NAB impresses on sustainability measures

  • By Zilla Efrat

NAB has notched up the highest score for the banking and financial services sector in Australia in the Dow Jones Sustainability Indices (DJSI), as measured by the S&P Global 2021 Corporate Sustainability Assessment.

NAB achieved a mark of 86/100 among the top 10 banks globally and in the top 98th percentile of the 245 banks assessed.

Several areas of focus contributed to NAB’s results.

One was climate action. This took into account the progress NAB has made against its climate strategy, including its goal to align its lending portfolio to net zero emissions by 2050. NAB also earned a tick for its ambition to provide $70 billion in environmental financing by 2025 and emissions reductions for NAB’s owned operations.

Another area was NAB’s focus on colleagues. Here, investment in NAB’s Professional Banking Fundamentals training for 32,000 employees, as well as its bespoke Distinctive Leadership training program for all its leaders, helped boost NAB’s place in the listings.

NAB was also judged positively on improvements made in its customer experience through simple and digital products as well as its transparency in customer experience measures through disclosure of NAB’s Strategic Net Promoter Score (NPS).

Also helping NAB’s ratings were its focus on supporting indigenous businesses and its 18-year partnership with Good Shepherd Australia New Zealand to support access to financial services.

The DJSI are float-adjusted market capitalisation weighted indices that measure the performance of companies selected using environmental, social and governance (ESG) criteria.

The DJSI, including the Dow Jones Sustainability World Index (DJSI World), were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. NAB has participated in the index since 2003. Scores and percentiles referenced in this article are as at 12th November 2021.