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As one of Australia’s largest companies, Westpac Group can play a role in helping to create positive social, economic and environmental impact, for the benefit of all.

Westpac’s environmental, social and governance (ESG) dashboard summarises our non-financial performance and provides links to the source documents of published information and policies. All data as at 30 September 2020, unless otherwise stated. 

 

  FY18 FY19 FY20 Commentary Link to source document
Doing the right thing training (%) 97 97 99 Employees completing ‘Doing the right thing’ training 2020 Sustainability Datasheet: Employees (XLS 147KB)
Why complaints matter training (%)   97 99 Employees completing ‘Why complaints matter’ training 2020 Sustainability Datasheet: Employees (XLS 147KB)
Code of Conduct       Employees complete training on the Code of Conduct Westpac Group Code of Conduct (PDF 613KB)
Anti-Bribery and Corruption Policy       Employees complete training on the Anti-Bribery and Corruption Policy Westpac Anti-Bribery and Corruption Policy Principles
Total full-time equivalent employees

35,029

33,288

36,849

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Women as percentage of total workforce (%)

57

58

57

  2020 Annual Report (page 113)
Women in leadership (%)1

50

50

50

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Age diversity published         2020 Sustainability Datasheet: Employees (XLS 147KB)
Supporting employees with accessibility requirements         2017-2020 Accessibility Action Plan (PDF 4MB)
Supporting LGBTIQ employees      

First Australian organisation to sign the United Nations LGBTI Standards of Conduct²

20 days paid leave for employees undergoing gender transition.

2019 Sustainability Performance Report (page 64)
Addressing wellbeing          2020 Sustainability Datasheet: Employees (XLS 147KB)
Aboriginal and Torres Strait Islander new-to-bank hires (%)

4.3

6.6

2.4

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Flexible workplace arrangements         Flexible ways of working
Employee training – average hours per employee

20.0

19.1

22.7

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Employee Commitment index (%)3

73

72

73

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Speaking Up Policy         Speaking Up Policy (PDF 319KB)
Whistleblowing reporting – total number of new concerns

289

278

184

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Employee voluntary attrition (% of total staff)

10.0

10.3

7.4

  2020 Sustainability Datasheet: Employees (XLS 147KB)
New starter retention (% of new starters)4

84.1

84.5

85.8

  2020 Sustainability Datasheet: Employees (XLS 147KB)
Lost time injury frequency rate (LTIFR)

0.4

0.4

0.4

  2020 Sustainability Datasheet: Employees (XLS 147KB)
All Group Executives have signed the Banking and Finance Oath         Banking and Finance Oath

1. Women in Leadership refers to the proportion of women (permanent and maximum term) in leadership roles across the Group. It includes the CEO, Group Executives, General Managers, senior leaders with significant influence on business outcomes (direct reports to General Managers and their direct reports), large (3+) team people leaders three levels below General Manager, and Bank and Assistant Bank Managers.

2. https://www.unfe.org/wp-content/uploads/2017/09/UN-Standards-of-Conduct-Summary.pdf

3. New monthly employee survey conducted from 2017. Six month rolling average results reported.

4. Voluntary new starter retention over the new starter headcount for the 12-month period (permanent full time and part time employees).

  FY18 FY19 FY20 Commentary Link to Source Document
Lending to climate change solutions ($bn)TCFD

9.1

9.3

10.1

Target: $10b by 2020

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Facilitation of climate change solutions (e.g. green bonds) ($bn)TCFD

1.7

3.6

4.8

Target: $3bn by 2020

2020 Annual Report (page 47)
Proportion of electricity generation financing in renewables including hydro – Aust and NZ (%)TCFD

71

75

75

 

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Electricity generation portfolio emissions intensity (tCO₂-e/MWh)TCFD

0.28

0.26

0.25

Target: 0.30 (tCO₂-e/MWh) by 2020

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Finance assessed under the Equator Principles – Group ($m)TCFD

773

454

126

 

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Mining as a % of Group total committed exposure (%)TCFD

1.03

1.00

0.85

 

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Enhanced lending criteria to existing thermal coal sector customers (calorific value >5,700 kCal/kg)TCFD

Compliant

Compliant

Compliant

 

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Enhanced lending to new thermal coal mines or projects (calorific value >6,300 kCal/kg)TCFD

Compliant

Compliant

Compliant

 

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Share (%) of current Australian Business and Institutional portfolio exposed to sectors which by 2030 may face relatively higher growth constraints under a 1.5-degrees scenarioTCFD1

-

2.5

1.9

Australian Business and Institutional lending (excludes retail, sovereign, and bank exposures)

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Share (%) of current Australian Business and Institutional portfolio exposed to sectors which by 2030 may face relatively higher growth constraints under a 2-degrees scenario TCFD1

-

0.9

0.9

Australian Business and Institutional lending (excludes retail, sovereign, and bank exposures)

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Share (%) of current Australian mortgage portfolio in postcodes which by 2050 are likely to be exposed to higher physical risks under a 4-degrees scenarioTCFD2

1.7

1.6

1.7

Excludes RAMS

2020 Sustainability Datasheet: Sustainable Lending and Investment (XLS 147KB)
Climate-related issues integrated into overall risk management         2020 Sustainability Performance Report (page 33)
Board and Executive oversight of climate change issues      

Board oversight: including Six-monthly updates

Executive oversight: including Quarterly updates through Sustainability Council

2020 Sustainability Performance Report (page 32)

1. Excludes retail, sovereign, and bank exposures. Sectors whose medium (2030) and long-term (2050) performance under a scenario deviated by more than one standard deviation below average GDP growth, were classified as 'may face relatively higher growth constraints'.
2. Excludes RAMS and Equity Access.

  FY18 FY19 FY20 Commentary Link to Source Document
Total Scope 1 and 2 emissions (tCO2-e)1

128,339

121,168

107,634

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Total Scope 3 emissions (tCO2-e)1

90,454

87,262

91,616

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Paper consumption – Aust and NZ (tonnes)1

2,161

1,812

1,539

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Energy consumption (GJ)1

710,526

677,105

615,711

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Waste recycled (Tonnes)1

3,355

3,993

3,151

  2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Water consumption (kL)1

377,723

363,249

329,041

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)
Carbon neutrality across our business1

 Maintained

Maintained  

 Maintained

 

2020 Sustainability Datasheet: Enviroment (XLS 147KB)

1. Data reflects a 1 July – 30 June reporting year.

  FY18 FY19 FY20 Commentary Link to Source Document
Top suppliers assessed under the Westpac Responsible Sourcing Program (%)1

100

98

100

  2020 Sustainability Datasheet: Suppliers (XLS 147KB)
Spend with Indigenous Australian suppliers ($m)2

4.5

4.2

5.9

  2020 Sustainability Datasheet: Suppliers (XLS 147KB)
ESG objectives included in our supply chain management strategy         Westpac Group Responsible Sourcing Code of Conduct (PDF 1MB)
Slavery and Human Trafficking statement2

Published

Published

 

Published on or before 31 March

2019 Slavery and Human Trafficking Statement (PDF 224KB)

1. Suppliers included within the ‘Top Suppliers assessed under the Westpac Responsible Sourcing Program (%)’ are the top 100 suppliers to the Bank in Australia and New Zealand by spend assessed for inherent ESG risk for the twelve months ended September.

2. Annual spend with business that are 50% or more owned by and operated by Aboriginal or Torres Strait Islander person and certified with a relevant member organisation.

 

  FY18 FY19 FY20 Commentary Link to Source Document
Community investment excluding commercial sponsorships ($m)

128

130

153

 

2020 Sustainability Datasheet: Economic and Social Impact (XLS 147KB)
Community investment as a % of pre-tax profits – Group (%)

1.09

1.33

3.58

Target to maintain >1% (2017-2020)

2020 Sustainability Datasheet: Economic and Social Impact (XLS 147KB)
Financial education (participants)

133,844

619,995

1,009,232

 

2020 Sustainability Datasheet: Economic and Social Impact (XLS 147KB)
Number of approved applications for financial assistance from customers experiencing financial hardship

37,678

52,025

75,367

 

2020 Sustainability Datasheet: Economic and Social Impact (XLS 147KB)
  FY18 FY19 FY20 Commentary Link to Source Document
Independent Chair      

John McFarlane, Chair

2020 Corporate Governance Statement (page 7)

Independent Chair of Remuneration Committee      

Craig Dunn appointed Chair in 2016

2020 Corporate Governance Statement (page 7)

Number of independent directors

 8/9

 10/11

9/10

All directors independent with the exception of CEO

2020 Corporate Governance Statement (page 7)

Independence definition published      

 

Westpac independence definition (PDF 38KB)
Women on board

22%

36%

30%

 

2020 Corporate Governance Statement (page 8)

Diversity incorporated in nomination policy      

Not restricted to specific forms of diversity

Board Nominations Committee Charter (PDF 298KB)
Board skills matrix published      

 

2020 Corporate Governance Statement (page 9)

Clear board tenure policy      

 

Westpac Group Board Renewal Policy (PDF 31KB)
Average board tenure (years)

5

4

3

Rounded to nearest full year

2020 Corporate Governance Statement (page 10)
Board committees, including responsibilities and membership, outlined      

 

2020 Corporate Governance Statement (PDF 240KB)

Board performance assessed      

Board commissions an annual performance review by an independent consultant

2020 Corporate Governance Statement (page 5)

Board performance assessment published      

Annual independent review is not published. Results of the performance review are used to recommend directors for election each year

2020 Corporate Governance Statement (page 11)

  FY18 FY19 FY20 Commentary Link to Source Document
Remuneration policy outlined         2020 Annual Report (pages 70-98)
Introductory letter to remuneration report published         2020 Annual Report (pages 70-72)
Statutory remuneration tables published         2020 Annual Report (pages 92-98)
Actual remuneration received tables published         2020 Annual Report (pages 80-81)
Details of outright and unvested shares held by board and management outlined         2020 Annual Report (pages 95-97)
Minimum shareholding requirements for board and management outlined         2020 Annual Report (pages 89-91)
% of board and management meeting, or on track to meet, minimum shareholding requirements 100% 100% 100%   2020 Annual Report (pages 89-91)
CEO performance against objectives outlined         2020 Annual Report (pages 78-84)
CEO remuneration at risk outlined         2020 Annual Report (page 77)
Malus provision in place         2020 Annual Report (pages 85 and 87)
Claw-back provision in place1         2020 Annual Report (pages 85 and 87)
Ratio of highest paid to median salary published         2020 Sustainability Datasheet: Employees (XLS 147KB)
Gender pay ratios published         2020 Sustainability Datasheet: Employees (XLS 147KB)
% of employees covered by collective bargaining agreements published         2020 Sustainability Datasheet: Employees (XLS 147KB)

1. Clawback will apply, to the extent legally permissible and practicable, to deferred variable remuneration awarded in respect of performance periods commencing on or after 1 October 2019 for up to seven years from the date of grant. Clawback may occur in circumstances of serious or gross misconduct, fraud, bribery, severe reputational damage, and any other deliberate, reckless or unlawful conduct that may have a serious adverse impact on Westpac, its customers or its people which has resulted in dismissal or the Board considers at its discretion would have justified the dismissal of the relevant executive or where otherwise required by law. It is the Board’s current intention that clawback will only be considered for relevant conduct that occurred on or after 1 October 2019.

  FY18 FY19 FY20 Commentary Link to Source Document
Board risk and compliance committee         2020 Corporate Governance Statement (page 24)
Group Executive risk committee         2020 Corporate Governance Statement (page 25)
Independent audit function         2020 Corporate Governance Statement (page 26)
Key risks outlined         2020 Annual Report (pages 144-163)
Sustainability Council         Sustainability Management Framework
Stakeholder Advisory Council         Sustainability Management Framework
Sustainability materiality analysis published in annual report         2020 Annual Report (pages 34)
  FY18 FY19 FY20 Commentary Link to Source Document
Tax transparency report published         2020 report soon to be released
Effective tax rate 30.96% 30.35% 46.27%   2020 Annual Report (page 124)
  FY18 FY19 FY20 Commentary Link to Source Document
Political expenditure published         2020 Annual Report (page 68)
Political expenditure – Australia

$189,195

$166,650

$141,495

  2020 Annual Report (page 68)
Political expenditure – New Zealand ($NZ)

$19,150

$20,170

$9,175

  2020 Annual Report (page 68)