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
BankTrack is the international tracking, campaigning and support organisation focused on banks and the activities they finance.
We aim to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices.
Johan Frijns, BankTrack
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.
At the end of 2016 NAB controlled assets worth AUD778 billion. 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.
800 Bourke St W, Docklands
Victoria 3008 Melbourne
Andrew Thorburn |
Dig Deeper 2016|
Annual Financial Report 2016
listed on Australian Securities Exchange
Publicly listed in Australia and overseas.
Go here for an overview of the bank's sustainability policies.
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. National Australia Bank (NAB) adopted the Equator Principles in 2007.
National Australia Bank (NAB) reports annually on their implementation of the Equator Principles. The 2016 report can be found here.
National Australia Bank (NAB) further reports on its portfolio of projects financed under the Equator Principles on the Equator Principles website, here.
National Australia Bank (NAB) is involved in financing the following Equator Principles projects that BankTrack considers controversial.
True leader Front runner Follower Laggard
BankTrack has assessed National Australia Bank (NAB) on its implementation of the UN Guiding Principles on Business and Human Rights in June 2016. National Australia Bank (NAB) is assessed as a Laggard, with a total score of 3/12.
National Australia Bank (NAB) is reporting on the implementation here.
In November Oxfam congratulated National Australia Bank on taking a significant step forward in playing their part to stop unfair land deals that leave people around the world homeless and hungry. The NAB took the step of releasing a policy on improper land acquisitions which clearly outlines what actions the bank will take to seek to ensure their business dealings respect land rights. Read the Oxfam Australia news story.