Insights

NAB (ASX:NAB) share price hits 2-year high, CEO welcomes net zero commitment

The NAB share price took off today following comments made by boss Ross McEwan.
The post NAB (ASX:NAB) share price hits 2-year high, CEO welcomes net zero commitment appeared first on The Motley Fool Australia. –

The National Australia Bank Ltd (ASX: NAB) share price hit its highest point in more than 2 years today. Meanwhile, the bank’s boss welcomed the Australian Government’s plan to reach net-zero emissions by 2050.

NBA CEO Ross McEwan addressed the Federal Government’s Long-Term Emissions Reduction Plan, aiming to see the nation reach carbon neutrality by 2050. He stated the commitment was the “right and sensible approach”.

At market close today, the NAB share price is $29.30. That represents a 1.38% gain from its previous close, and a 2-year record high.

For context, the S&P/ASX 200 Index (ASX: XJO) closed in the green by the skin of its teeth, sporting a 0.07% gain. Meanwhile, the All Ordinaries Index (ASX: XAO) finished the day falling 0.017%.

Meanwhile, the Commonwealth Bank of Australia (ASX: CBA) share price is leading the other big four banks on Wednesday, gaining 0.95%. The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has brought up the rear, falling 0.07%.

Let’s take a closer look at McEwan’s comments on Australia’s shiny new commitment to net-zero.

NAB share price gains amid national net-zero plan

The NAB share price took off today amid McEwan’s public endorsement of net-zero emissions and reiteration of the bank’s commitment to carbon neutrality:

Climate action is everyone’s job. NAB wants to be part of the solution. We fully support net zero by 2050 and acknowledge our role in achieving that as a bank.

Last year, NAB celebrated achieving a decade of carbon neutrality. That’s right, the bank’s operations were deemed carbon neutral by the organisation now known as Climate Active way back in 2010. However, NAB hasn’t stopped there:

We are on track to achieve a net zero emissions lending portfolio by 2050.

Additionally, the bank has committed more than $11.5 billion to support 150 renewable energy transactions since 2003.

The post NAB (ASX:NAB) share price hits 2-year high, CEO welcomes net zero commitment appeared first on The Motley Fool Australia.

Should you invest $1,000 in National Australia Bank right now?

Before you consider National Australia Bank, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and National Australia Bank wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The NAB (ASX:NAB) share price is outperforming its rivals this month: Is it a buy?

Own NAB (ASX:NAB) shares? Here’s how the bank upset activists this week

Own Afterpay (ASX:APT) shares? Here’s how the big banks are honing in on the BNPL sector

NAB (ASX:NAB) share price nudges 2-year, post-COVID high

What is the outlook for the NAB (ASX:NAB) share price?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!