We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Lobbying Overview: The Commonwealth Bank of Australia (CBA) appears to be somewhat positively engaged with climate change policy within its own operations; however, its engagement with the wider policy setting seems to be very limited. The company also lacks transparency in its disclosure regarding its membership and lobbying activities in industry associations.
Top-line Messaging on Climate Policy: CBA appears to be positive in its top-line messaging on climate change policy. In its 2020 annual report, CBA stated that it recognizes that climate change poses a significant risk and backed the Paris Agreement. In a corporate press release in February 2021, the company stated support for the global goal of transitioning to a net-zero economy by 2050.
Engagement with Climate-Related Regulations: In its 2020 CDP disclosure, CBA disclosed that it supported the National Greenhouse and Energy Reporting (NGER) scheme, while also stating support for energy efficiency targets but fails to mention any government-related policy it supports.
Positioning on Energy Transition: CBA appears to be supportive of the energy transition through its primary channels, but does not directly comment on the future role of coal or oil in a future energy mix. In its 2020 environmental and social framework, CBA states support towards decarbonizing the economy. In a press release in February 2021, the company backed the NSW Government’s Electricity Infrastructure Roadmap for its impact on the decarbonization of the electricity industry. However, in CBA’s 2020 annual report it states support for natural gas as a transition fuel but does not comment further on the pace it would like to see natural gas discontinued, nor does CBA comment on the role of oil or coal in a future energy-mix beyond its own operations.
Industry Association Governance: As of August 2021, InfluenceMap could not find any public disclosure of memberships to industry associations from CBA, nor how it attempts to indirectly influence climate policy or which climate policies it lobbies on. Through its 2020 CDP climate change response, CBA discloses memberships to some industry associations that it feels are likely to take a position on climate change legislation. However, this response excluded their membership to Business Council of Australia that traditionally lobbies negatively on climate change policy. Nevertheless, CBA is a member of both the Carbon Market Institute and the Clean Energy Council which are both broadly supportive of action on climate change.