Climate change
We all have a role to play to address climate change, and we hold ourselves accountable to doing the right thing. People First Bank is committed to taking meaningful climate action by reducing our greenhouse gas emissions through a targeted approach, with our residual emissions being offset through the purchase of carbon credits from Australian projects.
Emissions reduction
Our 2030 science-based emission reduction targets reinforce our dedication to aligning with climate science and contributing to a more sustainable future.
We are actively working to achieve these targets by taking action across a range of initiatives including:
- improving energy efficiency across our branch and head office sites
- securing renewable energy for all sites
- transitioning our fleet from hybrid to fully electric vehicles
- expanding our range of green loans for energy-efficient home upgrades such as solar panels and battery storage.
Validation through SBTi
Our emissions targets have been validated by the Science Based Targets initiative (SBTi), a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis.
SBTi standards and guidance ensure our emission reduction goals align with the latest climate science and support the Paris Agreement's temperature limits of well below 2°C, and ideally 1.5°C above pre-industrial levels. In line with this science, we are committed to:
Reducing direct and indirect emissions
95% reduction in Scope 1 and Scope 2 emissions by 2030 (FY2023 base year)
Financed emissions reduction
38% reduction in Scope 3 financed emissions (mortgage portfolio) per square metre by 2030 (FY2024 base year)
Renewable energy transition
Source 100% renewable electricity for our sites by 2030—an increase from 56% in FY2023
Carbon neutrality
Our commitment to carbon neutrality reflects one of the ways we're doing what’s right for our customers and the community.
While we continue to work on reducing our emissions, we offset the residual by purchasing verified Australian Carbon Credit Units (ACCUs).
By exclusively investing in ACCUs, we are supporting local offset projects that deliver genuine environmental and social benefits within Australia, as opposed to overseas.
In 2024 we purchased carbon offsets from two specific projects.
Learn more
Find out more about how we are working towards a sustainable future for people, communities and the environment.
Our progress
Our annual Customer Report provides more detail on the actions we’re taking to reduce our environmental footprint, and the progress we’ve made towards meeting our commitments.
Our B Corp certification
As a certified B Corp, we’ve committed to meeting high standards of social and environmental performance, transparency and accountability. Find out more about what this means, and why it’s important.
Partnering for climate action
Through the Business Council of Cooperatives and Mutuals (BCCM)’s Declaration of Climate Action, we have committed to a just transition toward net‑zero carbon emissions, ensuring our efforts protect the planet, people, and economy, alongside other customer-owned organisations.
