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Australia: Put your bank on notice over coal and gas

Westpac Australia pdf

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Westpac Sydney, image by Merbabu (Own work) [CC BY-SA 3.0 or GFDL], via Wikimedia Commons
about Westpac

Westpac is an Australian bank with a strategic focus on Australia, New Zealand and the near Pacific. The Westpac Group provides a broad range of banking and financial services, including retail, business and institutional banking. On 1 December 2008 Westpac merged with St. George. The structure involves five key divisions including: Consumer Bank, Commercial and Business Bank, BT Financial Group, Westpac Institutional Bank and Westpac New Zealand. These five divisions serve more than 13 million customers.

At the end of 2015 Westpac controlled assets in worth of AUD812.16 billion.


ownership
listed on Australian Securities Exchange, New Zealand Stock Exchange

Publicly listed


image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

voluntary initiatives:

investment policies of Westpac

Westpac's sustainability risk management framework can be found here.

Human Rights Position Statement and 2017 Action Plan
May 01, 2015 | WestPac
Environmental Policy
Nov 26, 2014 | Westpac
Financing Agribusiness Statement
Nov 01, 2014 | Westpac
Climate Change & Environmental Position Statement & 2017 Action Plan
Sep 01, 2014 | Westpac
Financing Tobacco - Position Statement
May 06, 2014
Financing the Defence Sector - Position Statement
Sep 01, 2013 | Westpac
Sustainable Finance - Position Statement
Sep 01, 2013 | Westpac
Financing sustainable energy - Position statement
Sep 01, 2013 | Westpac
Paper purchasing policy
Apr 04, 2013 | Westpac
Reconciliation action plan
Jan 01, 2011 | Westpac
Investing where it counts for Aboriginals and Torres Strait Islanders
Group approach to indigenous communities
Jan 01, 2010 | Westpac
policy on indigenous communities

equator principles
Westpac has adopted the Equator Principles. For more information on how Westpac implements the Equator Principles go to the Equator page of Westpac.

human rights
True leader Front runner Follower Laggard
BankTrack has assessed Westpac on its implementation of the UN Guiding Principles on Business and Human Rights. Westpac is assessed as a Follower, with a total score of 5/12.
PolicyDue dil.ReportingRemedy
3/31/30.5/30.5/3
For more details, see Banking with Principles? 2016 update.

additional information

Westpac participates in the following networks:

image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

Westpac and the Equator Principles

Implementation and reporting

Westpac is reporting on the implementation here.


Contact and complaints

Equator Principles dodgy deals
dodgy deals on record
Liquified Natural Gas (LNG) project
Papua New Guinea
Liquified Natural Gas (LNG) is natural gas that has been chilled to liquid form, reducing it to one-six-hundredth of its original volume for transportation by ship to destinations…

image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

Great Barrier Reef Coal & Gas Exports
Australia
Australia is on the verge of an unprecedented coal boom. The epicentre of this expansion is the yet-to-be-developed Galilee Basin in Central Queensland. Galilee is the proposed…
Hazelwood coal fired-power station
Australia
Hazelwood power station and mine are located in Victoria's Latrobe Valley, 150 km east of Melbourne in Australia. The 1,542 megawatt brown coal-fired power station is supplied…
Maules Creek coal mine
Australia
Whitehaven Coal's Maules Creek mine is a part thermal, part semi soft coking coal mine being developed in the Gunnedah Basin in Northern New South Wales. It would produce…
check dodgy deals on record
image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

BankTrack has identified controversial issues with the companies listed below that require attention from Westpac.

Adani
India
Adani is a large Indian resources, logistics and energy company with big expansion plans. It was founded by Indian billionaire Gautam Adani, in 1988. It has coal mining interests…
Anglo American
United Kingdom
Anglo American is a British multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world…
Areva
France
Created in 2001 and 90% owned by the French state, this multinational conglomerate boasts of interests in every aspect of nuclear power from uranium mining to nuclear fuel…
BHP Billiton
Australia
BHP Billiton is the world's largest mining company. It occupies significant positions in major commodity businesses, including aluminium, energy coal and metallurgical coal,…
Jindal Steel & Power
India
Jindal Steel and Power Limited (JSPL) is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure. It…
Rio Tinto
Australia
Rio Tinto is a mining and exploration company involved in each stage of metal and mineral production and processing. Rio Tinto is one of the largest publicly listed mining…
image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia


 = dodgy deal
 = company profile
image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

2016 2015 2014 2013 2012 2011 2010
image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

videos

Your postcards have been delivered! – Westpac AGM 2014
Dec 15, 2014 - Westpac CEO, Gail Kelly, graciously accepted the 1,000 postcards that were made her at today's Westpac AGM. But, we'll be sending her more, asking her to make Reef protection her legacy before she retires next year.

image
headquarters
275 Kent Street
2000 Sydney
Australia
CEO/chair
Brian Hartzer
CEO
annual reports
Annual report 2015
 
banktrack contact

Paul Oosting, Wilderness Society, Australia

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