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Created before Nov 2016
Last update: 2019-06-04 16:52:01

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Westpac office in Sydney, Australia. Photo: Google Earth/Streetview

About Westpac

Westpac, established in 1817, 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. In 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.

Website	http://www.westpac.com.au
Headquarters	275 Kent Street 2000 Sydney Australia
CEO/chair	Peter King Acting CEO and Acting Managing Director
Supervisor	Reserve Bank of Australia
Annual reports	Annual report 2018 CSR report 2018
Ownership	listed on Australian Securities Exchange & New Zealand Stock Exchange Westpac's shareholders structure can be accessed here.

Related Dodgy Deals

Westpac has been linked to the following "Dodgy Deals", e.g. as a current or past financier or through an expression of interest. Find out more about dodgy deals here. See the project or company profile for more details on the nature of the bank's link to the Dodgy Deal.

Projects - active profiles

There are no active projects for Westpac now.

Projects - on record profiles

Great Barrier Reef Coal & Gas Exports Australia profile

oil and gas | transport and infrastructure

Debt – corporate loan

AUD 1,086 million

5 May 2013

source: link

Hazelwood coal power plant Australia profile

energy plants - coal

Debt – corporate loan

AUD 54 million

2008

source: link

Liquified Natural Gas (LNG) project Papua New Guinea profile

oil and gas

Debt – project finance

15 December 2009

source: link

Maules Creek coal mine Australia profile

mining - coal

Approached, interested

December 2012

participated in ANZ's syndicated loan

source: link

Companies - active profiles

Adani India profile

energy plants - coal | mining - coal | oil and gas

Uncategorised

EUR 121.1 million

2010 - 2013

shares/bonds underwriter or manager

source: Banks and Coal Spreadsheet, Profundo, 2014

Debt – corporate loan

EUR 486.2 million

2010 - 2013

source: Banks and Coal Spreadsheet, Profundo, 2014

Wilmar International Singapore profile

agriculture - palm oil

Debt – corporate loan

USD 33 million

2018

source: Forests and Finance Database
link

Debt – corporate loan

USD 19 million

2017

Revolving credit facility

source: Forests and Finance Database
link

Debt – corporate loan

USD 65 million

2014

Revolving credit facility

source: Forests and Finance Database
link

Debt – corporate loan

USD 20 million

2014

Revolving credit facility

source: Forests and Finance Database
link

There are no active companies for Westpac now.

Companies - on record profiles

Anglo American United Kingdom profile

mining - coal | mining - non coal

Debt – corporate loan

EUR 20.1 million

2005 - 2013

source: Banks and Coal Spreadsheet, Profundo, 2014

Areva France profile

energy plants - nuclear | energy plants - renewables | mining - non coal | nuclear industry

Debt – corporate loan

EUR 40 million

source: Euroweek - Issue: 986;Euroweek - Issue: 990; Thomson ONE database.

BHP Billiton Australia profile

mining - coal | mining - non coal | oil and gas

Uncategorised

EUR 24.7 million

2005 - 2013

shares/bonds underwriter or manager

source: Banks and Coal Spreadsheet, Profundo, 2014

Debt – corporate loan

EUR 43.1 million

2005 - 2013

source: Banks and Coal Spreadsheet, Profundo, 2014

Debt – corporate loan

EUR 39.7 million

source: International Financing Review, 26 October 2002; Prospectus WMC Resources, 26 June 2003; International Financing Review, 26 October 2002; Euroweek - Issue: 780; Euroweek - Issue: 877

Jindal Steel & Power India profile

mining - coal | mining - non coal

Debt – corporate loan

EUR 0.4 million

2010 - 2013

source: Banks and Coal Spreadsheet, Profundo, 2014

Marubeni Japan profile

energy plants - coal | forestry - pulp and paper | mining - non coal | transport and infrastructure

Debt – corporate loan

USD 15 million

2014 - 2017

source: BankTrack Coal Developers Report
link

Rio Tinto Australia profile

mining - coal | mining - non coal | nuclear industry

Debt – corporate loan

EUR 31.4 million

2005 - 2013

source: Banks and Coal Spreadsheet, Profundo, 2014

Dodgy Deals map

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Assessments

Human rights

Bank

Country

Details

Leader

Front runner

Follower

Laggard

Westpac

AUS

1.0100

Australia

Leader

Front runner

Follower

Laggard

Westpac's human rights policies, processes and reporting were assessed as part of the BankTrack Human Rights Benchmark in November 2019. The bank is assessed as a Front runner, with a total score of 6.5 out of 14.

Policy: 2.5/3
Due dilligence: 1.5/5
Reporting: 1.5/3
Remedy: 1/3

For more details, see the BankTrack Human Rights Benchmark 2019.

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About Westpac

Related Dodgy Deals

Projects - active profiles

Projects - on record profiles

Great Barrier Reef Coal & Gas Exports Australia profile

Hazelwood coal power plant Australia profile

Liquified Natural Gas (LNG) project Papua New Guinea profile

Maules Creek coal mine Australia profile

Companies - active profiles

Adani India profile

Wilmar International Singapore profile

Companies - on record profiles

Anglo American United Kingdom profile

Areva France profile

BHP Billiton Australia profile

Jindal Steel & Power India profile

Marubeni Japan profile

Rio Tinto Australia profile

Dodgy Deals map

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Select sectors:

Assessments

News

Westpac accused of multiple legal breaches, allegedly allowing customers to pay for child sexual abuse

4 out of 5 banks failing on human rights, new BankTrack Human Rights Benchmark shows

Too little, too late

ANZ and Westpac boosted new lending to fossil fuel projects last year, figures show

NAB, ANZ and Westpac hit with climate risk shareholder resolutions

Big Australian banks face shareholder vote on coal lending

BankTrack 2019 Human Rights Benchmark: criteria and scope announced

Australian Prudential Regulation Authority demands banks, insurers act on climate risk

Every two weeks a bank, insurer or lender announces new coal restrictions

Our Future: Clean energy a test for banks’ rehabilitation

Banks massively financing fossil fuels unclear about future of ... fossil fuels

Westpac makes no apology for continuing to back dirty coal

Principles must bring commitments

Australian inquiry slams greedy banks and regulator for rampant misconduct

Liberian communities harassed after calling on banks to halt $1.5 billion loan to Wilmar over landgrabbing concerns

Big four banks quit coal only to invest in other fossil fuels, research finds

Big four banks quit coal only to invest in other fossil fuels, research finds

New research: Australian banks 2ºC scorecard 2018

Report finds major banks ramped up fossil fuel financing to $115 billion in 2017

Abbot Point coal terminal: Westpac may not refinance Adani loan

'Big four' Australian banks slammed for fossil fuel backing

Westpac’s new climate policy rules out most new coal mines – including Carmichael!

Banks' climate change talk not yet matched by action

Financing of coal industry expansion by top banks undermining Paris Agreement

New polling shows half of customers prepared to change banks over fossil fuels – as prominent Australians demand climate action

New poll: Australians draw the line at badly behaving banks

No excuse: How Australia’s big four banks can better respond to land grabs

Australian banks: New Report highlights gulf between renewable and fossil fuel financing

Australian banks 'favour fossil fuel projects over renewables by $6 to $1'

Hundreds publicly close bank accounts over fossil fuel investments

Australian banks face more pressure over support for coal projects

Adani arm to raise $1.5 bn in overseas debt in 2014

Big Four Australian banks lose customers over fossil fuel gamble

Customers switch banks in day of divestment

Bank accounts closed in fossil fuels protest

Australian banks backing companies accused of land grabs

Westpac customers divest!

Australian and French banks target of protests on both sides of the world for investing in Australian coal projects

Earth to Westpac: DIVEST!

Reality check for Aussie debt

Stranded assets, anyone? Testing times for the fossil fuel market

Adani Abbot Point Terminal Plans $1.2 Billion Debt Issue

Sixty prominent Australians call on ‘big four’ banks to end fossil fuel investment

ANZ biggest gambler on dirty coal and gas exports

Report triggers campaign to prevent Australian fossil fuel investment

BankTrack not satisfied with new draft of Equator Principles

Equator Principles goes beyond project finance, improves transparency

While BankTrack criticizes Equator Principles, IFC celebrates Community of Learning

Time to Improve the Equator Principles, BankTrack Says

BankTrack to Equator Principles banks; ‘get the Outside Job done’

Financiers search for sustainable future

Big banks 'no' to coal plant

Banks being urged to lend 'green'

Banks under scrutiny over coal funding

New rules for Equator Principles, but no new commitments from banks

BankTrack calls upon banks to Close the Gap on investment policies

Equator Principles: Action, not words needed