ASB Bank Limited (ASB) is owned by Commonwealth Bank of Australia. It provides a range of financial services including retail, business and rural banking, funds management, as well as insurance through its Sovereign Limited subsidiary, and investment and securities services through its ASB Group Investments and ASB Securities divisions.
Woke Rating
We rate ASB as extremely woke, especially on LGBTQI+ issues, DEI, and tokenism.
Woke Summary
- Virtue Signalling – virtue signalling found.
- Gender Ideology & LGBTQ – ASB is Rainbow Tick Certified, and heavily involved in many LGBTQI+ events and initiatives.
- Diversity Equity Inclusion (DEI) – has DEI policies. Applies gender recruitment targets. Committed to 40:40:20 gender split.
- Climate Change – Supports the Paris Agreement and has emissions reduction targets. Committed to UN’s Sustainable Development Goals (SDGs). Member of Net Zero Banking Alliance.
Woke Policies
Wokeness and virtue signalling distracts a company from its core business, which is to make a profit for shareholders while delivering excellent, affordable products and services to its customers. Businesses should not be distracted from this core purpose, otherwise there will be unnecessary costs which are ultimately passed onto consumers. Woke ideologies are typically unfriendly towards the traditional family unit.
Below are some woke policies and initiatives from ASB…
Virtue Signalling
Lots of tokenism and virtue signalling in ASB Environmental and Social Framework …
ASB “This Is Us” campaign with lots of tokenism and virtue signalling …
Gender Ideology & LGBTQ+
ASB is Rainbow Tick Certified, and heavily involved in LGBTQI+ events and initiatives including Pride Festival, Big Gay Out, Pride in the Park, RainbowYouth, Pride & Sport, plus many others. ASB is also a supporter of Pride Pledge (which is a rainbow advocacy group partnering with organisations to push LGBTTQIAP+ inclusion).
ASB has a Rainbow version of its logo and has even created Rainbow EFTPOS Cards.
ASB makes this highly controversial post on the same day as Posie Parker’s Speak Up For Women event was violently disrupted by a mob of trans activists, thugs and far-left protestors. Despite criticism, ASB refused to backdown and remove the post…
ASB sponsored a special screening of LGBTQI+ film Rurangi, with all proceeds donated to RainbowYOUTH.
ASB is a major supporter/sponsor and participant in the annual Rainbow Excellence Awards.
ASB is a multiple winner at the Rainbow Excellence Awards, including the Representation in Marketing award. This award recognised a raft of LGBTQI+ activity including advertising campaigns featuring same sex couples, partnerships with Rainbow YOUTH and work with other banks to “Celebrate Together at Pride” events.
Diversity, Equity and Inclusion (DEI)
ASB has has DEI policies and applies gender recruitment targets. ASB reports environmental, social and governance (ESG) progress and activities.
Committed to 40:40:20 gender split
“ASB has continued to make progress towards a goal of gender balanced leadership. We are working towards a target of 40:40:20 (a minimum of 40% women, 40% men and the remaining 20% made up of people of any gender).”
Source: ASB 2021 Corporate Responsibility Report
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Lots of wokeness and tokenism in ASB’s People & Culture policies and strategies:
Source: ASB Environmental and Social Framework
Climate Change
ASB is a member of the UN’s Net Zero Banking Alliance, via its Australian parent company. This means agreeing to reduce the emissions reductions of the whole business – including the climate impact of the companies banks lend to. The banks in this alliance are beginning to set 2030 emissions-reduction targets for its customers – especially its farmer customers. This could lead inevitably to the banks refusing lending to farms and other business which the bank deems to have not met their emissions reductions targets. Its heading down a dangerous path with this.
ASB supports the Paris Agreement, and has emissions reduction targets. Committed to UN’s Sustainable Development Goals (SDGs). ASB reports environmental, social and governance (ESG) progress and activities.
“We are committed to playing our part in limiting climate change in line with the goals of the Paris Agreement and supporting the global transition to net zero emissions by 2050.”
Source: ASB Environmental and Social Framework
ASB has identified its top emitting customers across Corporate, Commercial and Rural sectors. This is informing ASB’s future “customer engagement approach”. ASB has also launched sustainable finance products including sustainability-focused lending for corporate clients to embed sustainability targets.
Source: ASB FY23 Climate Report
Positive Policies & Activities
Parental Leave – “Our benefits are designed to enable you to adjust smoothly the changes in your home-life. Our parental leave plan includes a top up of government pay to full for 6 months, continued Kiwisaver contributions, partner leave and flexible return to work arrangements.”
ASB Good as Gold awards on TV1 – ASB Good As Gold is a segment on TV1’s Seven Sharp to celebrate amazing Kiwis. It’s an ASB initiative recognising, rewarding and helping wonderful people in our community.
Sponsorship – ASB is the corporate sponsor for a number of high-profile New Zealand charities, organisations and events such as:
- Coastguard New Zealand
- St John New Zealand
- Starship Foundation
- KidsCan
- New Zealand Football – including the ASB Premiership, ASB Chatham Cup
- Tennis – including the ASB Classic, Auckland Tennis, Canterbury Tennis
- ASB Gardens Magic – a series of summer concerts held in Wellington
- ASB Classical Sparks – an annual concert in Christchurch’s Hagley Park
- ASB Polyfest – a four-day event celebrating the culture of the Pacific
The bank is also a major sponsor of several event venues in New Zealand including ASB Showgrounds, ASB Stadium, ASB Tennis Centre.
Source: ASB Community Partnerships
Note – This page was updated as of 20th May 2024. Please contact us if you’ve discovered other relevant information about ASB or other businesses pushing woke agendas. You should also contact us if you discover some positively woke-free businesses.