The National Environment Bank was conceived by visual artist John Reid as a contribution to an exhibition titled, Factor of Ten. A Future Worth Having, School of Art Gallery, Australian National University.

The launch of the NEB coincided with the exhibition opening and the first NEB Branch traded daily in the School of Art Gallery from October 2 to November 3, 2002.

NEB branches have since operated from the Dubbo Regional Gallery, Cowra Art Gallery, ANU School of Art Foyer Gallery, Tumut Gallery Space, Orange Regional Gallery and the Criterion Gallery, Braidwood.

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