National Bank of Canada

Climate Impact & Sustainability Data (2022)

Total Carbon Emissions:117,994 tCO2e/year

Renewable Energy Share:71%

Reduced GHG emissions from operations by achieving carbon neutrality.
71% of energy consumption from renewable sources.
Growing renewable energy loan portfolio faster than non-renewable energy loan portfolio.
New head office designed to obtain LEED v4 Gold and WELL certification.

Launched new branch experience focusing on advisory services and digital engagement.
Implemented Banking Advisor model to enhance employee advisory skills.
Improved digital experience for clients.
Launched partnerships to support clients (Lex Start, DialogueTM).
Approved over $142 billion in loans for businesses of all sizes.
Supported numerous incubators and accelerators.
Invested in Idealist Capital’s Idealist Climate Impact Fund.
Partnered with Black Opportunity Fund.
Contributed to Evol’s financing envelope.
Partnered with Parcours Transition écologique.
Continued Lise Watier Foundation Let’s Start Up program.
Employee engagement index of 89%.

Strengthened ESG practices and clarified ESG responsibilities of the Board and its committees.
Implemented a robust anti-corruption program.
Revised Code of Conduct to reflect culture and ambitions.
Implemented a rigorous anti-money laundering and anti-terrorist financing program.
Integrated ESG criteria into risk management framework.
99% of employees completed annual compliance training.
40% of Board seats held by women.

Long-term Goals:

Medium-term Goals:

Reduce portfolio intensity for the Oil and Gas Producers sub-sector by 31% by 2030.

Short-term Goals:

Reduce GHG emissions from operations by 25% by the end of 2025.
Have more than a quarter of the workforce be made up of people in diversity segments by the end of 2023.

Joined the NZBA and using PCAF methodology to measure financed emissions.
Setting progressive reduction targets for financed emissions.
Consolidating energy transition expertise by creating the Energy & Infrastructure Sustainability Impact Group.
Developing analytical and stress testing skills to better identify and quantify climate risk.
Gradually integrating climate indicators into the risk appetite framework and ESG criteria into the credit adjudication process.
Working with peers, regulatory organizations, and international organizations to improve climate risk management and disclosure framework.

Supplier Code of Conduct integrating ESG considerations.
Prioritizing local and Canadian suppliers for furnishings and interior design components (80% for new head office).

Frameworks Used: GRI, SASB, TCFD, UN SDGs, UN PRB, CDP

Third-party Assurance: Groupe AGÉCO (GHG emissions)

Initiatives and commitments contributed to 12 of the 17 UN Sustainable Development Goals in 2022.