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Climate change

Climate change policy statement

Bendigo and Adelaide Bank recognises climate change has far-reaching risks for the environment, the economy, society, our customers and their communities. We support the required transition to net zero emissions by 2050 with aligned interim targets. We are committed to playing our part in this transition.

We will work to build climate mitigation and adaption into our business and work to assist our customers and their communities to build climate resilience into their futures.

Consistent with this statement, Bendigo & Adelaide Bank does not and will not provide finance1 directly to projects or large-scale2 electricity generation in the following sectors:

  • Coal
  • Coal seam gas
  • Crude Oil
  • Natural gas
  • Native forest logging.

For more details on our commitment to climate change, refer to our Climate Change Policy Statement

Our climate strategy

Bendigo and Adelaide Bank is well-positioned to strategically support our customers, communities and stakeholders to prepare for and adapt to the impacts and opportunities presented by our changing climate.

Our Climate Strategy ensures that risks and opportunities are captured, that we understand implications for the Bank and stakeholders, and that we’re equipped to make management decisions on that basis. The Climate & Nature Action Plan, included in the Climate Strategy will deliver four outcomes:

  • A climate integrated business: effective and integrated risk management and opportunity realisation throughout our business.
  • Climate resilient customers and communities: build preparedness for physical & transitional impacts in the communities we serve.
  • Reduced emissions and natural impact: real world reductions in emissions and impacts on nature in our business and with our customers.
  • Trust: continue to grow trust through governance, authentic engagement and transparent disclosure.

Our Climate Strategy also supports BENZero - our approach to net zero - to lead by example and reduce absolute emissions by 50% by 2030 and 95% by 2040 (from a FY20 baseline) across both our operational and financed emissions, while continuing to support our customers to be successful.

The graphic is a stacked bar chart to represent the Bank’s total market based operational emissions for each financial year from 2020 to 2023. In 2020, BEN’s total market-based operational emissions were 40,763 tCO2e. In 2021, BEN’s total market-based operational emissions reduced by 30% and 28,538 tCO2e. In 2022, BEN’s total market based operational emissions reduced by 19% year-on-year and 43% compared to our 2020 baseline. In 2023, BEN’s total market based operational emissions increased by 57% year-on-year and decreased by 10% compared to our 2020 baseline.

As of 30 June 2023, we have reduced our market-based Scope 1 & 2 emissions by 46% below an FY20 baseline and reduced our Scope 1-3 operational emissions 10% below an FY20 baseline4. Our financed emissions are a focus of the Climate & Nature Action Plan. For more details about our climate change strategy and governance, refer to our 2023 Climate Related Financial Disclosure Supplement in the Sustainability Report.

Climate action

A climate integrated business

We continue to integrate climate risk and opportunity management throughout our business. This work includes improving oversight of climate and nature related risks and activities, delivering decision-useful scenario analysis of physical and transitional impacts, focusing on opportunity realisation and embedding climate in our strategic choices and risk appetite realisation throughout our business.

In addition, we regularly review our sustainability-related positions and policies. For detail on our scenario risk analysis see our 2023 Climate Related Financial Disclosure Supplement in the Sustainability Report.

Climate resilient customers and communities

Globally, we cannot meet our net zero commitment without working collaboratively. As a result, it is critical to build preparedness for physical and transition impacts in the communities we serve. We continue to support our customers to better adapt to a changing climate by uplifting and enhancing both the internal and external capability of our people, customers and communities.

Our products are a lever to build climate resilience, and we are continuing to explore opportunities to develop new or enhance existing solutions to support our customers. Currently, we provide finance to help customers reduce their emissions through our Secured Green Loan, Unsecured Green Loan and Energy Efficient Equipment Finance.

Additionally, our Community Bank network supports local communities to lower their footprint. By utilising profits generated through the Bank’s shared value model, we support community-led action initiatives, such as:

  • Energy and environmental forum initiatives
  • Rural climate change session for farmers
  • Solar panels for community groups with physical infrastructure

Reduced emissions and natural impact

The Bank has set targets and accompanying metrics to assess our performance, direct action, manage climate risks and act on opportunities. We continue to make progress against these targets and transparently report on progress. This year, the Bank has made several updates to our target setting to further drive strategic climate decisions. As a result, by 2025:

Procure 100% renewable energy by end of 2025
Reduce our Scope 1 & 2 greenhouse gas emissions by 90% from 2020 levels
Neutralise our emissions, with intentional impact
Maintain our business travel emissions below 25% from a 2020 baseline

While we continue to reduce our operational footprint, we acknowledge the need to support our customers in reducing their footprint. We continue to mature our approach to financed emissions through how we engage our customers for targeted, real-world financed emission reductions. Our Climate & Nature Action Plan provides more detail on this.

The Bank’s Scope 3 financed emissions are measured under asset classes defined by PCAF. These include residential mortgages, commercial real estate, listed equity and corporate bonds, business loans and unlisted equity and motor vehicle loans. A sixth asset class, Project Finance, was deemed not relevant for the Bank. A third-party consultant was engaged to review the baseline calculations against the relevant standards to assess alignment against sector-specific guidance from the Science Based Targets Initiative (SBTi) and PCAF. For more detail see financed emissions methodology.


We continue to grow trust through authentic reporting against relevant and evolving frameworks. Please see our 2023 Climate Related Financial Disclosure Supplement in the Sustainability Report.

To influence the capital system, share knowledge, build capacity, and support action on climate change and nature issues, we engage with the below industry, government, and other stakeholders:

  • Australian Banking Association
  • Greater Bendigo Climate Collaboration
  • Net-Zero Banking Alliance (NZBA)
  • United Nations Global Compact
  • Science-Based Target Initiative


Carbon neutral certification

The Bank was certified carbon neutral for its operations from financial year 2021/22 against the Climate Active Carbon Neutral Standard. The Bank will re-certify for FY23 in October.

Carbon Neutral Organisation Logo

View our Climate Active PDS

Carbon emissions disclosure

We have voluntarily reported our carbon emissions since 2011 to the world’s largest database of carbon information, CDP. CDP works with thousands of businesses globally, helping them to implement effective carbon emission reduction strategies.

View our most recent CDP Submission

Things you should know

1 We provide financial services and therefore while this reference is to “finance” we do not provide advisory services to these sectors.

2 For example, we do not provide finance directly to grid connected fossil fuel electricity generation however, we may provide equipment finance to support a customer’s backup diesel generator.

3 Graphic illustrates market-based operational emissions only

4 Note, the Bank has increased our Scope 3 market-based emissions this year, driven by several compounding factors. We have calculated emissions from software for the first time in FY23 at the same time as the Bank purchased a significant quantity of IT equipment through the year. With the return to in-person interaction, we’ve also seen an increase in employee commuting and flights

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Information on this page can change without notice to you.
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