National Australia Bank

The financial institution publishes an engagement report on sustainability impact topics and has a public policy committing to respect ILO core labour rights, which applies to its suppliers too. It objectively identifies and prioritizes its material sustainability impacts. The institution has a sustainability strategy to address these impacts, with third-party assurance for target reporting.

The institution has a stewardship policy backing environmental transitions and human rights. It discloses its trade associations and aligns its lobbying with the sustainability strategy. It reports on its financial involvement in high-emitting and fossil fuel sectors, pinpoints key sectors for climate engagement, and assesses nature-related impacts. It forms partnerships to influence sectors regarding these impacts and provides examples of products that support climate adaptation.

The institution monitors its scope 1-2 emissions and related financing activities (Scope 3 category 15). It also discloses about financial provisions for usually excluded groups and operational data by country.

The financial institution could disclose how it sets a living wage in its operating area and incorporate anti-bribery and anti-corruption clauses in its contracts with business relationships. It could stop providing products, services, or capital to new fossil fuel projects and clients without 1.5°C-aligned transition plans, especially for new or renewed corporate lending in certain sectors. Despite meeting its 2022 environmental financing goal, it ought to set a new measurable climate solutions target.

Furthermore, the institution has the chance to disclose a nature protection and restoration strategy, especially for priority sectors, and details on its funding for nature-based solutions in Australia. It could also disclose financial support for nature-positive solutions and client income group breakdowns, while preventing divestment from low-income countries due to sustainability efforts. The risk assessment should cover all ILO fundamental work rights. Moreover, the institution could provide examples of actions taken on human rights issues related to its products and services in the past three years.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.