Westpac Group CEO: Creating a sustainable future
30 May 2016
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30 May 2016
Our goal at Westpac Group is to build one of the world's great service companies, and we know that to get there, we have to operate our business in a sustainable way. Similarly, we know the value of our franchise depends on the depth of relationships we have with our customers and the broader community.
So for our business to have a positive impact in our communities and for our customers, understanding - and responding to - social and economic issues needs to be a top priority. This means finding new ways of doing business that will help us drive sustainable growth, better social outcomes and ultimately, a stronger economy.
In the past few weeks alone, as we've introduced new initiatives and hit some major milestones, we're seeing this philosophy come to life.
As an example, during National Reconciliation Week this week, the aggregate time our employees have shared with Indigenous Australian community organisations through Jawun Indigenous Corporate Partnerships will surpass 100 years. This achievement shows that our support for Jawun is as strong as ever, having co-founded the program over 15 years ago.
As we look to offer solutions to our investors and customers to help address environmental challenges, we recently issued a new Climate Bond, the funds from which will be invested in renewable energy and green building projects in Australia.
And in partnership with the Clean Energy Finance Corporation, we also launched an Energy Efficiency Financing Program, which will help Australian businesses reduce their energy costs and improve their environmental footprint.
All of this closely followed our recent announcement of the first 100 scholars named through our Westpac Bicentennial Foundation - a $100 million fund to support 100 people every year, forever, with the drive and imagination to shape our nation.
It's these types of initiatives that are helping us to get the balance right between all of our stakeholders, support better social outcomes, and play our part in building a stronger, more sustainable national economy over the long term.
In the face of a changing economic backdrop, we believe that this approach - this embedded focus on sustainable business practices - positions us well as we approach our third century of business in 2017.