Three survivors joined Friends of the Earth to accuse ANZ of misleading consumers by investing in fossil fuel projects
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| One survivor, Jack Egan, claims there is a clear link between ANZ’s support for fossil fuels and the exacerbated bushfires conditions. Photograph: Mick Tsikas/AAP |
The case, lodged under international guidelines agreed by members of
the Organisation for Economic Co-operation and Development (OECD),
demands the bank disclose its greenhouse gas emissions, including “scope
three” emissions resulting from its business lending and investment
portfolio, and set ambitious targets that align with the Paris climate
agreement.
The claim was inspired by a successful complaint against ING bank in the Netherlands by Friends of the Earth, Oxfam and Greenpeace. Mediation following that complaint led to ING committing to measure and publish its indirect emissions, reduce its thermal coal exposure to near zero by 2025 and make its portfolio consistent with the Paris goal of keeping global heating well below 2C above pre-industrial levels.
The complainants in the ANZ claim include Jack Egan, who was approached by Friends of the Earth to join the action after his home near Batemans Bay, on the New South Wales coast, was destroyed on New Year’s Eve.
Egan said there was a clear link between ANZ and other institution’s ongoing support of fossil fuels and the extreme hot and dry conditions that exacerbated the fire that left him homeless. “We are not seeking damages or compensation from ANZ, I just want them to stop fuelling dangerous climate change,” he said.
Friends of the Earth announced the action at a protest outside ANZ headquarters in Melbourne’s Docklands. It lodged the claim with the federal government’s OECD national contact point, a section of the federal treasury responsible for hearing complaints of corporate wrongdoing under the OECD guidelines for multinational enterprises.
The national contact point’s initial role is to attempt to broker a
mediation between the parties. If agreement cannot be reached, it can
make recommendations, but cannot force parties to take action. ANZ
declined to comment on Thursday.The claim was inspired by a successful complaint against ING bank in the Netherlands by Friends of the Earth, Oxfam and Greenpeace. Mediation following that complaint led to ING committing to measure and publish its indirect emissions, reduce its thermal coal exposure to near zero by 2025 and make its portfolio consistent with the Paris goal of keeping global heating well below 2C above pre-industrial levels.
The complainants in the ANZ claim include Jack Egan, who was approached by Friends of the Earth to join the action after his home near Batemans Bay, on the New South Wales coast, was destroyed on New Year’s Eve.
Egan said there was a clear link between ANZ and other institution’s ongoing support of fossil fuels and the extreme hot and dry conditions that exacerbated the fire that left him homeless. “We are not seeking damages or compensation from ANZ, I just want them to stop fuelling dangerous climate change,” he said.
Friends of the Earth announced the action at a protest outside ANZ headquarters in Melbourne’s Docklands. It lodged the claim with the federal government’s OECD national contact point, a section of the federal treasury responsible for hearing complaints of corporate wrongdoing under the OECD guidelines for multinational enterprises.
The environment group alleges ANZ’s breaches of the OECD guidelines include misleading consumers by claiming to support the Paris agreement targets while continuing to invest in projects that undermine the meeting of those targets.
Emila Nazari, a legal officer with Friends of the Earth, said the bank had increased investment in coal 34% over the past two years as it lent $8.8bn to the fossil fuel sector. She said the bank was Australia’s largest financier of fossil fuel industries, and continued to invest billions of dollars in “climate wrecking projects” while bushfires raged across Australia.
“It is illegal for someone to light a bushfire, and we believe it is illegal for companies to finance the burning of our common home. This case is one of many to come against climate criminals,” Nazari said.
The other names attached to the action are Joanna Dodds, a Bega Valley Shire councillor and member of the group Bushfire Survivors for Climate Action, and Patrick Simons, a Friends of the Earth renewable energy campaigner whose family lost their home in NSW.
Links
- Bushfire survivors launch claim against ANZ under international law for financing climate change
- Complaint: Friends of the Earth Australia et al., versus Australia and New Zealand Banking Group
- Bushfire Survivors for Climate Action
- Friends of the Earth Australia
- Banks boosted new lending to fossil fuel projects last year, figures show
- Opinion: Bring On The Royal Commission Into Australia's Climate Change Policy
- (AU) Fire Inquiry Must Look At Climate Change
- (AU) Could A Lawsuit Tip The Scales On Climate Policy?
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