Tag Archives: GFC

Mind the Governance Gap: Banks Gilding the Sustainability Lily

July 27, 2015UncategorizedAustralia, banking, banks, catalyst, Catalyst Australia, Corporate Governance, corporate social responsibility, GFC, governance, regulation, Reporting, self-regulation, supervision, Sustainabilitymartijn

The GFC has shown that unsustainable banking activities can bring the economic system to the brink of collapse. A new report by Catalyst Australia examines to what degree banks can also cause or alternatively mitigate social and environmental harm, and what are the resulting responsibilities towards the community and the environment?

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The Sustainability Record of Australia’s Big Banks

July 17, 2015UncategorizedAustralia, Australia and New Zealand Bank, banking, banks, Catalyst Australia, civil society, Commonwealth Bank of Australia, companies, Corporate Governance, corporate social responsibility, environment, GFC, global financial crisis, governance, National Australia Bank, regulation, Reporting, self-regulation, social, stakeholders, supervision, Sustainability, sustainable finance, The Conversation, TheConversation, Westpacmartijn

Australian companies will soon be publishing financial results, as well as information about sustainability efforts. Corporate social responsibility of the big four banks – Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and Westpac is a continuing topic of debate following recent scandals and reports of unsustainable activities. Yet according to ANZ chairman, David Gonski, Australians ought to “stop bashing the banks” for being large and profitable. This comment should put civil society on guard.

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