|Friends of the Earth and Individuals & ANZ Banking Group|
|Description||Specific instance alleging a non-observance of the OECD Guidelines.|
|Theme(s)||General policies, Disclosure, Environment, Consumer interests|
|Date||30 Jan 2020|
|Industry sector||Financial and insurance activities|
On 30 January 2020, Friends of the Earth, an NGO, and three individuals (Egan, Dodds and Simons) submitted a specific instance to the Australian NCP concerning the ANZ Banking Group. The submitters allege that ANZ’s lack of full disclosure about its climate change impacts prevent consumers from making informed decisions whether or not to engage with the bank.
As the parties were unable to reach an agreement, on 15 December 2021, the NCP published its final statement. The NCP concluded that ANZ had acted consistently with the Guidelines. Furthermore, the NCP noted that the case illustrated the ambiguity of the Guidelines’ expectations regarding climate change. The NCP recommended that the statement be brought to the attention of the OECD, its advisory bodies and OECD Watch.
The NCP acknowledged delays in the handling of this specific instance, which were due to the ongoing covid-19 pandemic.