Area served Worldwide | ||
Founded November 2003, Bakkum, Netherlands Focus Private banks, environment, climate change, human rights Location Vismarkt 15, Nijmegen, Netherlands Method Direct action, lobbying, research Members Network consists out of 38 member organizations | ||
BankTrack is a global network of non-governmental organizations cooperating in the field of private banks and sustainability. BankTrack uses direct action, lobbying, and research to achieve its goals. BankTrack focuses primarily on the work of private banks and their involvement in projects that are a risk to the environment, society or human rights.
The network consists of 40 organizations, including Greenpeace International, Rainforest Action Network and various national Friends of the Earth groups. The network was established in 2003, building upon initiatives that led to the release of the Collevecchio declaration. The Declaration was the first civil society statement on the role of financial sector and sustainability, and was signed by over 100 civil society organizations.
BankTrack releases research reports focused on sustainability in the banking sector, used by many organizations, banks and analysts. Recent reports include Mind the Gap and Close the Gap, which benchmarked the sustainability policies of over 40 global banks, and Bankrolling Climate Change, which investigated finance for the coal industry, and ranked the top 20 "Climate Killer Banks".
Equator Principles
BankTrack has closely monitored the evolution of the Equator Principles, a voluntary set of standards for determining, assessing, and managing social and environmental risk in project finance, since their inception. BankTrack has been highly critical of the Principles for allowing projects such as the Belo Monte Dam to proceed with an "Equator Principles seal of approval", the absence of accountability mechanisms, and the lack of ambitious climate change commitments.