Company Directory - National Australia Bank Limited
Company Details - National Australia Bank Limited
National Australia Bank Limited
WebsiteMelbourne, Australia
National Australia Bank (NAB) is one of Australia's largest financial institutions, providing a comprehensive range of banking and financial services including retail, business, and institutional banking. It plays a critical role in the Australian financial landscape, serving millions of customers across the country and internationally.
CCI Score
CCI Score: National Australia Bank Limited
4.34
-0.01%
Latest Event
2024 Modern Slavery and Human Trafficking Statement
NAB released its detailed 2024 Modern Slavery and Human Trafficking Statement outlining comprehensive measures to mitigate modern slavery risks across its internal operations, supply chain, and customer relationships. The document details risk management, due diligence, supplier engagement and training programs that collectively work to uphold human rights standards.
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OBJECTOR
National Australia Bank Limited is currently rated as an Objector.
Latest Events
- NOV042024
NAB released its detailed 2024 Modern Slavery and Human Trafficking Statement outlining comprehensive measures to mitigate modern slavery risks across its internal operations, supply chain, and customer relationships. The document details risk management, due diligence, supplier engagement and training programs that collectively work to uphold human rights standards.
+85
Labor Relations and Human Rights Practices
March 22
The statement demonstrates a robust commitment to Labor Relations and Human Rights Practices. NAB has implemented comprehensive policies, due diligence processes, rigorous training programs, and clear oversight mechanisms to identify and address modern slavery risks within its operations and customer engagements. This proactive approach is commendable from a human rights perspective.
+80
Supply Chain Ethics
March 22
The report includes detailed protocols for Supply Chain Ethics, showcasing NAB’s rigorous supplier due diligence processes, enhanced third‐party risk assessments, and implementation of contractual safeguards against modern slavery. These measures help reduce the potential for human rights abuses within their extensive global supply chain.
- NOV042024
The document details NAB's comprehensive approaches to identify, assess, and mitigate modern slavery and human trafficking risks across its operations, supply chain, and customer engagements. It outlines extensive due diligence processes, supplier sustainability principles, employee training, and engagement in industry initiatives, indicating a proactive stance on labor rights and human trafficking prevention.
+80
Labor Relations and Human Rights Practices
March 22
The statement provides extensive details on safeguarding labor rights, including robust internal due diligence, risk assessment processes, comprehensive training programs, and clear grievance mechanisms. These initiatives underscore NAB's commitment to addressing modern slavery and supporting fair labor practices.
+75
Supply Chain Ethics
March 22
NAB’s report outlines significant enhancements in supply chain due diligence including risk-based supplier assessments, modern slavery clauses in contracts, and improvements in third-party risk management systems. While these measures are robust, some potential gaps remain in fully mitigating exposure across all sectors.
- MAR082023
A finance sector union has taken legal action against NAB alleging excessive and unsafe working hours. This legal challenge raises serious concerns about the bank's labor practices and potential disregard for worker safety and rights, contributing indirectly to corporate behaviors that may enable authoritarian power structures.
-60
Labor Relations and Human Rights Practices
March 22
The legal action brought by a finance sector union against NAB over allegations of unsafe and excessive working hours suggests significant failings in labor rights and human safety standards. Such practices can undermine worker protections and contribute to a corporate culture that devalues labor rights, potentially bolstering authoritarian control by weakening workers’ collective bargaining power.
- MAR072023
National Australia Bank is facing a major legal test case over allegations of excessive unpaid work hours imposed on managers. The Finance Sector Union has initiated Federal Court action on behalf of affected managers, raising serious concerns about deficient labor practices and the exploitation of worker rights at NAB.
-60
Labor Relations and Human Rights Practices
March 22
The allegations against NAB regarding managers being forced to work 55-80 hour weeks without proper compensation highlight significant labor rights issues. This case points to exploitative practices and inadequate respect for fair labor standards, contributing to systemic worker exploitation. Such actions can be interpreted as complicit in broader authoritarian and late-stage capitalist practices, adversely impacting employee well-being and union efforts.
- DEC012022
National Australia Bank Limited has implemented a structured policy for managing political contacts and communications. The policy outlines strict procedures, limiting political interactions to a select group of approved representatives, including top executives and board members. While this centralization can be seen as an effort to maintain internal control and transparency over political engagement, it also serves corporate interests by streamlining how political influence is managed, potentially reinforcing a system that privileges corporate power over broad democratic accountability.
-20
Political Contributions and Lobbying Efforts
March 22
The policy explicitly governs political contact and communication, mandating that only approved representatives engage with political actors. By centralizing and formalizing these interactions, the bank reinforces a controlled approach to lobbying that prioritizes corporate objectives over public accountability. This can be seen as a contributing factor to an environment where corporate influence may shape policies in ways that support authoritarian tendencies.
-15
Executive Political Engagement
March 22
The policy delineates a narrow scope for political engagement by assigning exclusive responsibilities to senior executives and board members. This concentration of political authority can facilitate decision-making that directly benefits corporate interests, potentially at the expense of broader democratic oversight and accountability, thereby indirectly supporting authoritarian practices.
- DEC072021
A survey by the Finance Sector Union reveals that NAB employees are forced into excessive unpaid overtime that has led to severe physical and mental health issues. The report alleges a dehumanizing work culture with punitive measures against those who refuse extended hours, raising concerns over labor rights and ethical business practices.
-80
Labor Relations and Human Rights Practices
March 22
The Guardian report details how NAB's management pressures employees into working excessive unpaid overtime, which has led to significant mental and physical health problems, including depression, hospitalization, and relationship breakdowns. This exploitative labor practice and neglect of employee wellbeing underscores a broader pattern of abusive and dehumanizing management, contributing to systemic exploitation that can bolster authoritarian tendencies by undermining worker rights and social solidarity.
NAB staff claim ‘dehumanising’ overwork causing physical and mental health problems
- JAN012018
NAB outlines its approach to human rights within its sustainability framework. The policy integrates ESG risk assessments into credit evaluations, flagging issues like poor labor practices in the agricultural sector and incorporating a grievance process to address modern slavery concerns. While the policy demonstrates a commitment to ethical business practices, there remains room for improvement in fully addressing systemic non-compliance in labor practices.
+40
Labor Relations and Human Rights Practices
January 1
The article highlights NAB's proactive approach in embedding human rights considerations into its credit risk and ESG assessment framework. By identifying and addressing poor labor practices, particularly in high-risk sectors like agriculture, NAB is taking steps that align with progressive labor relations and human rights standards. However, recognition of systemic labor issues suggests that while the framework is a positive move, further improvements are needed to ensure comprehensive protection of workers’ rights.
- MAY012016
Facing mounting criticism over political donations that could be seen as buying undue influence, NAB halted its political donations in May 2016. This decision was aimed at mitigating conflicts of interest and preserving public trust in the democratic process.
+75
Political Contributions and Lobbying Efforts
March 22
National Australia Bank (NAB) stopped making political donations to all levels of government in May 2016 after concerns emerged about how such funding could be misconstrued as buying political access and influence. This move reflects a commitment to mitigating potential undue influence in politics and reinforces its stance on ethical political behavior under Public and Political Behavior. By distancing itself from practices that may undermine democratic accountability, NAB’s decision is viewed positively from an anti-fascist perspective.
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