NATIONAL AUSTRALIA BANK LIMITED
Collaboration details
Australian Ethical Investment are seeking investors to join a collaborative effort pressuring Commonwealth Bank, NAB, ANZ, and Westpac to address financed deforestation in Australia.
Australia is a global deforestation hotspot, driven largely by pasture expansion for beef cattle. Because of the role large Australian banks play in providing finance to agribusinesses engaging in deforestation, they have a unique point of leverage to influence customers, and responsibility in reducing livestock driven deforestation.
For more information, see ACF’s Corporate Engagement Guide: Addressing Deforestation in Australia: https://shorturl.at/gGxeY
A resolution has been filed for Commonwealth Bank asking them to take further action on deforestation. Details here: https://collaborate.unpri.org/group/41121/stream
Objectives
There are multiple ways investors can be involved in this work ranging from passive to active.
- Use this page as your go-to source of information, updates, and educational content (including briefings from leading NGOs) on financed deforestation and what the banks are doing. Use this information to inform your own company's work, and
- Support shareholder resolutions, such as the Commonwealth Bank resolution linked above, by voting in favour of deforestation-related resolutions.
- Join active meetings with the banks as they eventuate.
Engagement focus
WESTPAC BANKING CORPORATION
COMMONWEALTH BANK OF AUSTRALIA
ANZ BANKING GROUP