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About Commonwealth Bank
The Commonwealth Bank of Australia (commonly referred to as the CommBank), was founded in 1911 by the Australian government, listed on the Australian Stock Exchange in 1991, and fully privatised in 1996. The Commonwealth Bank is on of the "big four" Australian banks, and the largest Australian listed company on the Australian Securities Exchange as of August 2015. The bank has brands including BankWest, Colonial First State Investments, ASB Bank (New Zealand), Commonwealth Securities and Commonwealth Insurance.
11 Harbour Street
NSW 2000 Sydney
Matt Comyn |
|Annual report||Annual report 2021|
listed on Australian Securities Exchange
Commonwealth Bank's shareholder structure can be accessed here.
|Complaints and grievances||
Commonwealth Bank does not operate a complaints channel for individuals and communities that may be adversely affected by its finance. However, it is possible to contact the bank via corporateresponsibility@cba.
Stakeholders may raise complaints via the OECD National Contact Points (see OECD Watch guidance).
Related Dodgy Deals
Dodgy Deals map
Tracking the Equator Principles
EPFIs reporting status
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
Goal 2025/2030: Pledged to publish interim commitments
Goal 2050: Net zero by 2050 (business lending), also commitment under NZBA.
CBA signed up to the NZBA on 9 February 2022.
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
Commonwealth Bank's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Follower, with a total score of 5 out of 14.
Due dilligence: 1.5/5
This page evaluates Commonwealth Bank's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
Banks failing to address severe human rights impacts transparently, finds BankTrack research
Meet the banks funding the owners of the Cambo oil field
Equator Banks involved in financing at least 200 fossil fuel projects since Paris
Fossil Banks No Thanks demands banks commit to end fossil fuel finance before Glasgow Climate Summit
Australia's Commonwealth Bank taken to court over oil and gas financing policies
Banking on Climate Chaos 2021: World’s 60 largest banks have poured USD 3.8 trillion into fossil fuels since Paris Agreement
Equator Banks fail communities on consultation and grievance mechanisms, new study finds
4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows
Too little, too late
Commonwealth Bank of Australia out of thermal coal by 2030
Australian Prudential Regulation Authority demands banks, insurers act on climate risk
Banks massively financing fossil fuels unclear about future of ... fossil fuels
Behind banks' smokescreen
Australian inquiry slams greedy banks and regulator for rampant misconduct
Big four banks quit coal only to invest in other fossil fuels, research finds
Big four banks quit coal only to invest in other fossil fuels, research finds
Report finds major banks ramped up fossil fuel financing to $115 billion in 2017
New report: Towards responsible and inclusive financing of the palm oil sector
Campaign group promises climate change resolution at Commonwealth Bank
Commonwealth Bank's first climate policy attacked by environmental groups
Carmichael coalmine: Commonwealth Bank indicates it will not lend to Adani
Analysis: Commonwealth Bank rejects shareholder legal case over climate change risks
Commonwealth Bank shareholders sue over 'inadequate' disclosure of climate change risks
Banks provide billions for Dirty Diesel traders while failing to act on human rights, says new briefing
- Of 26 banks contacted, not one has pressured companies over toxic fuel exports to Africa
Financing of coal industry expansion by top banks undermining Paris Agreement
New polling shows half of customers prepared to change banks over fossil fuels – as prominent Australians demand climate action
New poll: Australians draw the line at badly behaving banks
No excuse: How Australia’s big four banks can better respond to land grabs
Australian banks: New Report highlights gulf between renewable and fossil fuel financing
Australian banks 'favour fossil fuel projects over renewables by $6 to $1'
Australian advocacy group sues Commonwealth Bank over climate change shareholder resolution
Australian and French banks target of protests on both sides of the world for investing in Australian coal projects
Sixty prominent Australians call on ‘big four’ banks to end fossil fuel investment
BankTrack calls upon banks to Close the Gap on investment policies
Banking on Climate Chaos 2022
Commonwealth Bank signs up to the Net-Zero Banking Alliance
Letter from BankTrack to Commonwealth Bank of Australia on lithium mining in Serbia’s Jadar Valley
Letter from BankTrack to Commonwealth Bank on the bank's progress on its fossil fuel finance since COP24
Final Report Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry-1
Final Report Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry-2
Final Report Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry-3
Letter from BankTrack and 120 organisations to Commonwealth Bank on Demands FBNT campaign
Environmental, Social & Governance (ESG) Lending Commitments
Banking with Principles? Second Edition June 2016
Group Energy Exposures and Assessed Carbon Emissions of Project Finance Energy Sector
Voluntary standardsCommonwealth Bank has committed itself to the following voluntary standards:
The Commonwealth Bank's group's asset management business, Colonial First State Group Asset Management and insurance business, CommInsure, are both signatories to the UN Principles for Responsible Investment. Both the Commonwealth Bank and its wholly-owned subsidiary Colonial First State report to the Carbon Disclosure Project. Read here how the Commonwealth Bank Group is managing, and reporting on, its ESG impacts. Commonwealth Bank's web page on corporate social responsibility can be accessed here.
Implementation and reporting
Commonwealth Bank is reporting on the implementation here.