The 2015 financial year marked the mid-point of Westpac Group’s five-year Sustainability Strategy.
This strategy recognises that for Westpac Group to prosper over the long term, so too must the communities in which it operates. Over almost two centuries, this view has motivated the bank to tackle emerging issues that will affect the future prosperity of its stakeholders, where it has the skills and experience to make a positive difference.
Westpac has released its 2015 Reporting Suite, including its Annual Review & Sustainability Report (an integrated summary) and a more detailed Sustainability Performance Report. Together, these reports provide a detailed update on the issues faced and progress made against its strategy during the year.Westpac’s sustainability performance has attracted external recognition, including being ranked as the world’s most sustainable bank in the 2015 Dow Jones Sustainability Index.
2015 sustainability performance highlights:
Embracing societal change
- Leadership roles held by women increased from 44% to 46%
- Significant progress made against Reconciliation Action Plan, including recruiting an additional 150 Aboriginal and Torres Strait Islander people
- Introduced a market leading Enterprise Agreement
- Introduced new workspaces and working style to increase employees’ agility, productivity, flexibility and wellbeing
- $6.1 billion lending/investment in CleanTech and environmental services sector
- Met all direct environmental footprint targets
- Committed to a number of initiatives, including the CDP Road to Paris program, now known as We Mean Business Coalition
- Released an updated Climate Change & Environmental Position Statement & Action Plan, which reconfirmed commitment to supporting the transition to a Two Degree Economy
Better financial futures
- $1.02 billion lent to social and affordable housing sector
- 67,122 participants in Westpac Group’s financial literacy education programs
- 47,047 financial assistance packages issued
Westpac also strengthened its Sustainability Risk Management Framework, with the introduction of a Human Rights Position Statement and Action Plan and Financing Agribusiness Position Statement, and sharpened its focus on positive social change through a new Social Impact Framework.