Westpac ranked most sustainable company in the world
23 January 2014
Westpac today welcomed the announcement that it has been ranked number one in ‘Global 100 Most Sustainable Corporations in the World’ at the World Economic Forum in Davos, Switzerland.
The Global 100 is a data-driven corporate sustainability assessment published annually since 2005 by Corporate Knights, an independent media and investment research company based in Toronto, Canada.
Speaking from Davos, Westpac Chief Executive, Gail Kelly, said: “I am delighted that Westpac’s sustainability performance has been rated so highly on the global stage. It is wonderful recognition of the work of our people to help create a sustainable future and deliver long term value for our customers, employees, shareholders and the community.”
Mrs Kelly said that social, environmental and economic responsibility is a key part of Westpac Group’s culture, embedded from its formation almost 200 years ago.
As part of its 2017 sustainability strategy, Westpac is committed to finding ways to create a better future for the people who bank with, work with or invest in the Group, or are part of its wider community. Performance achievements in 2013 included the following:
- Employee engagement rose to its highest level of 87%, above the high global high performing norm of 85%.
- 42% of Westpac’s leadership roles were held by women placing the group in a strong position to achieve its aspirational target of 50% women in leadership roles by 2017.
- Westpac Group’s diversity and flexibility survey indicated that 62% of respondents used some form of flexible work arrangement, up from 18% in 2010.
- Employees spent 423 weeks’ worth of time sharing skills with Indigenous organisations through Jawun Indigenous Corporate Partnerships secondments, bringing total time to around 76 work years since helping found the program in 2001.
- Committed up to $6 billion for lending and investment in CleanTech and environmental services by 2017 and progress to date has been primarily in renewable energy, including two major wind farms and a solar farm.
- Committed to make up to $2 billion available for lending and investment in social and affordable housing and services by 2017.
- Invested in products and advisory services to ensure customers have a better relationship with money, for a better life, and to meet their financial goals in retirement.
Commenting on Westpac’s top ranking, Corporate Knights said Westpac has a long history of leadership and innovation in corporate sustainability. For further information on this year's Global 100 result, visit www.global100.org.