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Image credit: Shift Energy Group


An inspiring example of a cooperative proactively working towards protection of the environment has emerged from Australia. Bank Australia, a member of the Business Council of Cooperatives and Mutuals, has become the first bank in the country to switch completely to renewable electricity! They have entered into a 10-year agreement with Pacific Hydro, which is a developer in the renewable energy sector, as part of the Melbourne Renewable Energy Project. They have installed rooftop solar panels at their head office in Melbourne and the National Contact Centre in the Latrobe Valley. According to Damien Walsh, the Managing Director of Bank Australia, by running on 100% renewable energy, the Bank is avoiding 780 tonnes of carbon each year, ‘the equivalent of taking 232 cars off the road.’ The achievement is made more special by the fact that last month, Bank Australia, joined a global initiative called RE100. Launched by the Climate Group, this initiative currently has 174 businesses committing to going 100% renewable.  In 2015, Bank Australia had pledged to switch completely to renewable energy by 2020; it has achieved this a year in advance! True to the spirit of cooperation, Bank Australia intends on sharing its knowledge with other companies to boost the process of ‘energy transition’ in Australia.