ANZ
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OVERALL |
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Owned |
AUS |
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N/A |
Bank
Australia's fourth largest bank.
Australia and New Zealand Banking Group Ltd | AUS | website |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Australia and New Zealand Banking Group Ltd | ||||
This company received an S&P Global ESG Score of 83/100 in the Banks category of the S&P Global Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices (last updated 23 Sep 2022). The rankings are based on an analysis of corporate economic, environmental and social performance, assessing issues such as corporate governance, risk management, environmental reporting, climate strategy, human rights and labour practices.
Source: S&P Global (2022)
This company's business operations meet the requirements of the Climate Active Carbon Neutral Standard, and have been certified carbon neutral since 2010.
Source: Climate Active (2020)
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)
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of B.
Source: CDP (2023)
Modern slavery disclosure is a critical step in mitigating the risk associated with modern slavery practices in companies' operations and supply chains. The quality of the disclosure signals the level of commitments and efforts that the companies have put in managing these risks. In 2021 the Monash Centre for Financial Studies analysed and ranked the disclosure quality of the modern slavery statements submitted by the 300 largest listed companies on the Australian Stock Exchange (ASX300). This company's modern slavery disclosure statement received a grade of B.
Source: Monash University (2021) |
Banks play a critical role in enabling and sustaining fossil fuel projects. ANZ loaned $23.4 billion to dirty fossil fuel projects between 2008 and 2016, vastly overshadowing its lending to renewable energy.
Source: Market Forces (2016)
The 2021 report "Banking on Climate Chaos" analyses the world's 60 largest banks and their financing of tar sands oil, Arctic oil, offshore oil and gas, LNG, coal mining, and coal-fired power between 2016 and 2020. This bank invested US$15.2 billion between 2016 and 2020, making it the world's 44th worst fossil fuel funder.
Source: RAN (2021)
Oxfam Australia's 2014 report, 'Banking on Shaky Ground - Australia's big four banks and land grabs', includes evidence that ANZ, Westpac, NAB and the Commonwealth Bank have backed companies that have contributed to illegal logging, forced evictions, inadequate compensation, food shortages and child labour. In Cambodia, the ANZ Bank is financing a sugar plantation that has involved child labour, military backed land grabs, forced evictions and food shortages. Oxfam's 2016 follow-up report showed that little has changed. ANZ still has no policy on agriculture or land issues, and is yet to substantially respond to Oxfamâs 2014 report.
Source: Oxfam Australia (2016)
In 2017 this company agreed to pay $50 million to settle an interest rate-rigging case brought by ASIC. As part of the in-principle settlement, ANZ will admit that it attempted to engage in unconscionable conduct, and manipulated the bank bill swap rate (BBSW) 10 times between September 2010 and February 2012. The BBSW is the key rate the market uses to set all other lending rates, such as mortgages and credit cards.
Source: news article (2017)
The 2018 update of the International Campaign to Abolish Nuclear Weapons' (ICAN) global report, "Don't Bank on the Bomb" showed that 329 financial institutions from around the world invested into 20 companies involved in the production, maintenance and modernization of nuclear weapons. Since 2014 this financial institution invested over US$1.9 billion into 13 of the 20 nuclear weapons producers named in the report.
Source: ICAN (2018)
This bank is the world's 35th largest provider of loans and underwriting for single-use plastic polymer production, according to Minderoo Foundation's 2021 Plastic Waste Makers Index. Institutional asset managers and global banks are providing billions of dollars to companies that produce polymers from fossil fuels, as much as 100 times more than they provide to companies trying to shift to a circular economy. Plastic pollution is one of the biggest, most urgent threats facing our planet and our health.
Source: Minderoo Foundation (2021)
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 32%.
Source: Forest 500 (2022) |
This bank appeared at #22 in a list of banks backing expansion in the tar sands. They have loaned US$44 million to companies operating in the Canadian tar sands since 2007, according to Bloomberg. Extracting oil from tar sands produces between 3 and 5 times the greenhouse gas pollution of conventional oil production, pollutes water, destroys forests, and uses huge amounts of energy to process. [Listed under Information due to age of report]
Source: RAN (2010)
This company received a score of 49.9/100 in the Newsweek Green Ranking 2017, which ranks the world's largest publicly traded companies on eight indicators covering energy, greenhouse gases, water, waste, fines and penalties, linking executive pay to sustainability targets, board-level committee oversight of environmental issues and third-party audits. Ranking methodology by Corporate Knights and HIP Investor.
Source: Newsweek (2017)
According to the democracyforsale.net website, this company donated $1,588,848 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC).
Source: Democracy For Sale (2018)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: 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)
The Equator Principles (EPs) are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to assess and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
Source: Equator Principles (2018)
Green Bonds enable capital-raising and investment for new and existing projects with environmental benefits. The Green Bond Principles are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market by clarifying the approach for issuance of a Green Bond.
Source: IMCA (2018)
Between 2015 and 2018 this company paid $6 billion tax on a total income of $89 billion, earning the number 6 spot on Michael West's Top 40 Tax Payers 2020. West calculated which of Australia's largest companies have paid the most tax using three years of tax transparency data published by the Australian Tax Office.
Source: Michael West (2018)
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #43/400, with a total score of 28.5/100.
Source: World Benchmarking Alliance (2022)
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see this bank's profile.
Source: BankTrack (2018) |
Company Details
Type | Public company |
Subsidiaries | ANZ Bank New Zealand Ltd
Bank |
Contact Details
Address | 100 Queen St, Melbourne, VIC, 3000, Australia |
Freecall | 1800 805 154 |
Website | www.anz.com |