Sustainability governance framework
Accountability for our sustainability strategy starts with our Board and flows through to all employees.
Our Sustainability Council comprises senior leaders from across the business bringing different areas of expertise and perspectives and meets four times a year. This Council is responsible for championing sustainable business practices across Westpac Group and driving activities and objectives. Its specific roles include reviewing current and emerging issues looking at the risks and opportunities associated with our approach, endorsing key aspects of our policy framework and providing overall strategic direction including key accountability for our sustainability strategy targets and performance indicators. Council members also play a key role in identifying and validating our material issues which guide our response as well as the content of our annual reporting.
Progress against our Sustainability Strategy is reported to and discussed with the Executive Team and Board twice each year, with other items discussed on an as needs basis. For instance, Executive Team approval is required for all new public policies and positions, together with Board oversight as appropriate.
Reporting to this Council are a number of Committees and Working Groups, including our Environmental Management Committee, the Westpac Indigenous Advisory Committee and our CleanTech Working Group.
A similar structure exists in New Zealand where oversight of our activities is provided by the WNZL Sustainable Business Steering Committee, comprising the Executive Team and the Chief Economist. Input is also received from an independent External Stakeholder Panel made up of leaders in the business and community sectors.