Can banks handle the inconvenient truth?

Australian media company, ABC, recently surveyed Australia’s ten biggest companies, including Westpac, National Australia Bank, ANZ and the Commonwealth Bank, to find out about their carbon emissions and to measure how serious they each are about climate change. The National Australia Bank and the Commonwealth Bank have no set targets for reducing their emissions.

Westpac does have targets and has reported a reduction in carbon emissions by 40 per cent over the past ten years. It is already the lowest among the big four banks and projected to fall a further 5 per cent a year.

Climate change is fast becoming an issue that all businesses, not just mines and electricity companies, have to own. Banks, for instance, require large number of people to travel into and out of central city locations. Perhaps there is room for bank workers and banks to come up with some innovative incentives to promote and support public transport, to shorten the distances that people need to travel and to free up congestion in our cities.

(thanks to Igarcia for the photo)

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