
Active
This profile is actively maintained
Active
This profile is actively maintainedWebsite | http://www.anz.com.au |
Headquarters |
833 Collins Street, Docklands
3008 Melbourne
Australia
|
CEO/chair |
Shayne Elliott CEO |
Supervisor | |
Ownership |
listed on Australian Securities Exchange & New Zealand Stock Exchange
ANZ's shareholder structure can be accessed here. |
The Australia and New Zealand Banking Group Limited, commonly called ANZ, is the fourth largest bank in Australia, after the Commonwealth Bank, the National Australia Bank, and Westpac. ANZ was established in 1951. In addition to operations throughout Australia and New Zealand, ANZ has banking activities in 34 other nations. ANZ is the largest bank in New Zealand, where it operates two brands: ANZ and the National Bank of New Zealand.
ANZ's most important sustainability commitments can be found at the website sections listed below.
ANZ has the following CSR policies in place:
ANZ is linked to a number of companies and projects that BankTrack considers controversial (so called Dodgy Deals), e.g. as a current or past financier or through an expression of interest. The profiles below provide more details on the nature of ANZ's link to these deals.
Banks and Climate
The 2022 Banking on Climate Chaos report showed that ANZ provided US$ 17.86 million in financing to the fossil fuel industry between 2016 and 2021. Find further details on ANZ's fossil fuel portfolio and how it compares to other large banks globally on Fossil Banks No Thanks and in the Banking on Climate Chaos report.
Reclaim Finance tracks the coal, oil and gas policies of financial institutions, including banks, in the Coal Policy Tracker and Oil and Gas Policy Tool. Find further details on their assessment of ANZ's fossil fuel policy below.
Banks and Human Rights
BankTrack assessed ANZ in its 2022 Global Human Rights Benchmark, where it achieved 8.5 points out of 14 and was ranked as a front runner. In addition, ANZ scored 1 out of 3 on how it responds to alleged human rights violations linked to its finance, which were raised by civil society organisations. More information is detailed in the "Accountability" section of this profile.
Global Human Rights Benchmark 2022
Banks and Nature
ANZ's policies for forest-risk sectors (beef, soy, palm oil, pulp and paper, rubber and timber) have been assessed by the Forests & Finance coalition, achieving an overall score of 3.9 out of 10 and ranking it as a follower. ANZ achieved a score of 0 out of 10 specifically for its policies related to the beef sector and 3.6 out of 10 for its policies related to the palm oil sector. Between 2016 and 2022, ANZ provided USD 985 million in credit to companies operating in these forest-risk sectors. For more information, see the links below.
Forest & Finance Policy Assessment 2022: Overall scores
A bank can obtain a total of 10 points for the quality of its policies. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Forest & Finance Policy Assessment 2022: Beef
A bank can obtain a total of 10 points for the quality of its beef policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Forest & Finance Policy Assessment 2022: Palm Oil
A bank can obtain a total of 10 points for the quality of its palm oil policy. The total score is based on their scores per sector, weighted against their financing and investment for each sector. For further details on this see here. Based on their overall score, banks are then classified as Laggards, Followers, Front runners or Leaders, as follows:
Tracking the Net Zero Banking Alliance
ANZ is a member of the Net Zero Banking Alliance (NZBA) and has therefore committed to reduce its financed emissions to net zero by 2050; within 18 months of joining the alliance set interim targets for 2030 (or sooner) for high emission priority sectors, and within 36 months set further sector targets; set new intermediary targets every 5 years from 2030 onwards; annually publish data on emissions and progress against a transition strategy including climate-related sectoral policies; and take a robust approach to the role of offsets in transition plans. BankTrack track's implementation of these commitments in the NZBA compliance tracker.
Banks and Putin's war in Ukraine
BankTrack is keeping track of the public response of ANZ to Russia's illegal invasion of Ukraine. ANZ's public position on the war is unclear. We consider its exposure to Russia as limited. For further details, see the table linked below.