Date filed
30 January 2020
Keywords
Countries of harm
Current status
Under review
Sector
NCP

Allegations

On 30 January 2020, Australian bushfire victims and Friends of the Earth Australia filed a specific instance against Australia New Zealand Bank (ANZ) at the Australian NCP. The complaint alleges that ANZ, Australia’s largest financier of fossil fuel industries, has failed to meaningfully adhere to the Paris Agreement reduction targets across its lending portfolio, in breach of the Environmental and Consumer Protection chapters of the Guidelines. The complaint also alleges that the bank’s failure to disclose the full extent of its lending emissions represents a breach of the Disclosure chapter of the OECD Guidelines. This is the first OECD Guidelines complaint to be handled by the the Australian NCP’s new Independent Examiner, following the NCP’s 2019 organisational restructuring. It is the second complaint concerning a bank‘s climate impacts, following a 2017-2019 complaint brought to the Dutch NCP concerning ING’s climate targets and indirect greenhouse gas emissions.

Relevant OECD Guidelines

Outcome

In November 2020 the Australian NCP accepted the complaint for further consideration.

More details

Documents