complaint

Specific Instance filed to the Australian National Contact Point under the OECD Guidelines for Multinational Enterprises by FoE Australia and Others v ANZ Bank Group Limited - complaint

reply

Specific Instance filed to the Australian National Contact Point under the OECD Guidelines for Multinational Enterprises by FoE Australia and Others v ANZ Bank Group Limited - reply

Filing Year For Action

On January 30, 2020, Friends of the Earth and three individuals submitted a "specific instance" complaint to the Australian National Contact Point for the OECD Guidelines for Multinational Enterprises regarding the activities of ANZ bank. The complaint alleged that ANZ had failed to adhere to the OECD Guidelines on three ground: (i) lack of climate-related disclosure and due diligence, (ii) inadequate environmental policies and management, particularly as regards aligning its investments with the goals of the Paris Agreement, and (iii) disregard for consumer interests. The complaint contained specific requests for ANZ regarding divestment from coal and other fossil fuels.

On November 24, 2020 the NCP published an Initial Assessment admitting the complaint. The NCP confirmed that "Issues of climate change, fossil fuels (and associated GHG) are sufficiently material to responsible business conduct understood by the OECD Guidelines. The information in the Complaint is plausible and relevant to the application of the OECD Guidelines." However, the assessment excluded requests for divestment from fossil fuels arguing that this was not required by the Guidelines.

The NCP issued final statement in 2021. 

Specific Instance filed to the Australian National Contact Point under the OECD Guidelines for Multinational Enterprises by FoE Australia and Others v ANZ Bank Group Limited

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

Terrestrial means "of the earth" and relates to the risks to ecological system that includes all living organisms and their interactions within land-based environments, such as forests, grasslands, and deserts.

Social and cultural groups that share collective ancestral ties to the lands and natural resources where they live, occupy or from which they have been displaced

Tradable permits are market-based tools that grant permission for specific activities, frequently used to regulate emissions. These permits can be issued within a trading system to manage environmental impacts.

People with different national or cultural traditions from the dominant population

Activities involving the catching, processing, and selling of fish for food, recreation, and industry.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

The activities of industries that transforms raw materials into finished goods through industrial processes.

The activities of industries involved in the production, distribution, and sale of energy, including electricity, gas, and renewables.

A commitment to balance GHG emissions with removal by a certain point in time, effectively reducing the net emissions to zero

This sector creates and distributes information and entertainment through television, radio, print, and digital platforms.

Activities of industries that extract natural resources, such as mining, oil, and gas, for commercial use.

Oil is a combustible liquid fossil fuel composed mainly of hydrocarbons, occurring as crude oil and refined into petroleum products such as petrol, diesel and kerosene.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

Slow onset events evolve gradually from incremental changes over many years or from increased frequency or intensity of recurring events. As defined in the Cancun Adaptation Framework (2010), slow onset events include risks and impacts from rising temperatures, desertification, biodiversity loss, land and forest degradation, glacial retreat, ocean acidification, sea level rise, and salinization.

A target to reduce the prevalence of a greenhouse gas over a specific time frame

Activities that involve the cultivation of crops and raising of livestock for food, fibre, and other products essential for human life and industry.

Coal is a combustible sedimentary rock formed from carbonised plant matter, rich in carbon and hydrocarbons, and occurring in several main types including hard coal and brown coal.

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Conditions that enhance the feasibility of adaptation options. Enabling conditions include finance, technological innovation, strengthening policy instruments, institutional capacity, multi-level governance and changes in human behaviour and lifestyles.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

Codes and standards are regulatory instruments that specify minimum standards to protect health and safety. This ranges from performance standards, which prescribe outcomes while allowing flexibility to achieve compliance, to the more prescriptive approach of technology-specific standards.

The processes through which enterprises can identify, prevent, mitigate and account for how they address their actual and potential adverse impacts. Due diligence is the idea that reasonable precautions should be taken to avoid causing harm to people, the environment, or society. It also involves identifying and mitigating risks before they occur.

This sector involves activities to move goods and people, alongside the storage of products.

Fossil gas, commonly known as natural gas, is a fossil fuel consisting chiefly of methane with smaller amounts of other hydrocarbons and trace gases, found in underground deposits.

Specific Instance filed to the Australian National Contact Point under the OECD Guidelines for Multinational Enterprises by FoE Australia and Others v ANZ Bank Group Limited - complaint

Target

Policy instrument

Risk

Impacted group

Renewable energy

Fossil fuel

Greenhouse gas

Economic sector

Adaptation/resilience

Finance