Westpac sustainability performance continues strong track record

9 November 2016

Westpac Group today released its 2016 Sustainability Performance Report as part of its broader annual reporting suite.
 

The Report provides insights into Westpac Group’s sustainability performance across a series of social, environmental and economic performance indicators over the 2016 financial year and an analysis of the Group’s response to issues that are most important.
 

Brian Hartzer, Westpac Group CEO said he is proud of the progress made and the major milestones achieved by the Bank.
 

"For almost 200 years, Westpac has constantly adapted to support customers and economic development.
 

“It’s clear from this Report that operating sustainably is deeply embedded in our business and our culture, and I’m proud to see the progress we have made in tackling challenges and creating lasting positive impact.
 

“Our strong track record in embracing sustainable business practices has also contributed to Westpac being named the most sustainable bank globally in the Dow Jones Sustainability Indices Review this year - the ninth time we've been named the sector leader in this annual review since 2002,” he said.
 

2016 Sustainability Strategy performance highlights

This year marks the fourth year of Westpac Group’s five-year Sustainability Strategy. The Group's 2016 Sustainability Performance Report details performance highlights against the three priority areas, including the following: 
 

Embracing societal change

  • Leadership roles held by women increased from 46% in 2015 to 48% in 2016
  • Percentage of employees working flexibly increased from 63% in 2014 to 74% in 2016
  • Employees who self-identify as Indigenous Australian increased to more than 4%

 

Environmental solutions

  • Raised $500 million through Westpac Climate Bond issue
  • Increased the proportion of renewable energy financing from 45% to 59% in total electricity generation portfolio, since 2011
  • Delivered the first Green Star rated bank branch, achieving the highest possible rating of Six Stars
  • Undertook scenario analysis to understand the longer term impacts of limiting global warning to below degrees Celsius above pre-industrial levels

 

Better financial futures

  • Increased lending to the social and housing sector to $1.05 billion
  • Announced a further $2.25 million in funding to help establish or expand new businesses with microfinance
  • Launched the first ever mobile banking platform in Fiji
  • Achieved 100 years for time shared by employees on secondment in Indigenous Australian community organisations
     

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