Submitted by Commonwealth Bank of Australia
Commonwealth Bank of Australia has recently launched its new corporate responsibility plan, Opportunity Initiatives.
“Opportunity Initiatives demonstrates our intent to create more opportunities for more people through a focus on education, innovation and good business practice” said Kylie Macfarlane, General Manager, Corporate Responsibility. “We’ve listened to our customers, our shareholders, our own people, and the communities we serve and it is clear that these are the areas in which we can drive positive, lasting change.”
The plan brings together all of Commonwealth Bank’s corporate responsibility initiatives and targets, under these three themes:
Opportunity from education: building the capability of customers, businesses and communities through education, financial and digital literacy programs. For example, Commonwealth Bank supports the world’s largest financial education program of its kind, Start Smart, which educates over 550,000 students per year.
Opportunity from innovation: harnessing innovation to improve social outcomes and financial wellbeing through products, services and programs. Examples include Commonwealth Bank’s range of innovative financial services products designed for specific customer segments, including Indigenous Australians, migrants and youth. Commonwealth Bank also partners with research and industry leaders to advance the possibilities of technology, for example, investing to unlock the transformational benefits of quantum computing.
Opportunity from good business practice: focused on empowering employees, communities and making sustainable, transparent and balanced business decisions. Examples include embedding ESG lending commitments, introducing a ‘Responsible investing framework’ and continuing to raise targets to reduce Commonwealth Bank’s waste, water and energy usage.
The Opportunity Initiatives scorecard sets public targets against each of these themes and will form the basis of the Commonwealth Bank’s Corporate Responsibility report going forward.
To find out more about the Opportunity Initiatives, visit: www.commbank.com.au/opportunityinitiatives
To view the Opportunity Initiatives scorecard, visit: www.commbank.com.au/about-us/who-we-are/opportunity-initiatives/opportunity-initiatives-scorecard.html
About Commonwealth Bank of Australia
Commonwealth Bank of Australia is one of the largest listed companies on the Australian Securities Exchange and the most recognised brand in the Australian financial services industry. The Group provides retail, private, business and institutional banking services in more than 11 countries to more than 15 million customers in Australia and overseas.
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