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About Westpac
Westpac, established in 1817, is an Australian bank with a strategic focus on Australia, New Zealand and the near Pacific. In December 2008 Westpac merged with St. George. The Westpac Group provides a broad range of banking and financial services, including retail, business and institutional banking. The group operates 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.
Website | http://www.westpac.com.au |
Headquarters |
275 Kent Street
2000 Sydney
Australia
|
CEO/chair |
Peter King CEO |
Supervisor | |
Annual reports |
Annual report 2021 CSR Report 2021 Annual report 2020 |
Ownership |
listed on Australian Securities Exchange & New Zealand Stock Exchange
Westpac's shareholders structure can be accessed here. |
Complaints and grievances |
Westpac includes details of complaints and grievance channels in its Human Rights Position Statement and 2020 Action Plan. Individuals and communities that may be adversely affected by the bank's finance can contact the bank via sustainability@westpac.com.au or by post. |
Related Dodgy Deals
Dodgy Deals map
Policy Assessments
Tracking the Equator Principles
EPFIs reporting status
Project name reporting status of Equator Principles signatories for each financial institutions' most recent reporting period. Where there is no percentage presented the EPFI has not reported having financed any project transactions in that reporting period.
Banks and Climate
Bank net zero commitments
This table tracks the net zero pledges and commitments of banks. It shows whether banks have committed to net zero by 2050 and have set an interim emissions reduction goal for 2025 and/or 2030. It also notes banks that have not yet set targets but have pledged to do so in the future, including by joining the Collective Commitment to Climate Action or Net Zero Banking Alliance. Finally, it notes whether banks have (pledged to) set Science-Based Targets. More information and references can be found by expanding the 'details' section of each bank.
- A blue check mark means the bank has set a target or joined the alliance. A check mark does not mean that the target set by the bank meets any particular standard, just that is has set a target. In case we have identified short comings in the target, for example when it only applies to lending and not underwriting), this is noted in the 'details' section.
- An orange dash means a bank has pledged to set a target (for example, banks commit to set 2030 and 2050 targets when they join the NZBA), but have not yet actually done so.
Abbreviations:
CCCA = Collective Commitment to Climate Action
NZBA = Net Zero Banking Alliance
SBT = Science-Based Targets
Banks and Human Rights
Human Rights Benchmark November 2019
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Response Tracking
This page evaluates Westpac's responses to instances of alleged human rights violations linked to its finance, raised by civil society organisations. It is not intended to be exhaustive, but covers selected impacts raised by BankTrack and other civil society partners since 2016. For the full scoring methodology, see here. For more information about BankTrack's evaluation of bank responses to human rights impacts, see the 2021 report "Actions speak louder: assessing bank responses to human rights violations".
News
Documents
Links
Policies
Voluntary standards
Westpac has committed itself to the following voluntary standards:- Banking Environment Initiative
- Carbon Disclosure Project
- Equator Principles
- Global Reporting Initiative
- Principles for Responsible Banking (PRB)
- Principles for Responsible Investment (PRI)
- Science Based Targets
- Soft Commodities Compact
- Task Force on Climate-related Financial Disclosures
- UNEP Finance Initiative
- United Nations Global Compact
- Universal Declaration of Human Rights
Investment policies
Westpac's webpage on corporate social responsibility can be accessed here.
Equator Principles
Implementation and reporting
Westpac is reporting on the implementation here.