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Climate change is accelerating, and the time for action is now. That’s why we’ve developed a Climate Transition Plan (CTP), replacing the Climate Action Plan (CAP) that we completed in 2024. The new plan outlines our focus areas and commitments, and the actions we will take to meet them over the next few years.

We will review and refine our approach regularly to ensure our focus areas and commitments remain meaningful, relevant and in the best interests of our customers.

Alignment to purpose

Great Southern Bank’s approach to climate change is closely aligned with our strategic purpose: helping all Australians own their own home. After all, a house may not truly feel like a home without a safe, sustainable environment and a thriving community around it. We recognise that climate change poses real risks to the wellbeing and prosperity of our communities - including our customers’ ability to buy, maintain, and insure a home.

Our Climate Transition Plan 2025-2028

We are focusing on the areas we believe can have the biggest impact, meet the expectations of our customers, and our priorities as a responsible bank.

Our commitments

  • Be net zero by 2040.
  • Source 100% renewable energy for our offices and branches by 2030.
  • Remain certified carbon neutral for our business operations under Climate Active.
  • Enable our team members to become agents of change.

Our commitments

  • Embed climate risk governance across our business.
  • Understand and manage climate risks and opportunities to ensure we are a sustainable bank for our customers today and in the future.
  • Annually report against global frameworks and comply with Australian regulatory requirements.

Our commitments

  • Promote affordable energy efficiency and the adoption of renewables.
  • Advocate for our customers to maintain appropriate levels of home and contents insurance.
  • Support our customers’ access to housing upgrades that increase their physical resilience to extreme weather events.
  • Identify opportunities for the bank and our team members to support disaster responses.

Our commitments

  • Strategically partner with community, industry, NGOs, and government to advance tangible climate action.
  • Continue working with COBA and BCCM to strengthen industry capacity in climate action and climate-related risk.
  • Partner with service providers to decarbonise our procurement and supply chains.
  • Partner with service providers to decarbonise our supply chains.

Download our Climate Transition Plan

Read more in the full report
Download PDF

Our journey so far

Since 2020, we’ve acted to meet our net zero commitment, manage climate risks and opportunities more effectively, and improve our reporting transparency.

Financial year 2025
Strengthened commitment to climate action
  • Prepared for incoming reporting legislation
  • Published our Climate Transition Plan
  • Undertook scenario analysis of physical and transition climate risks and opportunities
  • Launched green home offer for customers
  • Transitioned eight further branches to 100% renewable electricity
Financial year 2024
Increased momentum on climate action
  • Near-term emissions reductions targets validated by the Science Based Targets initiative (SBTi)
  • Responsible Investment Policy published
  • Transitioned nine branches and all three hub offices to 100% renewable electricity, including our largest Brisbane site
  • Became B Corp certified
Financial year 2023
Supported customers and community to reduce emissions
  • Stress tested potential financial impacts of physical climate risks on our residential mortgage portfolio
  • Commenced three-year partnership with Mission Australia to reduce emissions and energy costs for tenants
  • Launched green personal loans for customers
Financial year 2022
Accelerated climate ambition and transparency
  • Published our first Climate Action Plan
  • Committed to net zero by 2040
  • Established baseline for financed GHG emissions using the Partnership for Carbon Accounting Financials (PCAF) standard
  • Released our first climate-related disclosure, aligned to the global Task Force on Climate-related Financial Disclosures (TCFD) framework
Financial year 2021
Committed to climate action
  • Published our first sustainability strategy
  • Joined the United Nations Global Compact
  • Business operations certified carbon neutral by Climate Active
Financial year 2020
Measured our climate impact
  • Established the baseline for operational greenhouse gas (GHG) emissions
ABOUT US

Why choose Great Southern Bank?

We’re customer owned, so our profits go towards delivering better products and services rather than to shareholders. We believe it’s a more transparent way of doing things and why we’ve been trusted by Australians for more than 75 years.

“Wayne was an absolute champ during the whole process! Always letting me know what I needed to do and all while answering all the dumb questions I had.”
Robert, 33, WA
Great Southern Bank Customer.