Banks, climate and energy
Banks continue to play a key role as major financiers of the coal, oil and gas industry. This is effectively delaying the urgent transition from a fossil fuel-based to an efficiency- and renewable energy-based economy. BankTrack’s climate and energy campaign demands from banks to play their part in stopping climate change by cutting all ties with the fossil-fuel industry.
Banks and human rights
BankTrack's human rights campaign pushes for banks to fully meet their responsibilities to respect human rights and human dignity across all their operations. The UN Guiding Principles on Business and Human Rights provide the clearest expression yet of these responsibilities. Since 2011 our campaign has focused on benchmarking banks, challenging bank finance for human rights abuses and engaging for better international standards.
Banks, forests and biodiversity
Banks have a large impact on forests worldwide as they finance companies and projects which initiate or cause deforestation. BankTrack's forest campaign pushes banks to act more responsibly regarding their forest-related investments and aims to stop banks from financing companies, projects and business activities that cause a large negative impact on forests.
Tracking the Equator Principles
The Equator Principles are a risk management framework, created and adopted by financial institutions, for determining, assessing and managing environmental and social risks in financing projects. Since their adoption in 2003, BankTrack has tracked the Equator Principles and their implementation to strengthen the principles and ensure that EP banks no longer finance projects that are not compliant with the EPs.
Tracking the Principles for Responsible Banking
The Principles for Responsible Banking (PRBs) are an initiative of the United Nations Environment Programme Finance Initiative (UNEP-FI). They encourage banks to align their operations with the social and environmental commitments expressed in the Paris Climate Agreement and the United Nations' Sustainable Development Goals. BankTrack monitors the implementation of the PRBs through engagement with PRB banks to ensure that they deliver on what they promise.
Banks and the OECD Guidelines
The OECD Guidelines are recommendations to multinational enterprises - including banks - on responsible business conduct (RBC). BankTrack acts as an Advisory Group member of the OECD’s Proactive Agenda Project on RBC in the Finance Sector, monitoring and providing comments on the developing OECD due diligence guidance related to the financial sector. We also monitor OECD NCP complaints which involve financial institutions.