Justice and Change in a Global World
Assignment 2
The premium commercial organizations of Australia have long been working together towards sustainable development and realizing the aspirations of the common good in the professional community where they operate. In this context, the National Australia Bank is pioneering in the CSR activities addressing several social and environmental issues that sustain development locally as well as globally.
Among many concerns addressed by the National Australia Bank, two of them are worthy to be mentioned. Socially the bank contributes a huge share of profit in the health issues of the Torres Strait Islanders and Aboriginals while on the other hand, the bank donates fund to the maintenance of the Great Barrier Reef where the marine life is under the threat of water pollution.
About the deteriorating health issues of the Torres Strait Islanders, the National Australia Bank has made an entry into the partnerships with these Islander and Aboriginal communities. Apart from their business, the bank spread its helping hands to these communities with professionalism and is very responsive to the challenges they face in their activities of corporate social responsibilities. The Torres Strait Islanders and the Aboriginal communities suffer from varied health issues such as births, infant deaths, common diseases and health risks arising out of them and the lack of awareness about the protective factors. It is not possible for a bank to act as an NGO or some medical charitable trust and help these community people directly. Rather the bank funds those organizations that operate in the welfare of these communities. Alongside this, the bank has opened several branches in this region so that the community people can avail the basic banking features such as low-rate loans or opening bank accounts with minimum balance. In addition, as a part of its direct CSR activities, the bank promotes health awareness and educational programs for the aboriginal and islander people. Although there has been a general public disregard for banks as they are viewed as purely profit-oriented commercialized institutions, the banks of Australia especially the National Australia Bank has made an exception with its consistent realization of social welfare programs.
One of world’s greatest heritage site the Great Barrier Reef is known for having biodiversity of marine life. However, this is under constant threat due to climate change, worsening seawater quality and thus increasing the life risks of marine animals. The protection and sustainability of the Great Barrier Reef has been the major concern for the Australian and Queensland government and for this, the eminent commercial bodies of the country need to come forward to save the UNESCO World Heritage Site. In this context, the National Australia Bank commits considerable contribution to the Reef Trust, which focuses on improving the water quality and coastal habitat. This is indeed a praiseworthy move on the bank’s part and apart from focusing on the usual commercial activities of banks; the Australian banks are noticeably contributing to the social and environmental causes. However, the problem of Great Barrier Reef is much more than what have been stated earlier. The global icon suffers from soil erosion and increasing fishing practices and controlling those directly does not lie in the hands of the bank. Although the National Australia Bank actively participates in the Streambank Joint Program with other governmental bodies. With the objective of sustainable development in local and global context, the bank has adopted adequate measures in solving the issues. To discuss particularly the Great Barrier Reef issue, the bank however, can do more rather than just financially contributing in the Reef projects. It can arrange events or sponsor such awareness programs that raise a mass responsiveness on favor of protecting the global heritage site.
The discussion about the challenges in social and environmental contexts that the National Australia Bank address among many others, it can be said that the bank’s exceptional association with the welfare activities has primarily changed the common disapproving perception of pure commercial institutions. Indeed, every institution irrespective of its field of work is liable to contribute towards society, community and environment. The National Australia Bank is definitely pioneering the way in which a professional institution can enhance its activities regarding corporate responsibility.
References:
Boersma, M. (2017). Australia's banking four pillars wobbly on sustainability record. [online] The Conversation. Available at: http://theconversation.com/australias-banking-four-pillars-wobbly-on-sustainability-record-44521 [Accessed 18 Apr. 2017].
deloitte.com. (2017). Who says banks can’t be social? Become a social bank, inside and out. [online] Available at: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/Financial-Services/gx-fsi-ca-who-said-bank-cant-be-social-2013-10.pdf [Accessed 18 Apr. 2017].
environment.gov.au. (2017). Managing and protecting the Great Barrier Reef | Department of the Environment and Energy. [online] Available at: http://www.environment.gov.au/marine/gbr/protecting-the-reef [Accessed 18 Apr. 2017].
healthinfonet.ecu.edu.au. (2017). Summary of Aboriginal and Torres Strait Islander health « Health facts « Australian Indigenous HealthInfoNet. [online] Available at: http://www.healthinfonet.ecu.edu.au/health-facts/summary [Accessed 18 Apr. 2017].
nationalaustraliabank.com. (2017). Social Responsibility and Banking - Responding to the New Realities. [online] Available at: https://www.nationalaustraliabank.com/content/dam/nabindia/in_corporate_social_responsibility_policy.pdf [Accessed 18 Apr. 2017].
westpac.com.au. (2017). CORPORATE SOCIAL RESPONSIBILITY POLICY. [online] Available at: https://www.westpac.com.au/docs/pdf/aw/ic/ABIESpeech24050.pdf [Accessed 18 Apr. 2017].