BankTrack

BankTrack
Name	BankTrack
Type	Non-governmental organization
Founded	2007
Headquarters	Netherlands
Area served	International
Focus	Advocacy, accountability, finance

BankTrack

BankTrack is an international non-governmental organization focusing on tracking and influencing the activities of financial institutions, particularly commercial banks and development banks. It monitors project finance, engages in advocacy toward World Bank Group, European Investment Bank, International Monetary Fund, and major commercial banks, and coordinates campaigns with environmental, human rights, and indigenous rights organizations. BankTrack collaborates with coalitions that include Friends of the Earth International, Greenpeace International, Amnesty International, Oxfam International, and regional networks such as Asia Pacific Forum on Women, Law and Development and Environmental Justice Foundation.

Overview

BankTrack acts as a watchdog that documents lending practices of banks such as HSBC, Barclays, Deutsche Bank, BNP Paribas, and Citigroup; follows policies of institutions like the European Bank for Reconstruction and Development, African Development Bank, and Asian Development Bank; and exposes links between financiers and projects tied to extractive industries, infrastructure, and agribusiness. It produces briefings for legislators in bodies like the European Parliament and the United States Congress, files complaints with accountability mechanisms such as the World Bank Inspection Panel and the European Ombudsman, and supports litigation pursued in forums including the International Criminal Court and domestic courts. BankTrack maintains research databases used by campaigners from Rainforest Action Network, Bank Information Center, Global Witness, and Forest Peoples Programme.

History

BankTrack was established in the mid-2000s against the backdrop of campaigns that targeted banks for financing controversial projects, including protests against developments such as the Dakota Access Pipeline, Ilisu Dam, and operations by corporations like Freeport-McMoRan, Rio Tinto, and Vale. Early influences included precedent-setting advocacy by groups such as Friends of the Earth International, Rainforest Foundation Norway, and Bank Information Center, as well as the forensic research traditions of Global Witness and EarthRights International. BankTrack grew through alliances with regional organizations like Asia Indigenous Peoples Pact, Observatório do Clima, and Seattle to Brussels Network, and expanded its remit following global events including the 2008 financial crisis and the adoption of frameworks like the Equator Principles and United Nations Guiding Principles on Business and Human Rights.

Campaigns and Activities

BankTrack organizes targeted campaigns addressing fossil fuel finance, coal plant financing, and deforestation-linked lending, coordinating with actors such as 350.org, Extinction Rebellion, 350.org, Sierra Club, and Environmental Defense Fund. It publishes dossiers on projects financed by banks for companies like ExxonMobil, Shell plc, BP, TotalEnergies, and Chevron Corporation, and campaigns for policy changes at institutions including the European Central Bank and the Bank for International Settlements. Activities include public reporting, shareholder engagement during annual general meeting seasons at firms like Royal Dutch Shell plc, strategic litigation support for plaintiffs represented by ClientEarth and EarthRights International, and advocacy at intergovernmental processes such as UNFCCC COP meetings and Convention on Biological Diversity negotiations. BankTrack also promotes standards like the Equator Principles reform, works on bank-sponsored biodiversity finance mechanisms linked to the Global Environment Facility, and participates in coalitions confronting banks over involvement in projects like the Trans Mountain Pipeline and Lusatian lignite mines.

Structure and Governance

The organization operates with a coordinating secretariat based in the Netherlands and a network model involving NGOs from regions including Latin America, Africa, Asia, and Europe. Its governance features a steering group composed of representatives from partner organizations such as Friends of the Earth Netherlands, Milieudefensie, Urgewald, ActionAid International, and SOMO. BankTrack engages technical advisers from institutions like Chatham House and Stockholm Environment Institute for research methodology, and liaises with legal experts from firms and advocacy groups including Earthjustice and Public Interest Law Clinic teams. Decision-making processes use consensus approaches common to networks like Transnational Institute and Global Witness-style coalitions.

Funding and Partnerships

Funding sources include philanthropic foundations and grantmakers such as Open Society Foundations, Ford Foundation, Oak Foundation, European Climate Foundation, and regional funders like ClimateWorks Foundation. BankTrack partners with academic entities including University of Oxford, London School of Economics, Yale University research centers, and think tanks like Institute of Development Studies and Center for International Environmental Law for joint research. It also collaborates with advocacy networks including Bank Information Center, Global Witness, Rainforest Action Network, Amnesty International, and regional groups such as Forest Peoples Programme and Latin American Network on Debt, Development and Rights on campaign strategy and capacity building.

Impact and Criticism

BankTrack has contributed to policy shifts within banks and multilateral lenders, influencing commitments on coal finance, deforestation, and human rights due diligence endorsed by institutions including ING Group, Rabobank, Santander, and the European Investment Bank. Its research has been cited by investigative outlets like The Guardian, The New York Times, Le Monde, El País, and Reuters, and invoked in regulatory dialogues at the European Commission and national finance ministries. Critics, including some banking associations such as the Institute of International Finance and industry lobby groups like Financial Services Forum, argue that BankTrack's advocacy can oversimplify complex financing arrangements and may pressure banks into divestment strategies that affect stakeholders represented by entities like International Chamber of Commerce. Supporters counter that its interventions have strengthened accountability mechanisms such as the World Bank Inspection Panel and corporate policies aligned with the United Nations Guiding Principles on Business and Human Rights.

Category:Non-governmental organizations