Westpac named most sustainable bank globally

Jen Cook
Westpac named most sustainable bank globally

Westpac has been named the most sustainable bank globally in the 2014 Dow Jones Sustainability Index (DJSI). This further builds Westpac Group’s reputation in sustainability after being named most sustainable company in the Global100 earlier this year. 

Westpac New Zealand Acting CEO David McLean said he was delighted Westpac Group had achieved sector leadership in this well recognised benchmark. 

"This clearly shows our commitment to sustainability is deeply embedded throughout our organisation.”

Westpac achieved its strongest ever score (93%) in the overall evaluation of how it managed and performed across social, economic and environmental dimensions. 

The performance was rated strongest in:

  • Financial inclusion
  • Financial stability and systemic risk
  • Customer relationship management
  • Risk and crisis management
  • Labour practice indicators and human rights
  • Climate strategy
  • Supply chain management
  • Brand management
  • Anti-crime policy and measures, codes of conduct, compliance, corruption and bribery.

Westpac has been recognised as a global leader for banks in the DJSI since 2002 and achieved sector leadership between 2002 and 2007, in 2011, and again this year. 

Sustainability strategies 

The DJSI assessment noted Westpac’s business strategies that contributed to this score:

  • Sustainability approach – An approach to sustainability driven by stakeholder involvement and customer relationship management
  • Workforce diversity – Identifying human capital development as critical to success, Westpac continue to increase the number of women in leadership, and conduct annual analyses of pay equity
  • Innovation – Continued focus on the digitalisation of banking and increasing the number of online customers
  • Renewables financing – Westpac are currently responsible for 55% of renewables financing in Australia and New Zealand.
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