Our approach to responsible investing.

We believe in responsible investment - choosing investments that meet our standards when it comes to environment, social and corporate governance factors.

We engage an independent provider of Environmental, Social and Governance (ESG) research and ratings to provide a list of companies subject to the exclusions below, based on their definitions, criteria and assessments.

The asset exclusions currently encompass the following:


  • Companies involved in the manufacture of nuclear weapons, cluster munitions and anti-personnel mines (together, "controversial weapons")
  • Companies involved in the manufacture and sale of assault weapons to civilian customers


  • Companies involved in the manufacture of tobacco products

Fossil Fuels

  • Companies that derive more than 10% of their revenue from oil and gas exploration, production, or refining activities. This includes revenues from oil sands extraction, oil and gas exploration in offshore Arctic regions, and shale energy exploration and/or production
  • Companies that derive more than 10% of their revenue from thermal coal mining
  • Companies that have their primary business activity in the oil and gas drilling, oil and gas equipment and services, integrated oil and gas, oil and gas exploration and production and coal and consumable fuels sub-industries as defined by Global Industry Classification Standards


  • Companies involved in predatory lending practices as defined by our ESG research provider
  • Companies involved in the processing of whale meat.

However, our funds may hold some investment in an underlying fund that is not managed by us. These underlying funds are not subject to our responsible investment policy and may include investment in companies that we would normally exclude. This currently applies to the Other (alternative investment) asset class, which only excludes controversial weapons and tobacco. Asset exclusions also do not apply to derivative-based investments.

We incorporate environmental, social and governance factors into our investment analysis - both before we decide to invest in a company and then again during regular reviews. BT Funds Management (NZ) Ltd (BTNZ), our funds management arm, is a signatory to the UN-supported Principles for Responsible Investment.

All our investment funds are managed under our responsible investment policy.

Take a look at BTNZ's Responsible Investment Approach, otherwise you can see a comprehensive overview of our Responsible Investment Policy.

Things you should know.

You can get a copy of any applicable Product Disclosure Statement or Term Sheet for your investment from any Westpac branch in New Zealand or you can download from the Investor document centre.

Investments made in the managed funds distributed by Westpac New Zealand Limited do not represent bank deposits or other liabilities of Westpac New Zealand Limited or any other member of the Westpac Group of companies, are subject to investment and other risk, and are not guaranteed by any person.