30 January 2020

...Australian Bushfire victims and Friends of the Earth Australia filed an OECD Guidelines complaint with the Australian NCP against ANZ related to the bank's financing of fossil fuel projects that contribute to the climate crisis. The complaint alleges that ANZ, Australia’s largest financier of fossil fuel industries, has failed to meaningfully adhere to the Paris Agreement reduction targets across its lending portfolio. The complaint also alleges the bank’s failure to disclose the full extent of it is lending emissions is a breach of the Guideline.

This case is worth following for a number of reasons, not least because it seeks accountability for the harm caused by the massive forest fires that have devastated Australia recently and which have been exacerbated by climate change.

[...]