Friends of the Earth Australia and others

COURT OR TRIBUNAL

Australian National Contact Point for the OECD Guidelines

DATE FILED (OR FIRST HEARING DATE)

30/01/2020

LITIGATION TYPE

Corporate Accountability

SUBJECT MATTER

Transparency and disclosure

REVIEW TYPE

N/A

SUMMARY

On 30 January 2020, Friends of the Earth and three individuals submitted a complaint to the Australian National Contact Point for the OECD Guidelines for Multinational Enterprises. The complaint alleged that ANZ not adhered to OECD Guidelines, in three respects: (1) lack of climate-related disclosure and due diligence, (2) Inadequate environmental policies and management, particularly as regards aligning its investments with the goals of the Paris Agreement, and (3) disregard for consumer interests. On 24 November 2020, the NCP published an Initial Assessment finding that the complaint merits further consideration. The NCP also 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”. While some of the issues raised in the complaint were deemed to be outside the scope of the OECD guidelines (particularly divestment), most aspects of the complaint were within scope, specifically disclosure, target setting and scenario analysis.

CASE DOCUMENTS

Friends of the Earth Australia and others against Australia and New Zealand Banking Group Limited