- Westpac Group (ASX:WBC) Publishes 2014 Annual Review & Sustainability Report (GRI G4)

The report provides insights into the Group's sustainability performance, and is prepared in accordance with the Global Reporting Initiative G4 framework
Nov 13, 2014 5:05 AM ET

November 13, 2014 /3BL Media/ - Westpac Group has released its 2014 Annual Review & Sustainability Report which provides insights into its sustainability performance, and is prepared in accordance with the Global Reporting Initiative G4 framework.

2014 was a landmark year for Westpac Group’s sustainability performance.

The Group met or exceeded most of its targets showing that its commitment to sustainability is deeply embedded in its business processes, culture and operational strategy.

Highlights include:

  • Increased proportion of women in leadership roles to 44%, placing the Group in a strong position as it works towards its aspirational target of 50% by 2017.
  • Increased lending to the CleanTech and environmental services sector to $8 billion, well ahead of its target of making available up to $6 billion to this sector by 2017.
  • Worked with the World Bank to bring the first green bond to the Australian market.
  • Increased lending to the social and affordable housing sector by 26%, in line with its commitment to make up to $2 billion available to this sector by 2017.
  • Launched its most ambitious Reconciliation Action Plan, with almost 50 commitments including a goal to employ 500 additional Indigenous Australians by 2017.
  • Established the Westpac Bicentennial Foundation, a $100 million fund to provide 100 education scholarships a year, forever – Australia’s largest ever private education fund.

Enhanced disclosure
The Group introduced reporting on the emissions intensity of its infrastructure and utilities portfolio and breakdowns of lending to the natural resources and CleanTech and environmental services sectors. Westpac Group has also released its updated Climate Change and Environment Position Statement and 2017 Action Plan.

Global recognition
In 2014 Westpac Group has been assessed as the highest ranked bank globally on the 2014 Dow Jones Sustainability Index and as the Most Sustainable Corporation in the World in the Corporate Knights 2014 Global 100 list.

Contact and feedback
To ask a question, provide feedback or subscribe to the Group's updates please email Follow on Twitter via @WestpacSustain.