Banks| Policies| Dodgy Deals| Campaigns
About us| Blog| Publications| Successes| Contact us| Donate
About BankTrack
Visit us
Organisation
Our team
Our board
Guiding principles
Team up with us
Jobs at BankTrack
Our annual reports
Funding and finances
History
BankTrack in the media
Our privacy policy
Donate
2023-01-23 00:00:00
Berta Cáceres: new rules for banks could help stop defender killings
2023-01-16 00:00:00
In the balance: Why European due diligence legislation must cover financial services
2022-12-08 00:00:00
Exposed: Western banks funding Qatar’s carbon bombs
2022-12-08 00:00:00
Right-wing attack on sustainable finance is the latest form of climate denial
2022-12-14 11:08:26
HSBC announces it will no longer finance new oil and gas fields
2022-10-13 15:56:39
More major banks and insurers refuse to support EACOP
2022-09-16 10:38:48
European Parliament passes emergency resolution against human rights violations & environmental threats linked to EACOP
2022-06-27 09:49:16
Crédit Agricole takes first step to phase out from the oil and gas sector
Connect
2022-11-22 00:00:00
Banking on Thin Ice: Two years in the heat
2022-11-17 00:00:00
BankTrack Global Human Rights Benchmark 2022
2022-10-21 00:00:00
Burning forests in the name of clean energy? How banks are failing to exclude the harmful wood biomass industry from finance
2022-06-28 00:00:00
The East African Crude Oil Pipeline (EACOP): Finance Risk Update No. 3
2022-04-05 00:00:00
The BankTrack Human Rights Benchmark Asia
2022-03-30 00:00:00
Banking on Climate Chaos 2022
See all publications
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Home › News
Bushfire survivors and Friends of the Earth’s response to Initial Assessment of ANZ climate complaint under OECD guidelines
Start
Banks

By: Friends of the Earth Australia
2020-11-25

Contact:

Emillia Nazar, 0430135799

Jack Egan


Share this page:

ANZ faces OECD complaint for financing fossil fuel projects that contribute to the climate crisis. Photo: Friends of the Earth Australia
Go to:
Start
Related Banks

On November 24th the Australian National Contact Point published its initial assessment of Bushfire survivors and Friends of the Earth Australia’s OECD climate complaint against ANZ. This Initial Assessment is available here.

Jack Egan​, one of the co-complainants, whose home in coastal New South Wales was destroyed in January’s bushfires, said: “I welcome the Independent Examiner’s acceptance of our climate complaint against ANZ and initial finding that ‘climate change, fossil fuels (and associated GHG) are sufficiently material to responsible business conduct as understood in the OECD Guidelines.”

Friends of the Earth’s Legal officer Emillia Nazari said: “We welcome the offer of the Australian National Contact point to hear this important climate complaint and look forward to productively partaking in the process moving forward. We note that since our complaint was made earlier this year ANZ has announced it will exit thermal coal by 2030.”

“The OECD Guidelines clearly state that when an enterprise is directly linked to negative impacts of another entity for which prevention or mitigation is not feasible, it should consider disengaging responsibly. We therefore respectfully disagree with the Independent Examiner's finding in relation to divestment and will continue to make our case that responsible fossil fuel divestment is a globally and scientifically recognised strategy for emission target setting and environmental management that falls within the scope of the Guidelines”, she said.

The official complaint against ANZ bank is being brought under the guidelines of the Organisation for Economic Co-operation and Development (OECD), an international set of rules governing corporate conduct. A full version of the complaint lodged in January 2020 and backgrounder is available here.

The complaint has been submitted to the Australian Government’s OECD National Contact Point (NCP), which is responsible for hearing complaints of corporate wrong-doing under the OECD Guidelines. The complaint alleges that ANZ—one of Australia’s largest financier of fossil fuel industries—has failed to meaningfully adhere to the Paris Agreement reduction targets across its lending portfolio. The complaint also alleges the bank’s failure to disclose the full extent of its lending emissions is a breach of the Guidelines.

The AusNCP has offered its ‘good office’ and will seek to mediate a solution between the parties’ based on the OECD Guidelines. If an agreement cannot be reached, a ruling and recommendations will be given within one year.

Go to:
Start
Related Banks

Related banks

ANZ Australia

active
Browse
Home
Banks
Policies
Dodgy Deals
Campaigns
About
About BankTrack
Donate
Contact BankTrack
Publications
Victories
Follow Us
News
BankTrack blog
Facebook
Twitter Fossil Banks No Thanks Twitter Fossil Banks No Thanks Instagram
Affiliate Websites
Fossil Banks No Thanks
StopEACOP
Forests & Finance
Banks & Biodiversity
Drop JBS
Bank of Coal
Don't Buy into Occupation
Vismarkt 15
6511 VJ Nijmegen
The Netherlands

Tel: +31 24 324 9220
Contact@banktrack.org
©2016 BankTrack                Webdesign by BankTrack and EASYmind
BankTrack is a registered charity in the Netherlands (ANBI) - RSIN 813874658
Find our privacy policy here

Stay up to date

Sign up now for all BankTrack's news


Make a comment

Your comment will be reviewed, before being posted