Bank's Policy
Animal Farming & Food Production
55%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
NAB believes that good animal welfare means that an animal is generally:
a. healthy, well-nourished, safe, comfortable, able to behave naturally, and not suffering (free from pain, fear, and distress); and
b. cared for in a way that gives due regard to the provision of appropriate living conditions, disease prevention, veterinary attention when needed, and humane care - including humane slaughter, culling and euthanasia.
(…)
1. Owners and users of animals have a duty of care to animals in their care or under their management, and must safeguard and promote their welfare and wellbeing.
(…)
5. NAB expects customers to meet the needs and safeguards for animals set out in the ‘Five Domains’.
6. Good animal welfare practices should include consideration of the following (as applicable):
a. impacts of local resource availability on animal welfare and farm sustainability (land, water, capital, labour, knowledge, and climate and extreme weather events) including when undertaking emergency and drought preparedness planning;
b. husbandry practices including provision of sufficient feed, water and proper housing or shelter systems;
e. genetics and breed selection practices.
Comments on score: The policy mentions the Five Domains, which cover the five core elements of the Five Freedoms
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
NAB believes that good animal welfare means that an animal is generally:
a. healthy, well-nourished, safe, comfortable, able to behave naturally, and not suffering (free from pain, fear, and distress); and
b. cared for in a way that gives due regard to the provision of appropriate living conditions, disease prevention, veterinary attention when needed, and humane care - including humane slaughter, culling and euthanasia.
(…)
1. Owners and users of animals have a duty of care to animals in their care or under their management, and must safeguard and promote their welfare and wellbeing.
(…)
6. Good animal welfare practices should include consideration of the following (as applicable):
a. impacts of local resource availability on animal welfare and farm sustainability (land, water, capital, labour, knowledge, and climate and extreme weather events) including when undertaking emergency and drought preparedness planning;
b. husbandry practices including provision of sufficient feed, water and proper housing or shelter systems;
e. genetics and breed selection practices.
Comments on score: The policy requires "proper housing methods", but does not explicitly prohibit cages.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
6. Good animal welfare practices should include consideration of the following (as applicable):
a. impacts of local resource availability on animal welfare and farm sustainability (land, water, capital, labour, knowledge, and climate and extreme weather events) including when undertaking emergency and drought preparedness planning;
b. husbandry practices including provision of sufficient feed, water and proper housing or shelter systems;
Comments on score: The policy does require clients to care for environmental conditions, but does not detail what the minimum criteria are
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
NAB believes that good animal welfare means that an animal is generally:
a. healthy, well-nourished, safe, comfortable, able to behave naturally, and not suffering (free from pain, fear, and distress);
(…)
2. NAB is committed to promoting the respect and protection of animal wellbeing based on generally accepted, contemporary, scientific understanding of animal welfare, as referenced in the following standards and conventions:
a. Animal Health Codes of the World Organisation for Animal Health (OIE) - covering terrestrial animals and aquatic animals;
b. International Finance Corporation’s Good Practice Note for Animal Welfare in Livestock Operations;
Comments on score: The policy does not address this criterion specifically, but it does recommend following the guidance of the IFC good practice note, which encourages alternatives
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
6. Good animal welfare practices should include consideration of the following (as applicable):
e. genetics and breed selection practices.
Comments on score: The policy does mention considerations for breeding practices, but it does not set minimum requirements. It also encourages following the IFC good practice note
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Good animal welfare practices should include consideration of the following (as applicable): …
c. effects of animal transport (costs, pollution and animal welfare)
Comments on score: The policy does not limit transport to 8h
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
e. activities that involve inhumane killing or capture methods;
(…)
6. Good animal welfare practices should include consideration of the following (as applicable):
d. stock management, slaughter, culling and euthanasia practices; and
(…)
8. Where a customer is engaged in population management of a species classified as a pest, NAB expects that:
a. this be evidence-based and not involve causing negative impacts including death of threatened or endangered species; and
b. the method of population management used is humane.
Comments on score: The bank does not finance inhumane slaughter.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
4. NAB will encourage customers engaged in businesses involving animals to:
a. adopt industry best practice standards, certification and quality assurance programs, where applicable; and
b. act in accordance with best practice animal welfare and societal expectations as they relate to animal welfare to contribute to ongoing sustainability of agribusiness and animal industries.
Comments on score: The policy encourages the adoption of best practices and certification, where applicable, which can be a proxy for independently audited reports
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
6. Good animal welfare practices should include consideration of the following (as applicable):
c. effects of animal transport (costs, pollution and animal welfare); health, disease management and vaccination programs including responsible use of veterinary, medicinal and other drugs and chemicals;
Comments on score: The policy encourages the responsible use of antibiotics, but it does not prohibit their use for non-therapeutic purposes.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
not covered
Comments on score: not covered
Animal Testing
50%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
a. animal testing for cosmetic purposes;
(…)
7. NAB is supportive of innovation in agricultural and animal-related industries that is ethical. NAB is also supportive of research that meets the three R’s concept. Where animals are used for research and testing purposes, we expect customers to comply with the relevant codes (e.g. the Australian code for the care and use of animals for scientific purpose), to follow guidelines set by the relevant Animal Ethics Committee (AEC), and implement the three R’s concept by:
1. replacing the use of animals with alternative techniques, or avoiding use of animals all together;
2. reducing the number of animals used to a minimum, to obtain information from fewer animals or more information from the same number of animals; and
3. refining procedures to avoid pain and suffering, and to improve the welfare of animals
Comments on score: The policy prohibits testing for cosmetics, but does not prohibit all non-medical testing
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
c. use of endangered or threatened species or non-human primates for any testing/research and experimental purposes (apart from studies for conservation purposes);
(…)
7. NAB is supportive of innovation in agricultural and animalrelated industries that is ethical. NAB is also supportive of research that meets the three R’s concept. Where animals are used for research and testing purposes, we expect customers to comply with the relevant codes (e.g. the Australian code for the care and use of animals for scientific purpose), to follow guidelines set by the relevant Animal Ethics Committee (AEC), and implement the three R’s concept by:
1. replacing the use of animals with alternative techniques, or avoiding use of animals all together;
2. reducing the number of animals used to a minimum, to obtain information from fewer animals or more information from the same number of animals; and
3. refining procedures to avoid pain and suffering, and to improve the welfare of animals
Comments on score: The bank sets requirements for medical testing, including the 3Rs.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
6. Good animal welfare practices should include consideration of the following (as applicable):
e. genetics and breed selection practices.
Comments on score: The policy encourages responsible practices regarding genetics and breed selection practices, but it does not set any restrictions.
Pets, Entertainment and Fashion
50%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
h. operating fur farms and the trade and manufacturing of fur products made from endangered species.
Comments on score: The policy prohibits most types of fur operations, but still allows trade in fur products of non-endangered wild animals
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
b. animal trade involving endangered or threatened species unless designated for conservation;
Comments on score: The policy excludes the trade in endangered animals, but does not exclude the trade in non-threatened wild animals.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
NAB believes that good animal welfare means that an animal is generally:
a. healthy, well-nourished, safe, comfortable, able to behave naturally, and not suffering (free from pain, fear, and distress); and
b. cared for in a way that gives due regard to the provision of appropriate living conditions, disease prevention, veterinary attention when needed, and humane care - including humane slaughter, culling and euthanasia.
(…)
1. Owners and users of animals have a duty of care to animals in their care or under their management, and must safeguard and promote their welfare and wellbeing.
(…)
5. NAB expects customers to meet the needs and safeguards for animals set out in the ‘Five Domains’.
6. Good animal welfare practices should include consideration of the following (as applicable):
a. impacts of local resource availability on animal welfare and farm sustainability (land, water, capital, labour, knowledge, and climate and extreme weather events) including when undertaking emergency and drought preparedness planning;
b. husbandry practices including provision of sufficient feed, water and proper housing or shelter systems;
e. genetics and breed selection practices.
Comments on score: covered - The policy requires the five domains to be respected
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
12. NAB will not finance:
d. animal fights for entertainment or gambling;
Comments on score: The policy does prohibit one type of entertainment with animals, but not all
Governance
62%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
10. If relevant legislative and regulatory requirements and standards are not being met by customers, customers will be given the opportunity to remediate issues and demonstrate they can consistently operate in a compliant manner. NAB considers that this approach promotes and delivers better outcomes for animal welfare and the industry over time.
11. NAB reserves the right to cease: (i) business with a customer, or (ii) sponsorship agreements (where appropriate) - where there is evidence of a significant breach of relevant legislative and regulatory requirements and standards or animal welfare guidelines without remediation, provided that:
a. doing so would not contravene NAB’s obligations under relevant legislative or contractual arrangements to: (i) a customer, or (ii) as part of a sponsorship agreement; and
b. consideration has been given to customer fairness and relevant requirements of the Banking Code of Practice and other banking industry best practice.
Comments on score: The policy mentions clauses for situations of non-compliance but does not clearly require companies to extend this to their supply chain
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Supplier sustainability principles:
NAB’s Group supplier Sustainability Principles, which specify the ESG requirements that suppliers (…) must adhere too
Comments on score: The procurement policy does not cover animal welfare
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
10. If relevant legislative and regulatory requirements and standards are not being met by customers, customers will be given the opportunity to remediate issues and demonstrate they can consistently operate in a compliant
manner. NAB considers that this approach promotes and delivers better outcomes for animal welfare and the industry over time.
11. NAB reserves the right to cease: (i) business with a customer, or (ii) sponsorship agreements (where appropriate) - where there is evidence of a significant breach of relevant legislative and regulatory requirements and standards or animal welfare guidelines without remediation, provided that:
a. doing so would not contravene NAB’s obligations under relevant legislative or contractual arrangements to: (i) a customer, or (ii) as part of a sponsorship agreement; and
b. consideration has been given to customer fairness and relevant requirements of the Banking Code of Practice and other banking industry best practice.
Comments on score: The policy indicates that the contracts with clients do have covenants regarding compliance with animal welfare criteria
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare Principles:
We understand that adopting improved animal husbandry and production technology, including infrastructure, can take time and a great deal of capital. Our customers may incur increased financial obligations to undertake this work and NAB is committed to supporting ongoing animal welfare improvements through the sustainable provision of finance for such investments. NAB recognises that investing in higher welfare standards is an investment in sustainable and ethical business.
Comments on score: NAB does have special finance for more sustainable practices, including for agriculture, and to improve animal husbandry
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Environment and sustainability:
$70b Committed to environmental financing by 2025 to help address climate change.
Comments on score: NAB does have special finance for more sustainable practices, including for agriculture, and to improve animal husbandry
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Environmental Products and Services:
Agribusiness team, who tailor finance and banking solutions for our agribusiness customers –including the first stage post-farmgate processing sector. We have an Agribusiness team in every state, in over 100 locations across Australia.
Comments on score: NAB does have special finance for more sustainable practices, including for agriculture, and to improve animal husbandry