Bank of New Zealand
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One of New Zealand's big 4 banks.
|Bank of New Zealand||NZL||website|
| National Australia Bank Ltd
owns 100% of Bank of New Zealand
|Bank of New Zealand|
The Enviro-Mark certification programme helps organisations develop and implement an environmental management system (EMS) and then certifies organisations after an independent audit for these efforts. This company has a Gold certification.
Source: Toitu (2020)
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. UNPRI is a voluntary agreement. This company's BNZ Investment Services subsidiary is a signatory.
Source: UNPRI (2020)
This company is a member of the New Zealand-based Sustainable Business Council, signifying a commitment to reduce their greenhouse gas emissions and build sustainability into their purchasing decisions. Members are required to introduce annual reporting practices, which outline their progress on environmental, social, governance and economic issues.
Source: Sustainable Business Council (2020)
This company has sustainability claims on its website including the areas of responsible investing, environmental management, sustainable finance and carbon neutrality.
Source: company website (2020)
|National Australia Bank Ltd|
NAB has achieved carbon neutral certification under the NCOS Carbon Neutral Program for its Australian business activities. NAB continues to implement a number of programs aimed at reducing energy use and maintaining carbon neutral operations. These include consolidating building space, energy efficient lighting and technology upgrades and solar reflective roof paint at network sites. Carbon offsets are only purchased where residual emissions cannot be avoided.
Source: Australian Carbon Trust (2018)
In 2019, 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 (2019)
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)
The 2020 Global 100 Most Sustainable Corporations in the World list is an extensive data-driven corporate sustainability assessment. The ranked companies are leaders in the field of a sustainable business approach. The efficiency of a company's energy, water, CO2 and waste management is measured in relation to its total sales volume. The disclosure of that information is a pre-condition for the assessment. Of the 427 companies in its peer group, this company ranked #6.
Source: Corporate Knights (2020)
This company received an S&P Global ESG Score of 79/100 in the Banks category of the 2019 SAM Corporate Sustainability Assessment, an annual evaluation of companies' sustainability practices. 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 (2019)
Banks play a critical role in enabling and sustaining fossil fuel projects. NAB loaned $14.9 billion to dirty fossil fuel projects between 2008 and 2016, vastly overshadowing its lending to renewable energy.
Source: Market Forces (2016)
The 2018 report "Banking on Climate Change" analyses 36 banks and their financing of tar sands oil, Arctic oil, ultra-deepwater oil, LNG, coal mining, and coal-fired power between 2015 and 2017. This bank invested over US$811 million and received a D grade for its policies.
Source: RAN (2018)
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. Across Asia, the NAB has been funding Asian palm oil giant Wilmar which has been linked to land grab allegations in Indonesia and Malaysia, since 2011. A NAB loan in 2013 came after Newsweek had ranked Wilmar as the least sustainable company in the world for its environmental performance for two years running. Oxfam's 2016 follow-up report explains how NAB released a new policy on improper land acquisitions. Despite this progress, NAB is yet to undertake any significant action to support justice for affected communities.
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, NAB will admit that it attempted to engage in unconscionable conduct, and manipulated the bank bill swap rate (BBSW) several times between June 2010 and December 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)
In 2015 the Fair Finance Guide ranked the top financiers of selected fossil fuels companies (loans & underwriting) and compared it to their financing of renewable energy. This bank provided US$3.3 billion for fossil fuels and only US$674 million for renewable energy between 2009 and 2014.
Source: Fair Finance (2015)
Named and shamed in the 2015 CHOICE Shonky Awards for its "Low Rate" credit card. Although official interest rates have fallen to historically low levels since 2011 (from 4.75% in June 2011 to 2.00% more recently), NAB's credit card interest rates have headed in the other direction.
Source: Choice (2015)
According to the democracyforsale.net website, this company donated $5,393,223 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: put a price on carbon; responsible corporate engagement in climate policy; report climate change information in mainstream reports as a fiduciary duty;
Source: We Mean Business (2017)
This company appears on the 2020 Bloomberg Gender-Equality Index, signifying a commitment to supporting gender equality through policy development, representation, and transparency.
Source: Bloomberg (2020)
This company is listed by the Workplace Gender Equality Agency (WGEA) as a Employer of Choice for Gender Equality citation holder. The citation is designed to encourage, recognise and promote active commitment to achieving gender equality in Australian workplaces.
Source: WGEA (2019)
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)
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 $7.3 billion tax on a total income of $133 billion, earning the number 3 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)
California, the UK and Australia have all enacted legislation requiring companies operating within their borders to disclose their efforts to eradicate modern slavery from their operations and supply chains. Follow the link to see this company's disclosure statement.
Source: Modern Slavery Registry (2016)
This company received a score of 59.6/100 in the Newsweek Green Rankings 2016, 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 (2016)
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)