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Westpac Sets Out Its Sustainability Strategy to 2023

Published 02-11-21

Issued by Westpac Group

Summary

Westpac’s 2020 Sustainability Performance Report is structured around the most material topics identified through our sustainability materiality assessment, and provides information on the steps we are taking to become a simpler, stronger bank and support our customers, people and communities.

Report Highlights

Building on its long term objectives, Westpac’s refreshed Sustainability Strategy sets out the bank’s sustainability priorities for the next three years:  

  • Backing a stronger Australia – contributing to the success of the nation by backing people, jobs and ideas shaping the future;
  • Helping when it matters most – helping at a personal, local level by supporting customers and businesses through times of change and hardship, supporting financial wellbeing; and
  • Collaborating for impact – sharing knowledge and learning from partners to help solve global challenges where finance can play a role, including respecting human rights and supporting the transition to a climate resilient future.

“For us, running a sustainable business is how we seek to create value for our customers, people, shareholders and the broader community over the long term,” said Peter King, Westpac Group CEO.

“Listening to stakeholder feedback about what matters most, our sustainability priorities are centred around how we can work together to navigate the period ahead and the role that we can play as a bank to support our customers, our communities and the broader economy.” 

For further details, including target outcomes and measures, see the Westpac 2023 Sustainability Strategy.

2020 Sustainability Performance Report
Westpac’s 2020 Sustainability Performance Report is structured around the most material topics identified through our sustainability materiality assessment, and provides information on the steps we are taking to become a simpler, stronger bank and support our customers, people and communities.

Examples include:

  • support for customers and businesses through the COVID-19 pandemic and bushfires;
  • actions taken as part of the bank’s AUSTRAC Response Plan;
  • enhanced climate change and human rights disclosures;
  • establishment of a Safer Children, Safer Communities work program to help reduce the human impact of financial crime;
  • second year reporting on progress towards the United Nations Environment Programme Finance Initiative’s Principles for Responsible Banking (PRBs); and
  • expanding our Indigenous Connection call centre to cover all states and territories.

About Westpac Group

Founded in 1817, Westpac is Australia’s first bank and oldest company. With our portfolio of brands, we provide customers with a full range of banking services, as well as selected insurance, superannuation and wealth platform services to consumers and businesses.

Please see our New Zealand website for information on our sustainability approach in New Zealand.

Media contact
Stephanie Arena
Westpac Media Relations
+61 409 454858

Westpac Group

Westpac Group

Australia’s first bank and Australia’s first company.

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