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ING Bank on the hook for not reporting climate pollution

...[On] 14 November 2017... a climate complaint against ING filed by Greenpeace Netherlands, Oxfam, BankTrack and Milieudefensie for violating OECD guidelines, was accepted by a Dutch representative of the OECD. ...The Dutch bank will be investigated by the Dutch National Contact Point (NCP) for having no plan to report on and reduce the amount of greenhouse gas emissions from its financing.

This is the first time a NCP has accepted a complaint on the basis of a threat to the climate. This could open up a new avenue for holding businesses accountable for their carbon footprint and climate impacts.

...The OECD Guidelines for Multinational Enterprises...considers it important that companies report on how much they contribute directly and indirectly to greenhouse gas emissions and that companies set targets to reduce emissions. ...ING does this for the emissions of its own operations, but not for those of the companies and projects it finances.

...The four organisations... called on ING to demonstrate its commitment to the OECD Guidelines. ...ING can do this by publishing details of the greenhouse gas emissions attributable to its investments, as well as setting ambitious, concrete and measurable targets to reduce them.

...This investigation is part of a growing global wave of legal challenges to businesses failing to act on climate change.

[Also refers to Commonwealth Bank]