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Climate change.
We're committed to helping New Zealand take action on climate change.
Climate change is already impacting homes, businesses and communities in Aotearoa New Zealand. We support the transition to an inclusive, low-emissions and climate-resilient future for all. We are helping our customers navigate these challenges by supporting households and businesses to become more resilient through education, insights, products and services.
Our journey to date.
Since 2008, Westpac NZ has been committed to the transition to a lower emissions economy, starting with a focus on reducing emissions within our own operations.
Over time, we have expanded our efforts to understand the emissions of our customers, recognising the importance of supporting them in their own emissions reduction efforts and helping them build resilience to a rapidly changing climate. This has included providing dedicated ESG advisory support and developing financial products and insights designed to help support the transition to a low-emissions, climate-resilient economy.
Our climate approach.
Our journey is ongoing, and we are dedicated to continuous improvement and transparency through our Westpac New Zealand Climate Transition Plan (CTP) developed in 2024.
Our CTP helps guide the way we conduct business, support customers and engage with stakeholders. It outlines how we are responding to our climate-related risks and opportunities and incorporates Westpac NZ's actions to implement the Westpac Group Climate Change Position within an Aotearoa context. It includes our short- and medium-term targets and actions for how we will work towards achieving our longer-term ambitions.
Our goal in transition planning is to help our bank and the customers and communities we serve to be prepared for the impacts of climate change. This includes ensuring our lending, procurement and internal investment is in the right place. We are also positioning ourselves and supporting customers to seize the opportunities presented by the transition to a low-emissions, climate-resilient economy.
Westpac NZ's and Westpac Group’s CTPs complement each other while reflecting the different national contexts, challenges, regulations and priorities in which we operate. Read Westpac Group’s Climate Transition Plan (PDF).
Aligned to our enterprise purpose of Taking action now to create a better future, our climate action is driven by the Westpac NZ Sustainability Commitment to power a sustainable New Zealand by enabling an inclusive, low-emissions and climate-resilient future for all.
Interconnection with nature and human rights.
Climate change, human rights, and natural capital are deeply interconnected. As ecosystems degrade and climate impacts intensify, vulnerable communities face greater risks to health, livelihoods, and cultural heritage.
Protecting natural capital such as our soils, water and biodiversity, is critical to climate resilience. These natural systems regulate our climate, store carbon and buffer us from climate shocks. Their degradation can accelerate climate impacts and can undermine the rights of people to live in safe, healthy environments.
Addressing these challenges together makes sure that climate action is inclusive and creates long-term prosperity for Aotearoa.
Read more about our approach to nature and human rights.
Our Climate Transition Plan.
The Westpac NZ Climate Transition Plan addresses our climate-related risks and opportunities, under three pillars.
Our progress.
We report annually on our progress against our CTP including our climate targets and metrics in the Westpac NZ Climate Report and the ESG Dashboard.
Our governance.
Westpac NZ’s governance structures for managing climate-related risks and opportunities are discussed in the Governance section of the Westpac NZ Climate Report.
Helping our customers.
Westpac Greater Choices Home Loan
Helping you create a warmer, drier, healthier and more energy efficient home life.
Sustainable Business Loan
Supporting Aotearoa businesses to progress their sustainability journey.
Sustainable Farm Loan
Helping farmers to accelerate sustainability across all aspects of farming.
Sustainable Equipment Finance Loan
Helping businesses fund sustainable equipment.
Sustainable finance
Providing innovative finance solutions to support a low-emissions economy.