CBA Launches Sustainability Action Tool for Small Businesses

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CBA’s Sustainability Action Tool is designed to help small business customers identify sustainable options for their processes and operations and provide them with a selection of resources and actions based on their answers to a few simple questions.

The tool will initially focus on energy, transport and waste management and will expand in the coming months to include information on other sustainability topics such as supply chain management, product design and wellbeing.

CBA executive Kerryn Saward said: “It is clear that small business owners have a vested interest in sustainability and are already implementing sustainable practices in their businesses.

“This is bolstered by our own data showing that small businesses continue to prioritize sustainability, with small business EV funding doubling year-over-year.

“However, small business owners are short on time and are looking for more tangible and practical sustainability solutions that can be easily incorporated into their businesses, with minimal effort and time.

“They also want to empower themselves with information and insights that can guide them in the right direction to align with the right businesses.”

CommBank’s Sustainability Action Tool will enable small business owners to identify simple changes they can make today, as well as larger-scale jobs, that could have a big impact on the environment and reduce business costs.

“This can include doing an energy audit with your energy provider, switching to new and improved technology such as cloud computing services, and learning about ways to reduce or eliminate hard-to-recycle waste,” said Ms. Saward.

The first phase of CommBank’s Sustainability Action Tool will roll out in May to all NetBank users with ongoing new content added starting in July.

The release of the tool follows the recently released CBA Financing of green vehicles and equipment that supports companies of all sizes to invest in assets to improve sustainability and increase productivity.

On top of this, the extension of the Australian government’s instant asset write-off scheme as part of the 2023 budget means that small businesses with annual turnover of less than $10 million can immediately deduct the full cost of eligible assets that cost less than $20,000.

The launch of the tool comes ahead of CommBank SmallBiz Week 2023 in Melbourne from May 23-25, where entrepreneurs, government agencies and industry leaders will come together to explore critical issues affecting the sector, including sustainability. .