CBA enhances sustainability tool for small businesses

It partners with BioPak and EnergyFlex to help small businesses achieve sustainability goals

CBA enhances sustainability tool for small businesses

Commonwealth Bank has enhanced its Sustainability Action Tool by integrating offers from BioPak, a compostable food packaging organisation, and EnergyFlex, an energy insights startup.

The initiative aims to assist small businesses in embedding sustainability into their operations, thereby saving money and reducing operational costs.

Launched in 2023, CBA’s Sustainability Action Tool is specifically designed to help small businesses improve environmental outcomes and reduce operating costs by providing resources for sustainable choices.

The latest enhancements include a 10% discount on BioPak’s certified home and industrially compostable packaging products and access to EnergyFlex’s new app, which analyses energy consumption data and suggests changes to reduce energy use and costs.

In March, Australia’s biggest bank launched a new green loan aimed at commercial businesses which want to fund renewable energy projects.

“We know through our research that the top pain points for small businesses seeking to embed sustainability into their business model are costs, finding sustainable suppliers and a lack of time and resources,” said Kerryn Saward (pictured), general manager for everyday business banking at Commonwealth Bank.

“Our Sustainability Action Tool addresses these pain points – instead of spending their limited time visiting different websites, business owners can simply answer a few quick questions and access a range of information that best suits their needs in one easy-to-navigate resource.”

EnergyFlex chief executive Garry Harding, who co-founded the company with Royal Australian Air Force veteran Craig Phasey, said using the sustainability tool would help deliver better financial and environmental outcomes for customers.

“The ever-increasing cost of energy adds real pressure to any small business and impacts the entire supply chain,” Harding said. “We are very excited to work with CBA’s Sustainability Action Tool and help small businesses drive down cost and carbon emissions by better understanding the renewable energy transition.”

Gary Smith, chief executive of BioPak, stated they were incredibly proud to be part of the project helping businesses work towards circular economy solutions that put the planet first.

“We are witnessing a shift in attitudes and significant momentum with regards to sustainability, with so many SMEs looking to find meaningful ways to help minimise their environmental impact,” he said.

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