ANZ bank carbon emission excuses for branch closures slammed by Senator Matt Canavan
ANZ has been called out for culling more than 50 branches in regional Australia and then celebrating the move by claiming it's saving carbon emissions. Senator Matt Canavan seized on the financial giant's Climate Active report during Thursday's inquiry hearing into banking closures, calling it's galling attempt to 'green-wash' cost-cutting measures as 'outrageous'. The report claimed the bank had reduced its 'base building emissions' with 'property consolidation'. 'It seems pretty clear that you are touting as a benefit of closing branches in small country towns, a reduction in carbon emissions,' the outspoken National Party politician said. 'This is outrageous. That people in a country town would have to suffer because you need to signal your virtue to climate-conscious shareholders.' ANZ NSW and ACT retail general manager Michael Wake told the Senator he could not say whether reducing carbon emissions was a factor in deciding to close branches. 'Not that I'm aware of. That's not to say that we don't, but not that I'm aware of,' he told the public hearing being held in the regional Queensland town of Ingham. Mr Wake said he would come back to the inquiry with more details at a later date but an ANZ spokesman later clarified that carbon emission reductions are not a factor used to decide branch closures. Climate Active is a partnership program between businesses and the federal government to encourage emissions reduction. The ANZ has properties across Australia as well as overseas and it's report did not specify which property consolidation was reducing emissions. ANZ has shut 56 regional branches across Australia over the past two years and on Wednesday shut down four branches in regional Victoria and rural NSW. Mr Wake admitted local communities were not consulted about the decision to close branches. 'Community members, they're not informed until after we've informed our staff,' he said. He added that a 24-week notice period was always given before a bank shut its doors and that older customers were contacted by bank staff and assisted with the switch to online or telephone banking. He noted 81 per cent of the bank's customers had not visited a branch in the past year. Mr Wake insisted that ANZ was a 'long-term supporter of regional communities'. He said the 'wellbeing' of staff was also at the forefront of the bank's mind when it shut branches. 'We work to secure other roles for colleagues who would like to stay with us,' he said.