Based in Melbourne Patterson will be responsible for establishing NAB's global environmental markets trading activity.

she will initially focus on servicing the trans-Tasman market, establishing trading in Certified Emission Reduction Units and Renewable Energy Certificates (REC's) to support NAB clients in Australia and New Zealand.

Patterson is a highly experienced specialist in environmental and energy markets. She has a proven track record with over 20 years experience in building emerging derivative businesses in electricity, carbon and renewable financial products.

 She commenced her career in the energy industry where she established an electricity derivative business for Southern Hydro Partnership and later Edison Mission Energy.

In 2004, Patterson joined ANZ Bank, where she developed the Electricity, Renewable and Emissions business for the Markets division. 

In 2009 she established a consulting firm, Innovative Carbon, and has advised businesses on implications and opportunities associated with the Carbon Pollution Reduction Scheme.  These include purchasing carbon offsets in the Clean Development Mechanism, Renewable Energy Target, energy policy, energy efficiency legislation and sustainability.

Carbon trading is already a large global market transacting approximately $US125 billion a year and is beginning to take on a larger role in the Asia Pacific region with New Zealand commencing its scheme on 1 July this year.

Patterson says managing carbon risk is now a key strategic issue faced by all Australian and New Zealand businesses, but the opportunity side is currently underestimated.

With just 24% of Australian businesses factoring carbon price into investment decisions (according to the Australian Chamber of Commerce and Industry), clients need solutions to help them manage risk and create opportunities arising from the shift to a lower carbon environment. 

"There is significant opportunity for companies to reduce costs through energy efficiency, particularly in the wake of rising energy prices," she says.

Patterson's appointment continues NAB's commitment to providing environmental finance solutions for its clients to manage risk and improve carbon productivity. 

As well as embarking on its own internal carbon neutral targets which are scheduled to be achieved later this year, the Bank has offered clients an environmental advisory service since 2008. 

In the past six years around 2,000 MWs of renewable generation has been developed in Australia.  NAB has been involved in financing over two-thirds of this activity.

Patterson says NAB is already involved on a client basis in the European trading scheme and this is a good platform for it to expand its product capability into Australia and New Zealand. 

"The strong knowledge NAB has gained while offsetting its own carbon footprint will also be invaluable to our customers. 

"Sometimes companies will not purchase a carbon credit because it has been difficult to assess creditability and certainty of purchase," says Patterson.