Responsible sourcing

Westpac recognises the potential of our supply chain to drive positive social and environmental change.

Our approach and position

Westpac seeks to conduct business with organisations which share our values, are aligned to abide by our principles, and help support our commitments to operate in an ethical, socially and environmentally responsible manner.


Our goal is to build relationships and collaborate openly with suppliers to maximise the positive impacts, and mitigate the negative impacts of our purchasing.

Our policies and action areas

How we work with suppliers to create sustainable outcomes

Our Responsible Sourcing program integrates essential risk management principles to support our supplier relationships in mitigating the environment, social and governance (ESG or ‘sustainability’) risks in our supply chain, including salient issues such as climate change, nature, human rights and modern slavery. Refer to our Responsible Sourcing Code of Conduct (PDF 1MB). 


The Code’s purpose is to:

  • Share our key sustainability principles for doing business with our suppliers
  • Support suppliers to identify, mitigate and manage their sustainability (including environmental, social, human rights, modern slavery and governance) risks
  • Set expectations of our suppliers and their supply chain engagements in providing goods and services to Westpac. 


Our Responsible Sourcing program takes a risk-based approach. Our engagements with suppliers throughout the lifecycle of our partnerships may include activities that seek to identify, assess, mitigate and monitor the sustainability impacts of our purchasing decisions.  


We track and report sustainability risk metrics and seek to work with suppliers to improve their performance during the life of the partnership.


Learn more about how we work with suppliers.

How we seek to drive social change through supplier inclusion and diversity

We seek to buy from businesses that are driven by a social or environmental purpose or that support people who may have traditionally been financially excluded.

 

To achieve a more inclusive and diverse supply chain, we aim to:

  • Seek opportunities to purchase goods and services from diverse suppliers
  • Integrate supplier inclusion and diversity initiatives into our Reconciliation Action Plan (RAP)
  • Support people with disabilities through our Access & Inclusion Plan (AIP)
  • Collaborate with diverse suppliers to help build their capability and capacity, so that they can adequately and appropriately supply Westpac at the right time
  • Raise awareness across Westpac about how our procurement decisions can drive social impact by partnering with diverse supplier
  • Encourage our suppliers to embrace inclusion and diversity into their own operations and supply chains.

For information on prompt invoice payments for Westpac Suppliers

For more than 200 years Westpac has been backing Australian businesses.


Westpac continues to support business suppliers by ensuring they are paid within a maximum of 30 days of us receiving a valid invoice for goods and services they have delivered.

How we work with our supplier partners

Learn about how we work and find out what we look for when selecting a supplier (PDF 551KB).

Our progress

We report regularly and aim to be as transparent as possible to enable stakeholders to compare our relative performance over time.


Find out how we seek to create economic, social and environmental impact in our Annual Report and Climate Report.