NAB releases first corporate social responsibility report
(10 December 2004 – Australia) As part of its image makeover, National Australia Bank has released its first Corporate Social Responsibility report.
The bank describes the document as a stand-alone, externally audited report of the bank’s performance against non financial indicators, including environmental and social impact indicators such as customer, community and employee relations.
NAB chief executive John Stewart admitted the report was an attempt to rebuild trust with the bank’s stakeholders by demonstrating greater transparency and accountability.
"There is no doubt that the issues we have faced this year brought us to a strategic inflection point. While it has been a challenging year, it has also brought significant opportunity for change," he said.
Stewart said the corporate social responsibility report was a step forward and was in line with the bank’s Corporate Principles which it launched in August 2004, committing itself to be more "collaborative, treat everyone with fairness and respect, and execute better our promises."
"The CSR report is a tangible demonstration that we will continue to strengthen our business practices and address issues that are important to our stakeholders," Stewart said.
NAB’s CSR report will be distributed to shareholders from 15 December and will be available on the bank’s website.
NAB chief executive John Stewart admitted the report was an attempt to rebuild trust with the bank’s stakeholders by demonstrating greater transparency and accountability.
"There is no doubt that the issues we have faced this year brought us to a strategic inflection point. While it has been a challenging year, it has also brought significant opportunity for change," he said.
Stewart said the corporate social responsibility report was a step forward and was in line with the bank’s Corporate Principles which it launched in August 2004, committing itself to be more "collaborative, treat everyone with fairness and respect, and execute better our promises."
"The CSR report is a tangible demonstration that we will continue to strengthen our business practices and address issues that are important to our stakeholders," Stewart said.
NAB’s CSR report will be distributed to shareholders from 15 December and will be available on the bank’s website.
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