Bendigo & Adelaide Bank Ltd

Lobbying Governance

AI Extracted Evidence Snippet Source

#### Board's oversight of climate related risks and opportunities

The Bank's Board owns the Bank's Climate Change Policy Statement and Climate Change Action Plan with the various Board Sub-Committees undertaking deeper oversight of the strategy where relevant. For example, the Board Audit Committee are responsible for reviewing progress against the Climate Change Action Plan while the Board Financial Risk Committee review climate related changes to the Credit Policy and climate change impacts to the lending portfolio and credit quality.

The Board Audit Committee receives scheduled half year updates on progress on our Climate Change Action plan with annual reporting to the full Board.

#### Management's role in assessing and managing climate-related risks and opportunities

The Executive Committee is responsible for implementing the Climate Change Action Plan with a specific focus on the actions relevant to their area of responsibility and overseeing the governance, strategy and risk management relating to climate change. This includes ensuring KPIs are updated and goals are assigned to each Executive and their relevant leaders, and performance is managed where responsibilities for actions and outcomes are delegated within their teams.

While all members of the Executive Committee have responsibilities in relation to the Bank's Climate Change Action Plan, the Executive – Rural Bank, Partnerships, Marketing and Corporate Affairs is responsible for coordinating the development of our actions and commitments to embed climate change action. As the Climate Change Action team reports into this Executive, progress updates on the Climate Change Action Plan are included in the Division's monthly board report.

Our Climate Change Action Strategy Group inform and assist in the development of a comprehensive climate action strategy with the aim of demonstrating how we will support the transition to a lower-carbon economy. The outputs from this reference group will feed into submissions and recommendations made to the Bank's Executive, the Board sub-committees, and the Board.

The Executive Rural Bank, Partnerships, Marketing and Corporate Affairs and the Chief Risk Officer are co-sponsors of our Climate Change Action Strategy Group and have joint responsibility for ensuring the group considers climate change risks and opportunities under the four core elements of the Group's operations: governance, strategy, risk management framework and metrics and targets.

https://www.bendigoadelaide.com.au/globalassets/documents/bendigoadelaide/investorcentre/results-and-reporting/sustainability-reports/climate-related-financial-disclosures-report-2021.pdf

At present, Bendigo and Adelaide Bank has a largely reactive approach to direct government interaction at State and Federal levels. That is, our Bank will receive, review, and respond to requests from government to meet with elected representatives or bureaucrats on a case-by-case basis. The Bank's senior leaders also engage with government via industry groups (primarily the Australian Bankers Association and Business Council of Australia). These interactions are tracked by the Corporate Affairs team and reported on via the monthly Corporate Affairs Report which is viewed by the Executive, Board, and other senior leaders across the Group. The Bank's staff are bound by the Group's Communications Policy which outlines who is an authorised spokesperson and their responsibilities. This policy also ensures public comments are aligned and approved. Furthermore, all staff have access to our internal Climate Change Action Sharepoint site.

https://www.bendigoadelaide.com.au/globalassets/documents/bendigoadelaide/topicsanddefinitions/sustainability-disclosures/cdp/cdp-2023.pdf

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]At present, Bendigo and Adelaide Bank has a largely reactive approach to direct government interaction at State and Federal levels. That is, our Bank will receive, review, and respond to requests from government to meet with elected representatives or bureaucrats on a case-by-case basis. The Bank's senior leaders also engage with government via industry groups (primarily the Australian Bankers Association and Business Council of Australia). These interactions are tracked by the Corporate Affairs team and reported on via the monthly Corporate Affairs Report which is viewed by the Executive, Board, and other senior leaders across the Group. The Bank's staff are bound by the Group's Communications Policy which outlines who is an authorised spokesperson and their responsibilities. This policy also ensures public comments are aligned and approved. Furthermore, all staff have access to our internal Climate Change Action Sharepoint site.

CDP Questionnaire Response 2022

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

CDP Questionnaire Response 2023