At Bank Australia, we’re committed to raising the bar for responsible banking. That’s why we’re proud to publish our new responsible banking policy.
Our customers have told us they want to know where their money is being invested. While we’ve had a long-standing public position on not lending to the fossil fuel industry, this has often prompted the question: “What do you lend to?”
Our new responsible banking policy statement sets out key areas we lend to – like individual customers and community housing – as well as those we don’t lend to – like fossil fuels and live animal export. It also continues to articulate our core approach to responsible lending to personal customers which includes only lending an amount that people can afford to repay.
The new policy describes our purpose and our business principles, explaining how we believe the business of banking should be used to advance positive change that delivers sustainable economic, social, environmental and cultural development for individuals and our community.
Our first responsible banking policy was adopted over a decade ago to guide our approach to responsible investment and lending. Our new policy statement was developed in consultation with customers, staff and organisations across the responsible investment sector, and has been approved by our Board.
We know many Australians want to feel confident that the money in their personal bank account is being used by in ways that align with their personal values, and contributes to a positive future.
We’re proud to be raising the bar for responsible banking in Australia by being transparent about where our customers’ money is being used, and offering a responsible banking choice for all Australians.
Read our new responsible banking policy here.