NATIONAL AUSTRALIA BANK LIMITED | Disclosure of financed deforestation

Status
Filed
AGM date
Proposal number
2
Resolution details
Company ticker
NAB
Lead filer
Undisclosed filer
Resolution ask
Report on or disclose
ESG theme
  • Environment
ESG sub-theme
  • Land use inc. deforestation
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Financials
Company HQ country
Australia
Resolved clause
Australia has been recognised as a global deforestation front, with official data showing the rate of clearing in Queensland and New South Wales is rising. The deforestation linked to bank lending, known as financed deforestation, poses material risks for our bank. Noting our company has acknowledged ‘deforestation and other forms of land clearing are a key threat to biodiversity’ and ‘nature-related impacts can manifest across a number of material risk categories including Balance sheet & liquidity, Credit, Compliance, Conduct, Market, Operational, Strategic and Sustainability’, shareholders request that NAB assess and publicly disclose, within a reasonable timeframe and omitting proprietary information, the bank’s deforestation exposure through provision of finance to its agriculture sector customers.

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