Advocating for a low carbon economy
Westpac recognises that climate change is a major threat to our environment, economy and wellbeing. It also presents opportunities – for new jobs, technologies and services. The finance sector has a major role to play in helping New Zealand transition to a low carbon economy.
Supporting the Zero Carbon Bill
Westpac NZ supports urgent action on climate change. The Zero Carbon Bill is the major driver of the country’s response to the Paris Agreement and to the global climate change challenge. The Bill establishes a foundational framework for this government, and for successive governments, to set necessary and transparent long-term targets, budgets, plans, and accountability into a critical transformation on which our economy must embark with urgency. See Westpac NZ’s full submission here.
Part of the New Zealand Sustainable Finance Forum
The New Zealand Sustainable Finance Forum has been established to deliver a Sustainable Finance Roadmap to help New Zealand shift to a financial system that supports sustainable social, environmental and economic wellbeing. The Forum brings together key players in the New Zealand financial system spanning our banks, insurance companies, corporates, civil society and academia. Find out more.
Committed to the Climate Leaders Coalition
Westpac is one of more than 100 NZ companies committed to measuring and reporting our own greenhouse gas emissions, and working with suppliers to reduce emissions. Westpac is on the leadership group of 13 companies, which wrote the founding statement in 2017. Visit the Climate Leaders Coalition website for more information.
Westpac NZ climate change impact report
The research, commissioned by Westpac and carried out by EY and Vivid Economics, finds New Zealand could be $30 billion better off if early and consistent action is taken to help keep global warming to less than two degrees Celsius. Find out more.
Reducing fossil fuel investment
Westpac is the only New Zealand bank to publish its exposures to both the fossil fuel and the climate change solutions sectors.