Weak human rights policies and ongoing fossil fuel industry financing relationships are exposing ANZ, CommBank, NAB and Westpac to potential financial, legal and reputational risks. These banks are fuelling harm.
Fossil fuels unavoidably drive human rights violations. Fossil fuel companies are tied to some of the worst human rights abuses committed by corporations around the world. These range from the seizure of land to the pollution of safe water; the destruction of livelihoods, housing and food security; the dispossession of language and culture; increased violence; and the erosion of women’s rights and gender equality. Critically, they also cause and exacerbate climate change. Climate change breaches human rights, such as people’s rights to water, food, health and housing. Marginalised communities such as women and Indigenous Peoples bear the brunt of these rights violations.
The Big Four banks are continuing to fund coal, oil and gas companies. These include some of the world’s worst fossil fuel expanders like Santos and Woodside. Between 2021-2025 alone, ANZ, CBA, NAB and Westpac provided almost AUD 40 billion to the fossil fuel industry.
ANZ is the worst performer out of the Big Four Banks. Alongside ANZ’s weak policies that fail to protect women and communities from fossil fuel-related human rights violations, the bank has been the highest financier of the fossil fuel industry compared to any other Australian bank every year since 2022.
To avoid being complicit in human rights violations, ANZ, CommBank, NAB, and Westpac must strengthen their human rights policies and end all financing to the fossil fuel industry.