National Australia Bank (NAB) has announced a significant operational emissions reduction target, aiming for a 72% reduction in Scope 1 and 2 (market-based) emissions by 2030, compared to a 2022 baseline of 23,856 tCO2-e. The target is aligned with the Science Based Targets Initiative’s (SBTi) 1.5°C pathway and does not rely on carbon offsets to achieve its goals.
Material actions and disclosures
NAB has made substantial progress towards its target since the baseline year, with a 69% reduction in emissions since 2022. This includes an additional 1,071 tCO2-e reduction since 2025, driven by improved reporting on fugitive emissions and a reduction in diesel consumption across key Australian facilities. The bank also aims to reduce emissions through fleet electrification, property energy efficiency, and renewable electricity sourcing.
Since 2025, NAB has sourced or matched 100% of its electricity from renewable sources, using a mix of direct renewable electricity sourcing arrangements and matching mechanisms reflecting market availability and operational requirements. This includes Power Purchase Agreements, Renewable Energy Certificates (RECs), on-site solar generation, and international Renewable Energy Certificates (iRECs).
Additionally, NAB applies an internal carbon price to selected operations and activities to understand energy savings, maintenance savings, and avoided cost of carbon associated with investments in energy-efficient assets or initiatives. In 2026, the internal carbon price was $24.85 per tonne and was applied to Australian building portfolio carbon mitigation activities.
NAB has also voluntarily disclosed certain operational Scope 3 GHG emissions within its existing reporting boundary to maintain continuity and comparability of emissions disclosure for users. The Group continues to enhance the quality of its operational emissions data and will expand its Scope 3 reporting in 2027 to meet the requirements of AASB S2.