NAB becomes first bank to offer Greener for Business

The country’s largest business lender National Australia Bank (ASX: NAB) has announced a partnership with B Corp-certified startup Greener to offer its digital sustainability platform to SME customers, helping them create step-by-step climate action plans, reduce carbon emissions and make more environmentally-friendly purchases.

NAB is the first bank to partner with the clean-tech startup and its venture capital arm NAB Ventures is also an investor in Greener, which launched the new Greener for Business platform earlier this month with energy giant Origin (ASX: ORG) and Sendle among its partners.

Greener was co-founded in 2019 by Tom Ferrier and Neil McVeigh, and almost a year ago raised $4 million shortly after teaming up with the Australian Retailers Association (ARA) to help design its solution.

In early 2023 more than 60 NAB small business customers participated in a pilot of the Greener for Business platform, with the bank noting users were highly engaged, valued the guidance provided and expressed a willingness to recommend the digital solution.

“With around one in five SMEs strongly intending to make an investment to improve the sustainability of their business over the next two years, it’s clear many are eager to cut their emissions while also reducing business costs,” says NAB executive, business direct and small business, Ana Marinkovic.

“Small business owners know the value of making smart investments and despite the challenging economic environment, many are choosing to prioritise their environmental sustainability.

“Climate action is everyone’s job. As Australia’s largest business bank, we’re acting to help inform our small business customers of the actions they can take to make a difference.”

NAB’s new partnership with Greener alerts its small business customers to the benefits of the Greener for Business tool, which provides guidance on how to develop an action plan to reduce energy and waste, as well as improve electrification, packaging and logistics emissions.

The online tool also features exclusive offers from leading suppliers to help save on costs and improve sustainability.

Greener co-founder Tom Ferrier says many Australian small businesses remain unaware of the potential savings they could make by reviewing their emissions and switching to more sustainable suppliers.  

“There is a common misconception among small business that the sustainable option is the more expensive option. That’s why Greener has created a free, super easy platform that helps them save money and reduce emissions at the same time,” says Ferrier, who alongside McVeigh was a finalist in the 2021 Sydney Young Entrepreneur Awards.

“We’ve been fortunate NAB has recognised our vision and is helping back Greener for Business by showcasing the platform to its small business customers and informing them of how they can use it to both save money and reduce emissions.”