ANZ needs to step up its risk assessment: Oxfam
ANZ’s financing of ruling party senator Ly Yong Phat’s controversial sugar plantation has come under fire once again, this time in an investigation by NGO Oxfam into Australia’s big four banks and their links to rights abuses in developing countries. In a report titled “Banking on shaky ground”, Oxfam questions the due-diligence processes of the Commonwealth Bank of Australia, the National Australia Bank, Westpac and ANZ, citing examples of each bank financing companies linked to land grabs. “From [Papua New Guinea] and Cambodia, to Indonesia and Brazil, our banks have backed companies accused of forcing people from their land,” Oxfam Australia chief executive Helen Szoke said in a statement. …
Daniel de Carteret
http://www.phnompenhpost.com/business/anz-needs-step-its-risk-assessment-oxfam
