Managing our environmental impact
We are a carbon neutral bank
As a services company, our emissions come from our business operations: the resources and materials that we use and the services that our suppliers provide us with to do our business. The biggest emissions for Westpac are our electricity use in our corporate offices and branches, fuel from our fleet and air travel.
Since 2008, we have been measuring and reporting our carbon emissions. From 2013, we started offsetting our annual carbon emissions by purchasing New Zealand Units through the New Zealand Emissions Trading Scheme. This means that we are paying for carbon credits which are tradable certificates that are equivalent to the removal, reduction or avoidance of carbon dioxide equivalent (tCO2e) to achieve net zero carbon emissions.
* Other emissions include electricity transmission and distribution line losses, private vehicles, accommodation, refrigerant, taxi, waste, rental car, diesel and LPG.
Our total 2019 carbon emissions are equivalent to:
- 1,328 return economy flights from Auckland to London; or
- the embodied emissions of 31,263,830 large cappuccinos; or
- the volume of 34,347 Olympic swimming pools.