Commonwealth Bank will get 65 per cent of its energy from renewables starting in January after signing an agreement with the largest wind farm in New South Wales.
Australia's largest bank says the 12-year purchasing agreement with Sapphire Wind Farm, in north-east NSW is a step toward going all-renewables by 2030.
CBA has become the first Australian firm to commit to the global RE100 initiative, joining corporates including Apple, Bank of America, Coca-Cola, Nike, Sony and Starbucks in committing to source 100 per cent of their electricity from renewables by a specified year.
Kylie Macfarlane, CBA's general manager of corporate responsibility, said the agreement with Sapphire decreases the bank's carbon emissions by 60 per cent.
"We continue to build on our strong track record of reducing energy use, and subsequent emissions, across our branches and offices," Mr Macfarlane said.
"To be able to use renewable energy directly from the supplier for 65 per cent of our Australian electricity needs is a significant step towards transitioning to 100 per cent renewable electricity use."
