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Home › Our Projects › Banks and the OECD Guidelines ›
Campaign

Overview: closed complaints on banks

By: BankTrack
By: BankTrack

This page gives an overview of OECD Guidelines complaints with results of particular relevance to private sector banks. For a full overview of OECD complaints relating to the financial sector, see the OECD Watch case database.

Society for Threatened Peoples Switzerland vs. UBS Group (Filed June 2020, concluded Dec 2021)

Upon accepting the complaint, the Swiss NCP affirmed that “a direct link between UBS’s products and services and the alleged human rights violations could not be excluded”. This represents the first time an NCP has recognized the responsibility banks have for their passive investments through indexed funds. 

However, on a second element of the complaint, the NCP concluded that no business relationship between UBS and Hikvision exists in relation to UBS’s role as custodian for Hikvision shares on behalf of clients. BankTrack and OECD Watch wrote to the UN Human Rights office, which subsequently clarified that banks do have responsibilities when it comes to the impacts of companies in which they hold shares on behalf of clients.

  • OECD Watch Case Database
  • Final Statement
  • UN Human Rights Office letter
  • BankTrack & OECD Watch reaction

Australian bushfire victims and Friends of the Earth Australia vs. ANZ Bank (filed January 2020, concluded December 2021)

The Australian NCP concluded that ANZ’s lending and investment practices are ‘consistent’ with the Guidelines, which resulted in disappointment for the complainants. Nonetheless, the NCP called for the OECD guidelines to be updated to address human rights threats caused by climate change, a statement welcomed by OECD Watch.

However, OECD Watch considers the NCP’s decision to be a conservative interpretation of the OECD Guidelines, particularly the responsibility of an entity in the financial sector for their adverse impacts, as well as the scope of due diligence vis-a-vis climate change. 

  • OECD Watch Case Database
  • Final statement 
  • Friends of the Earth reaction

ING’s contribution to climate change (Filed May 2017, Cocluded April 2019)

The Dutch NCP concluded that ING Bank must set concrete climate goals for its financial services that are in line with the Paris Climate Agreement. The parties reached an agreement on several points. Firstly, ING will adopt the Terra approach, with the underlying PACTA and PCAF methodologies, to measure, set targets, and steer the bank’s climate impact. Secondly, ING committed to reduce its thermal coal exposure to close to zero by 2025 and refrain from financing new coal-fired power plants. Thirdly, ING would collaborate with BankTrack, Greenpeace, Milieudefensie, and Oxfam Novib to call upon the Dutch Government to request the International Energy Agency to develop as soon as possible two models that both provide a 66% chance to limit global warming to below 1.5 degrees. This complaint saw the Dutch NCP take a clear position on climate goals for the first time.

  • OECD Watch Case Database
  • Final Statement
  • Oxfam Novib Press Release

Credit Suisse and the Dakota Access Pipeline (Filed April 2017, Concluded October 2019)

Credit Suisse agreed to update its internal guidelines on project financing. Credit Suisse agreed to incorporate language on project financing for the oil & gas, mining, and forestry & agribusiness sectors to set an expectation for clients to demonstrate alignment with the key objectives and requirements of the International Finance Corporation Performance Standard 7 – Indigenous Peoples, which incorporates the principles of FPIC. The parties also agreed that the Swiss NCP would follow-up to ensure Credit Suisse’s implementation of its commitment. The Society for Threatened Peoples (STP) noted that Credit Suisse’s compliance with FPIC is limited only to project financing, excluding company financing and stock broking, therefore it is only a small step in the right direction when it comes to comprehensive protection of indigenous communities.

  • OECD Watch Case Database
  • Final Statement
  • STP Press Release

ANZ’s role in displacing and dispossessing Cambodian families (Filed Oct 2014, concluded June 2018)

The Australian NCP stated that ANZ needs to strengthen its due diligence mechanisms and establish a grievance mechanism. As a result, in 2021 the bank launched the first fully elaborated grievance mechanism in the banking sector. The NCP recommended that ANZ take steps to promote internal compliance with its own corporate standards and to visibly demonstrate the proper application of the standards to ensure they are in line with the OECD Guidelines. However it NCP failed to call on the bank to provide concrete remedies for the harms to which it contributed. Following fiurther advocacy, in February 2020, five years after the complaint was filed, ANZ agreed to provide a financial package to the Cambodian families that were forcibly displaced, setting an additional human rights precendent for the global banking sector.

  • OECD Watch Case Database
  • Final Statement
  • IDI Press Release
  • Letter to ANZ by BankTrack and OECD Watch

Rabobank's loans to palm oil company Bumitama (Filed June 2014, concluded January 2016) 

The complaint by Friends of the Earth resulted in a commitment by Rabobank will modify its complaints procedure. The NCP stressed that financial institutions have a responsibility to exercise leverage to seek to prevent or mitigate the impact of their business conduct, to increase their leverage on their own clients if necessary, and respond to identified adverse impacts through engagement or, as last resort, divestment. The NCP further urged companies to develop their own policies towards genuine sustainable production of palm oil.

  • OECD Watch Case Database
  • Final Statement
  • FoE Europe Press Release

POSCO's involvement in HR and environmental impact in India (Filed Oct 2012, concluded March 2013)

The cases filed seperately against POSCO, the Dutch pension fund ABP and the Norwegian Government Pension Fund Global set an important precedent regarding the applicability of the OECD Guidelines to the financial sector. The Dutch NCP confirmed that the OECD Guidelines also apply to minority shareholding of financial institutions. 

  • OECD Watch Case Database
Resources
Documents
Links
2018-12-17 00:00:00

Letter from ANZ to BankTrack and OECDWatch on ANCP report regarding Phnom Penh Sugar

2nd response to October 29th letter
Correspondence
2018-12-17 00:00:00 | ANZ
2018-10-29 00:00:00

Letter from BankTrack and OECD Watch to ANZ on Compensation for Families Displaced by Phnom Penh Sugar

Correspondence
2018-10-29 00:00:00 | BankTrack and OECD Watch

OECD Guidelines for Multinational Enterprises

OECD Watch Case Database

Successes
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External
Blog
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ING withdraws finance for Botnia paper mill in Uruguay

2006 | BankTrack
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External
Blog
BankTrack news BankTrack blog Partner news Partner blog

ANZ agrees to landmark settlement with Cambodian farmers displaced by sugar company it financed

The agreement, the first of its kind by a commercial bank, sets an important human rights precedent for the banking industry worldwide.
2020-02-27 | Inclusive Development International
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bushfire survivors launch claim against ANZ under international law for financing climate change

2020-01-30 | Friends of the Earth Australia
Blog
BankTrack news BankTrack blog Partner news Partner blog

Indigenous Women file OECD Specific Instance against Credit Suisse for rights violations regarding pipeline financing

2020-01-30 | San Francisco | WECAN
Blog
BankTrack news BankTrack blog Partner news Partner blog

Friends of the Earth groups complaint against ING Group admissible, declares OECD

2020-01-20 | Amsterdam | Milieudefensie, OECD Watch
Blog
BankTrack news BankTrack blog Partner news Partner blog

Credit Suisse makes a step towards indigenous rights

2019-10-16 | Society for Threatened Peoples
Blog
BankTrack news BankTrack blog Partner news Partner blog

Friends of the Earth groups and supporters file OECD complaint against ING for financing palm oil abuses

2019-07-05 | Amsterdam | Milieudefensie, Sustainable Development Institute Liberia, WALHI
Blog
BankTrack news BankTrack blog Partner news Partner blog

Dutch NCP on OECD Guidelines: Banks must publish climate targets in line with Paris Climate Agreement

2019-04-19 | Nijmegen | BankTrack
Blog
BankTrack news BankTrack blog Partner news Partner blog

ANZ bank issued rare rebuke by Australian oversight body

2018-10-11 | Inclusive Development International
Blog
BankTrack news BankTrack blog Partner news Partner blog

Apartheids Banks: Civil society groups demand accountability for apartheid profiteers

2018-04-19 | Brussels | Centre for Applied Legal Studies (CALS), Open Secrets
BankTrack news BankTrack blog Partner news Partner blog

ING to be investigated under OECD grievance mechanism in climate finance test case

Dutch OECD ‘National Contact Point’ accepts NGOs’ complaint
2017-11-16 | Responsible Investor
BankTrack news BankTrack blog Partner news Partner blog

Disappointing and lengthy mediation leaves impacts of Xayaburi Dam unaddressed

Last week, the Austrian National Contact Point (NCP) concluded a lengthy and ultimately disappointing OECD Guidelines mediation process between Andritz, the turbine supplier for the Xayaburi Dam, and a coalition of Mekong-based and international civil society organizations.
2017-07-20 | Bangkok, Thailand
Blog
BankTrack news BankTrack blog Partner news Partner blog

NGOs file complaint against ING for violation of OECD guidelines

Organisations call on the Dutch bank to take further steps on climate
2017-05-09 | Amsterdam | BankTrack, Greenpeace, Friends of the Earth Netherlands, Oxfam Novib
Blog
BankTrack news BankTrack blog Partner news Partner blog

FoE response to final statement on complaint guidelines on Rabobank and Bumitama

2016-01-31 | Friends of the Earth Europe
Blog
BankTrack news BankTrack blog Partner news Partner blog

Bumitama cuts ties with illegal palm oil plantation following Friends of the Earth pressure

OECD accepts Friends of the Earth complaint against Rabobank
2014-12-16 | Brussels/Amsterdam | Friends of the Earth Europe
BankTrack news BankTrack blog Partner news Partner blog

Publication initial assessment for Friends of the Earth/Milieudefensie - Rabobank

2014-12-16 | OECD
BankTrack news BankTrack blog Partner news Partner blog

Displaced Cambodians file OECD complaint against ANZ Bank for financing massive land grab

2014-10-07 | Inclusive Development
BankTrack news BankTrack blog Partner news Partner blog

Several Individuals vs. NORDEX SE operating in Turkey

(OECD Watch complaint)
2014-08-04 | OECD Watch
Blog
BankTrack news BankTrack blog Partner news Partner blog

Friends of the Earth files OECD complaint against Rabobank finance for illegal palm oil

2014-07-01 | Amsterdam, Brussels | FOE Netherlands, FOE Europe
BankTrack news BankTrack blog Partner news Partner blog

OECD complaint against Rabobank concerning financial services to Bumitama

2014-06-27 | Milieudefensie
Blog
BankTrack news BankTrack blog Partner news Partner blog

UK government accepts complaint over GCM Resources’ Bangladesh coal mine

2013-06-14 | London | Miriam Ross
Blog
BankTrack news BankTrack blog Partner news Partner blog

Complaint seeks resettlement and compensation from Shell and UK banks for damage caused by Sakhalin II oil and gas project

2012-07-31 | Sakhalin Island, Russia | Pacific Environment
Blog
BankTrack news BankTrack blog Partner news Partner blog

BP violating human rights rules, says UK government

Company failed to respond to alleged intimidation by Turkish security forces along its UK-backed Caspian oil pipeline
2011-03-09 | UK | The Corner House et. al
BankTrack news BankTrack blog Partner news Partner blog

NGOs lodge complaint against ANZ Bank for PNG illegal logging ties

2006-08-23 | Australia and Papua New Guinea | Rainforest Action Network
Blog
BankTrack news BankTrack blog Partner news Partner blog

ING withdraws finance for Botnia paper mill in Uruguay

2006 | BankTrack
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