Our commitments and partnerships

Sustainability

UN Environment Programme Finance Initiative

Since 1992, we’ve been a founding signatory to the United Nations Environment Program Finance Initiative (UNEP FI). This is a global partnership between UNEP and over 200 institutions, including banks, insurers and fund managers, working together to understand the impacts of environment and social considerations on financial performance.

In 2023, we partnered with UNEP FI to pilot the BETA versions of the Taskforce on Nature-related Financial Disclosures (TNFD). The outcomes of this pilot contributed to the development and finalisation of the TNFD final framework. We also participate in the UNEP FI Human Rights Community of Practice, which focuses on peer-led learning and addressing human rights risks.

UN Environment Programme Finance Initiative - Principles for Responsible Banking

In May 2018, we joined 25 other leading banks from five continents to develop shared principles, aligning the purpose of banking with delivering against the United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

Westpac’s Principles for Responsible Banking Self-Assessment Template can be found in our Sustainability Index and Datasheet.

UN Global Compact

In 2002, we became a signatory to the UN Global Compact (UNGC), an initiative to align signatories' strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals. 

We actively participate in the UN Global Compact Network Australia Modern Slavery Community of Practice and have reported on our progress against the UNGC’s Ten Principles annually since 2002.

View our Statement of Support for the Sustainable Development Goals (PDF 1MB).

The Equator Principles

In 2003, we were one of 10 founding signatories globally to the Equator Principles, a risk management framework adopted by financial institutions for determining, assessing and managing environmental and social risk in projects. We seek to apply the Equator Principles to project finance transactions and corporate loans where appropriate.

View our latest Sustainability Index and Datasheet to understand how we report against the Equator Principles.

We continue to collaborate and engage with stakeholders on key sustainability topics, including climate, nature and human rights, to evolve our approach to sustainability and how we manage risks and impacts in these areas.
 

Climate and Nature

Climate Action 100+

In 2018, BT signed on to Climate Action 100+, a global investor initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.

Montreal Carbon Pledge

In September 2014, our wealth management business signed the Montreal Carbon Pledge, which commits investors to measure and publicly disclose the carbon footprint of their investment portfolios on an annual basis. It is supported by the Principles for Responsible Investment and the United Nations Environment Programme Finance Initiative.

Paris Agreement

We were the first Australian bank to commit managing our business in line with the Paris Agreement in 2015. Our Climate Transition Plan (PDF 3MB) outlines the actions we are taking to meet our commitments in line with the Paris Agreement.

RE100

As one of the first Australian companies to make this commitment, we became a member of RE100, a global leadership initiative led by The Climate Group in partnership with CDP, bringing together the world’s most influential businesses who have committed to go 100% renewable.

Australian Industry Energy Transitions Initiative

In 2021, we joined the Australian Industry Energy Transitions Initiative (ETI). Convened by independent not-for-profit bodies Climateworks Centre and Climate-KIC Australia, Australian Industry ETI brings together leaders from industry, business and government agencies to coordinate learning and action on net zero emissions supply chains.

This pioneering initiative convenes Australian leaders to collectively explore and address the challenges associated with climate change.

Taskforce on Nature-related Financial Disclosures

We joined the Taskforce on Nature-related Financial Disclosure (TNFD) Forum, a collaboration of more than 350 international members aiming to support transparent disclosures around nature-related risks and opportunities.
 

Human Rights

Shift Financial Institutions Practitioners Circle

Shift is the leading centre of expertise on the UNGPs. We are a member of Shift’s network of private banks and export credit agencies designed to co-create innovative approaches to advance leading practice for human rights.

Fintel Alliance

We are a member of AUSTRAC’s Fintel Alliance, a public-private partnership tackling serious and organized crime, including child sexual exploitation and forced sexual servitude. This platform enables collaboration with industry, law enforcement, and regulators to address these crimes directly and indirectly, fostering broader engagement on financial crime solutions.

Responsible Investment Association of Australasia (RIAA)

BT and BT Funds Management NZ are members of RIAA which is helping to champion responsible investing and drive stronger responses to human rights and modern slavery risk in Australia and New Zealand.

International Centre for Missing and Exploited Children (ICMEC)

We have partnered with ICMEC Australia to collaborate on initiatives designed to break down barriers to identifying child sexual exploitation in the payment industry. This includes fostering industry collaboration to share information and data for identifying suspicious transactions and supporting investigations.

On Us: Australian Business Coalition for Safeguarding Children

We are a founding member of the On Us coalition, launched in November 2023. The coalition, including IHG Hotels and Resorts, GPT Group, Tik Tok and TBWA, is a cross-sector initiative to strengthen the capability and commitment of Australian businesses to safeguard children and young people.