Westpac’s commitment to action on climate change

Westpac recognises that climate change is one of the most significant issues that will impact the long-term prosperity of the global economy and our way of life.

 

We are committed to managing our business in alignment with the Paris Agreement and the need to transition to a net zero emissions economy by 2050.  This includes how the bank provides financial services, supports communities, operates facilities, engages on matters of policy, and contributes to industry initiatives.  The principles on which our work is based are set out in our Climate Change Position Statement and Action Plan.

 

We acknowledges that our own commitments to operate our business in line with the goals of the Paris Agreement mean that the bank must clearly set out expectations for our customers, recognising that Westpac’s financing activity must align with activities that support efforts to keep a global temperature rise this century to well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 degrees Celsius. 

 

Westpac continues to make progress against its targets for lending to and facilitating investment in climate change solutions, including green bond issuance and arrangement. Details are reported in our Sustainability Performance Report. 

About Westpac Green Bonds

The net proceeds of Westpac Green Bonds are used to finance or refinance eligible projects and assets which meet the requirements of the Climate Bond Initiative Standard (which are aligned with the Green Bond Principles). The Climate Bond Standard serves to determine eligibility of specific projects and assets that can be regarded as contributing to the rapid transition to a low carbon and climate resilient economy in line with the goals of the Paris Climate Agreement.  Funds raised to date by Westpac through Green Bonds have been used to finance and refinance projects and assets in three categories – renewable energy (solar and wind), low carbon buildings and low carbon transport (rail).  

 

Westpac Green Bonds may rank as senior or subordinated, unsecured obligations of Westpac Banking Corporation and may be issued off of a number of existing funding programs, including the Australian Domestic Debt Program, EMTN Senior and Subordinated Program and SEC Senior Program.

Westpac Green Bond Framework

Westpac Green Bond Framework (PDF 3MB)

Green Bonds¹ – current outstanding issuances

^{1 Westpac’s Green Bonds were previously referred to as “Climate Bonds”.}

Green Bond investor presentation

Westpac Green Bond Presentation May 2021 (PDF 2MB)

Green Bond investor reports

2024

Westpac Green Bond Impact Report 2024 (PDF 1MB)

2023

Westpac Green Bond Impact Report 2023 (PDF 1MB)

Independent Reasonable Assurance Report 2023 (PDF 8MB)

2022

Westpac Green Bond Impact Report 2022 (PDF 1MB)

Independent Reasonable Assurance Report 2022 (PDF 294KB)

2021

Westpac Green Bond Impact Report 2021 (PDF 2MB)

Independent Reasonable Assurance Report 2021 (PDF 206KB)

2020

Westpac Green Bond Impact Report 2020 (PDF 579KB)

Independent Reasonable Assurance Report September 2020 (PDF 192KB)

2019

Westpac Climate Bond Impact Report 2019 (PDF 1MB)

Independent Reasonable Assurance Report September 2019 (PDF 166KB)

Independent Limited Assurance Report March 2019 (PDF 238KB)

2018

Westpac Climate Bond Impact Report May 2018 (PDF 1MB)

Independent Reasonable Assurance Report September 2018 (PDF 254KB)

Independent Limited Assurance Report March 2018 (PDF 253KB)

2017

Westpac Climate Bond Impact Report May 2017 (PDF 954KB)

Independent Reasonable Assurance Report September 2017 (PDF 220KB)

Independent Reasonable Assurance Report  June 2017 (PDF 1MB)

2016

Independent Reasonable Assurance Report November 2016 (PDF 439KB)

 

Westpac New Zealand Green Bonds

Westpac New Zealand Limited issues Green Bonds through its issuing entity, Westpac Securities NZ Limited (WSNZL), London Branch. Find out more about WSNZL Green Bonds.

Retail Investors

BT has a range of sustainable investment options suitable for retail investors looking to invest less than $100,000. Find out more at BTSustain@BTFinancialGroup.com.

Contact us

Trang Trinh

Director, Group Treasury
Phone: (61 2) 8253 2413
Email: trangtrinh@westpac.com.au

Jacqueline Boddy

Head of Debt Investor Relations
Phone: (61 2) 8253 3133
Email: jboddy@westpac.com.au