National Australia Bank (NAB) has teamed up with portfolio company Greener to assist its small business clients in reducing their carbon emissions.
Founded in 2022 and supported by NAB Ventures, Greener helps small businesses develop step-by-step climate action plans, lower carbon emissions, reduce costs, and enhance their sustainability efforts. This initiative follows a successful pilot program with 60 small business clients conducted in early 2023.
Ana Marinkovic, NAB’s executive for business direct and small business, stated, “As Australia’s largest business bank, we’re committed to helping our small business customers understand the actions they can take to make a positive impact. With approximately one in five SMEs planning to invest in sustainability initiatives over the next two years, it’s evident that many are eager to lower their emissions while also cutting business costs.”
Through this partnership, NAB will promote the Greener for Business tool to its small business clients. This online resource provides guidance on forming action plans to reduce energy consumption and waste, while also improving electrification and minimizing emissions from packaging and logistics. The tool includes exclusive offers from suppliers to help clients save costs and improve sustainability.
Tom Ferrier, the founder of Greener, pointed out that many Australian small businesses are unaware of the potential savings they can achieve by assessing their emissions and transitioning to more sustainable suppliers. “A common misconception among small businesses is that sustainable options are always more expensive,” he explained. “That’s why Greener has developed a free, user-friendly platform that helps them save money while simultaneously reducing emissions.”
Meanwhile, in Europe, Spanish bank Caixa is set to provide SMEs with a personalized advisory service designed to address challenges related to decarbonization and environmental improvements. The bank has trained 150 expert managers at CaixaBank Business to highlight the benefits of sustainability as a key driver for business growth.