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ANZ rapped over human rights

Oct 11, 2018 (The Age - ABIX via COMTEX) --

The ANZ Bank loaned tens of millions of dollars to Phnom Penh Sugar in 2011 through a Cambodian subsidiary, ANZ Royal Bank, to help fund a sugar plantation and refinery. The plantation was subsequently linked to workplace deaths, child labour and forced evictions. According to a report by the Australian National Contact Point, which is a division of Treasury, ANZ failed to meet its own human rights standards in its funding of the plantation..

Publication Date: 12 October 2018

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ASX ANZ
PHNOM PENH SUGAR COMPANY LIMITED
ANZ ROYAL BANK CAMBODIA LIMITED
AUSTRALIA.  DEPT OF THE TREASURY.  AUSTRALIAN NATIONAL CONTACT POINT
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

By Richard Baker and Nick McKenzie

Copyright 2018 Roy Morgan Research. All Rights Reserved.

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