NAB boosted its renewable energy goals from 50% to 100% by 2025 and became a member of RE100, an initiative bringing together major corporations committed to using 100% renewable electricity.<\/p>\n<p>In an announcement yesterday, NAB said will buy large-scale generation certificates (\u201cLGCs\u201d) generated from wind and solar farms in Engie&#8217;s renewable portfolio. NAB will purchase enough certificates by the end of next year to meet the electricity needs of its network of over 600 branches. Looking further ahead, approximately 80% of NAB\u2019s Australian buildings&#8217; electricity consumption will be offset with renewable energy by 2023 &#8211;\u00a0 equivalent to all branches, business banking centres, offices and half of NAB&#8217;s data centres\u2019 consumption.<\/p>\n<blockquote><p>&#8220;We already have around 70 branches where solar panels produce up to half of each sites\u2019 electricity requirements,&#8221; <a href=\"https:\/\/news.nab.com.au\/news_room_posts\/nab-to-source-100-per-cent-renewable-electricity-for-branches-by-2021\/?utm_source=miragenews&amp;utm_medium=miragenews&amp;utm_campaign=news\">said<\/a> NAB Personal Banking Group Executive Rachel Slade. &#8220;This builds on our Victorian branches already being supplied by wind power.&#8221;<\/p><\/blockquote>\n<h2>NAB And Renewables Lending<\/h2>\n<p>In addition to its renewable electricity commitment for NAB operations, National Australia Bank claims it is also the leading financier to the Australian renewable energy market, with renewables making up 72% of its power generation lending exposures.<\/p>\n<p>According to NAB&#8217;s 2020 <a href=\"https:\/\/www.nab.com.au\/content\/dam\/nabrwd\/documents\/reports\/corporate\/2020-sustainability-report-pdf.pdf\">Sustainability Report<\/a>, it financed an additional 4,303 MW of installed renewable energy generation capacity this year. This included finance for wind and solar assets in Australia, US and the UK.<\/p>\n<p>As for coal power:<\/p>\n<blockquote><p>&#8220;Our exposure to an existing Australian coal-fired power generation was paid out, reducing our exposure to coal-fired power in the PF portfolio to zero (down from 0.2% in 2019).&#8221;<\/p><\/blockquote>\n<p>However, not everyone has been happy with the bank&#8217;s progress.<\/p>\n<p>MarketForces said last month NAB\u2019s exposure to gas-fired power generation increased by 4% in the year to September 2020, from $0.94 billion to $0.98 billion. This saw NAB again the most exposed major Australia bank MarketForces said, well ahead of Westpac&#8217;s $0.67 billion, Commonwealth Bank&#8217;s $0.6 billion, and ANZ&#8217;s $0.14 billion.<\/p>\n<p>MarketForces also noted NAB recently loaned US$50 million to Santos, a company whose projects including its controversial <a href=\"https:\/\/www.solarquotes.com.au\/blog\/narrabri-csg-approval-mb1775\/\">Narrabri Gas Project<\/a> that was recently given the final regulatory green light it needed to proceed.<\/p>\n<h2>&#8220;Mealy Mouthed&#8221; On Thermal Coal Exit<\/h2>\n<p>In its full year results presentation released last month, NAB stated it expects to exit thermal coal mining by 2030, five years earlier than the <a href=\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewables-coal-mb1294\/\">official commitment made last year<\/a>.\u00a0This is also mentioned on NAB&#8217;s <a href=\"https:\/\/www.nab.com.au\/about-us\/social-impact\/environment\/climate-change\">climate change page<\/a>.<\/p>\n<p>While good news, this also drew MarketForces&#8217; ire.<\/p>\n<blockquote><p>\u201cNAB\u2019s exposure to coal has fallen year-on-year and it\u2019s clearly confident it can exit thermal coal in line with the Paris Agreement, so why not just admit the 2035 date was a mistake and now commit to doing so?,&#8221; <a href=\"https:\/\/www.marketforces.org.au\/nab-mealy-mouthed-on-2030-thermal-coal-exit\/\">said<\/a> MarketForces Research Coordinator, Jack Bertolus. \u201cNot only does NAB need to quit thermal coal by 2030, it needs to quit being mealy-mouthed about its commitments.\u201d<\/p><\/blockquote>\n<p>Mr. Bertolus said in making the commitment, it would effectively mean no Australian bank or insurer would be willing to finance thermal coal beyond 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Australia Bank has signed a three-year deal with Engie involving the purchase of renewable energy certificates to offset power used in all NAB&#8217;s Australian branches.<\/p>\n","protected":false},"author":17,"featured_media":45739,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-45738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NAB Takes Another Step Towards 100% Renewable Electricity<\/title>\n<meta name=\"description\" content=\"National Australia Bank has signed a deal involving purchase of renewable energy certificates to offset power used in its Australian branches\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NAB Takes Another Step Towards 100% Renewable Electricity\" \/>\n<meta property=\"og:description\" content=\"National Australia Bank has signed a deal involving purchase of renewable energy certificates to offset power used in its Australian branches\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-14T19:16:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"NAB Takes Another Step Towards 100% Renewable Electricity\",\"datePublished\":\"2020-12-14T19:16:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/\"},\"wordCount\":519,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/nab-renewable-electricity-mb1799\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/12\/nab-renewables.jpg\",\"articleSection\":[\"General Solar &amp; 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In announcing its stance on coal, the company said it realised it had important role to\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"National Australia Bank - Renewables vs. coal","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/12\/coal-renewables-funding.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":27215,"url":"https:\/\/www.solarquotes.com.au\/blog\/fossil-fuels-banks-mb0902\/","url_meta":{"origin":45738,"position":2},"title":"Australia&#8217;s Big 4 Banks Still Sniffing Around Fossil Fuels","author":"Michael Bloch","date":"January 17, 2019","format":false,"excerpt":"Major Australian banks were getting back into fossil fuels in 2018 according to a new report from Market Forces, but there was also a big increase in exposure to renewable energy. The \"Big 4\" - ANZ, CommBank, NAB and Westpac - all committed to support the principles of the Paris\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Australian banks and fossil fuel loans","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/banks-fossil-fuels.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/banks-fossil-fuels.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/banks-fossil-fuels.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/01\/banks-fossil-fuels.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":43407,"url":"https:\/\/www.solarquotes.com.au\/blog\/pepsico-renewable-electricity-mb1693\/","url_meta":{"origin":45738,"position":3},"title":"Pepsico Commits To 100% Renewable Electricity","author":"Michael Bloch","date":"September 23, 2020","format":false,"excerpt":"US-headquartered multinational food, snack and beverage goliath Pepsico has committed to 100% renewable electricity across its entire operations globally by 2040. Recognising the impacts of climate change and the need for accelerated action, the company will transition to 100% renewable electricity for all U.S. direct operations by the end of\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Pepsico - renewable electricity","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2020\/09\/pepsico-renewable-energy.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":63451,"url":"https:\/\/www.solarquotes.com.au\/blog\/australia-greenpower-consultation-mb2555\/","url_meta":{"origin":45738,"position":4},"title":"The Future Of Australia&#8217;s GreenPower Program","author":"Michael Bloch","date":"July 15, 2022","format":false,"excerpt":"A long-running scheme providing renewable energy to Australian households and businesses via electricity retailers is going to need some nips and tucks. GreenPower is program available nationally enabling electricity customers to ensure their mains grid use is matched with power from verified renewable electricity sources. The program has been around\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"GreenPower - Australia","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/greenpower-consultation.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/greenpower-consultation.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/greenpower-consultation.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/greenpower-consultation.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2022\/07\/greenpower-consultation.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":31907,"url":"https:\/\/www.solarquotes.com.au\/blog\/eon-energy-renewables-mb1129\/","url_meta":{"origin":45738,"position":5},"title":"UK&#8217;s E.ON Energy: &#8220;100% Of Homes, 100% Renewable Electricity&#8221;","author":"Michael Bloch","date":"July 11, 2019","format":false,"excerpt":"On Tuesday morning local time, E.ON Energy's 3.3 million residential customers in the UK woke to the news all their electricity would be \"100% renewable\" - and at no extra cost. \"More than three quarters of people in the UK are concerned about #climatechange, which is why we're helping household\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"E.ON Energy - Renewables","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/07\/eon-renewable-electricity.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/07\/eon-renewable-electricity.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/07\/eon-renewable-electricity.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/07\/eon-renewable-electricity.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2019\/07\/eon-renewable-electricity.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/45738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=45738"}],"version-history":[{"count":4,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/45738\/revisions"}],"predecessor-version":[{"id":45743,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/45738\/revisions\/45743"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/45739"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=45738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=45738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=45738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}