We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: National Australia Bank (NAB) has communicated a positive top-line messaging regarding climate policy. It has stated support for the Paris Agreement, the goal of limiting global warming to no more than 1.5oC, and transitioning to a net-zero economy by 2050. The company appears to have a limited but positive engagement-with climate related regulations, however its communications surrounding the energy transition appears to be more mixed.
Top-line Messaging on Climate Policy: NAB’s top-line messaging on climate policy appears to be positive. NAB has acknowledged climate change through various channels in 2021. In its corporate reporting in 2021, the company has backed the Paris Agreement and its goal of limiting global warming to no more than 1.5 degrees Celsius and supporting the net-zero by 2050 target.
Engagement with Climate-Related Regulations: NAB appears to have very limited engagement with climate-related regulations. However, within its 2019 CDP response, NAB stated that it supported the National Greenhouse and Energy Reporting Scheme (NGER) while backing efforts to increase the scheme's effectiveness. NAB commented on the review of the NGER scheme, here, NAB stress how it would like to see the scope of the scheme increased, with more companies covered and adding scope 3 emissions to the scheme.
Positioning on Energy Transition: NAB’s position on the energy transition appears to be mixed In its corporate reporting in 2021, NAB appears supportive of transitioning towards renewable energy to reduce greenhouse gas emissions. In May 2021 in its Business Research and Insights, the company supported using green hydrogen to decarbonize the power sector and heavy industries, including steel, aluminum, and chemicals. Also in May 2021, in a consultation submission on Australia’s export industries, NAB suggested developing exportation of renewable energy; however, in the same comment, NAB also seem to suggest LNG export will continue to play an important role in Australia’s economy.
Industry Association Governance: As of August 2021, NAB has disclosed a list of its memberships to industry association on its website, however, without providing any details on the climate policy positions of these associations or how it sought to influence these positions