In 2017, Commonwealth Bank of Australia (CBA) released its first Climate Policy Position Statement, reaffirming our support for a responsible global transition to a net zero emissions economy by 2050.
Our commitment is two-fold:
Decrease the emissions intensity of our business lending; and
Reduce our own emissions.
We recognise that our climate commitment needs to evolve and we will set new targets as we approach 2050. In order to inform this, we will undertake scenario analysis, in collaboration with leading experts, which will be completed by the end of 2018.