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Commonwealth Bank of Australia out of thermal coal by 2030
New fossil fuel projects must prove carbon compliance
Commonwealth BankAustralia
Created before Nov 2016
Last update: 2019-03-19 12:04:09
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Commonwealth Bank's head office in Sydney. Photo: Google Earth/StreetviewAbout 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.
| Website | http://www.commbank.com.au |
| Headquarters |
11 Harbour Street
NSW 2000 Sydney
Australia
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| CEO/chair |
Matt Comyn CEO |
| Supervisor | |
| Annual report | Annual integrated report 2018 |
| Ownership |
listed on Australian Securities Exchange
CommBank's share holder structure can be accessed here. |
Related Dodgy Deals
Commonwealth Bank has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.
Projects - active profiles
Carmichael coal mine project Australia profile
There are no active projects for Commonwealth Bank now.
Projects - on record profiles
Great Barrier Reef Coal & Gas Exports Australia profile
Hazelwood coal power plant Australia profile
Liquified Natural Gas (LNG) project Papua New Guinea profile
Maules Creek coal mine Australia profile
Mountain top removal coal mining United States profile
Rosemont Copper Mine United States profile
Dodgy Deals map
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Media
Links
Policies
Voluntary initiatives
Commonwealth Bank has committed itself to the following voluntary standards:Investment policies
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.
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Campaigns
Commonwealth Bank and the Equator Principles
The Equator Principles are a voluntary commitment of banks to try to avoid or minimise the social, environmental and human rights impact of projects they finance. For more information on the Equator Principles see their website here and the campaign page of BankTrack here.
The Equator Principles exist already since 2003. Commonwealth Bank adopted the Equator Principles in 2014.
Reporting on the Equator Principles
Commonwealth Bank must report annually on its implementation of the Equator Principles. All information is supposed to be found here.
- Commonwealth Bank is in compliance with its reporting obligations. The 2018 report can be found here.
Dodgy Deals
Commonwealth Bank is involved in financing the following Equator Principles projects that BankTrack considers controversial.
There are no projects active for Commonwealth Bank now.
Human rights
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True leader
Front runner
Follower
Laggard
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BankTrack has assessed Commonwealth Bank on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. Commonwealth Bank is assessed as a Follower, with a total score of 5.5/12.
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Equator Principles
Implementation and reporting
Commonwealth Bank is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Good moves
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