BankTrack news
BankTrack blog
Partner news
Partner blog
Bank
National Australia Bank (NAB)Australia
Active
This profile is actively maintained
Last update: 2023-02-21 15:51:40
National Australia Bank's head offices in Melbourne. Photo: Aaroncrick via Wikimedia Commons (CC BY-SA 3.0)
Active
This profile is actively maintained
Last update: 2023-02-21 15:51:40
About
| Website | https://www.nab.com.au/ |
| Headquarters |
800 Bourke St W, Docklands Victoria
3008 Melbourne
Australia
|
| CEO/chair |
Ross McEwan CEO |
| Supervisor | |
| Ownership |
listed on Australian Securities Exchange
National Australia Bank's shareholder structure can be accessed here. |
The National Australia Bank Group is one of the four biggest banks in Australia. It was founded in 1982 as the National Commercial Banking Corporation of Australia Limited. The Group is structured around regional banking and wealth management operations, active in international capital markets and institutional banking business. Its subsidiaries include MLC and Bank of New Zealand. In 2016 it divested its UK subsidiary Clydesdale and Yorkshire Banking Group, following the 2015 sale of its US subsidiary Great Western Bank, as part of a process of refocusing on its core markets of Australia and New Zealand.
Sustainability
Commitments
Policies
Voluntary standards
National Australia Bank's most important sustainability commitments can be found at the website sections listed below.
National Australia Bank (NAB) has committed itself to the following voluntary standards:
Dodgy Deals
National Australia Bank (NAB) 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 National Australia Bank (NAB)'s link to these deals.
Campaigns
Banks and Climate
The 2022 Banking on Climate Chaos report showed that National Australia Bank provided US$ 6.61 in financing to the fossil fuel industry between 2016 and 2021. Find further details on National Australia Bank 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.
Banks and Human Rights
BankTrack assessed National Australia Bank in its 2022 Global Human Rights Benchmark, where it achieved 6.5 points out of 14 and was ranked as a follower. In addition, National Australia Bank scored 0 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
BankLast update
Country
Score
Ranking
Details
National Australia Bank (NAB)
AUS
6.5
Follower
0
Explanation
Laggard
Follower
Front runner
Leader
0 - 3 points
3.5 - 6.5 points
7 - 10 points
10.5 - 14 points
For more details see this page.
Tracking the Net Zero Banking Alliance
National Australia Bank 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.
News
BankTrack
Partners
Blog
External
Resources
Documents
Links
Accountability
Grievances
Response
tracking
National Austrial Bank has established a grievance process whereby individuals and communities can raise concerns also regarding human rights issues. Complaints can be lodged via email at grievances@nab.com.au.
Stakeholders may also raise complaints via the OECD National Contact Points (see OECD Watch guidance).
This page evaluates National Australia Bank (NAB)'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".
Impacts reviewed
Responded?
Total score
Response
Action
Monitoring
Banks and Dirty Diesel: Vitol and Trafigura (May 2017)
0
0
0
0
Response
0
Out of 1
Rationale for score
The bank publicly responded stating that "we do not comment on specific clients or projects". The bank refers to its Human Rights policies, but did not comment on or respond to the substance of the issues raised. Action
0
Out of 1
Rationale for score
No information available on whether the bank engaged with its client or took appropriate action. Monitoring
0
Out of 1
Rationale for score
No information available on whether the bank monitored progress. More info
Rio Tinto's Jadar mine, Serbia (Letter, Dec 2021)
0
0
0
n/a
Response
0
Out of 1
Rationale for score
The bank's response neither acknowledges its link to the impact, nor addresses the issues raised Action
0
Out of 1
Rationale for score
The bank does not describe any engagement with its client or approptriate action Monitoring
n/a
Rationale for score
The impact was not raised over a year ago and therefore is not scored on monitoring progress. More info
Average
100%
0
0
0
0
Send feedback
on this profile