Bank Australia
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OVERALL |
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Owned |
AUS |
Rating |
N/A |
Customer-owned bank
Formerly bankmecu. Customer owned bank.
Bank Australia Ltd | AUS | website |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Bank Australia Ltd | ||||
This company is a member of the Global Alliance for Banking on Values, an independent network of banks using finance to deliver sustainable economic, social and environmental development.
Source: GABV (2018)
Banks play a critical role in enabling and sustaining fossil fuel projects. This bank has no current record of funding fossil fuels and has provided a position statement: "Bank Australia has not made and will not make any loans to the fossil fuel industry, including coal and coal seam gas. Bank Australia is also conscious of the impact of its own operations and has been carbon neutral since 2011."
Source: Market Forces (2016)
Greenpeace's Reenergise campaign ranks Australia's biggest electricity using companies on their commitments and actions regarding renewable energy use. This company has: committed to powering their operations by 100% renewable electricity by 2030; signed at least one power purchase agreement (PPA) to buy power from a wind or solar project; invested in on-site solar.
Source: Greenpeace (2021)
This company is a member of the Customer Owned Banking Association. Unlike banks, profits are not paid to external shareholders, but put back into better products and services for customers and their local communities.
Source: COBA (2018)
This company won the Large Business Award at the 2018 Banksia Sustainability Awards. "In October 2017, the bank announced an ambitious ten year strategy for the Bank Australia Conservation Reserve ? an environmental conservation project that had been in existence since 2008, but lacked a long-term strategic vision."
Source: Banksia Foundation (2018) |
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: adopt a science-based emissions reduction target; responsible corporate engagement in climate policy; report climate change information in mainstream reports as a fiduciary duty; commit to 100% renewable power.
Source: We Mean Business (2021)
This bank is a member of the Responsible Investment Association Australasia, whose goal is to see more capital being invested more responsibly; shifting more capital into sustainable assets and enterprises and shaping responsible financial markets to underpin strong investment returns and deliver a healthier economy, society and environment.
Source: RIAA (2018)
The United Nations Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of 10 values in the areas of human rights, labour standards, the environment, and anti-corruption. However it's non-binding nature has been widely criticised, and many signatory corporations continue to violate the Compact's values.
Source: UN Global Compact (2020) |
Company Details
No company details currently available for Bank Australia Ltd |
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Contact Details
Address | Kew, VIC, Australia |
Phone | 132 888 |
mail@bankmecu.com.au | |
Website | www.bankaust.com.au |