30 May 2022
We’re committed to managing our business in alignment with the Paris Agreement and recognise the need to move towards a net zero emissions economy by 2050. Here’s some of the things we’re doing:
- We’ve launched a car loan offer for eligible electric and hybrid vehicles to help people transition to a greener future.
- Our energy portfolio reached 80% renewable last year and we’ve lent $10.7 billion (TCE) to climate change solutions1.
- We’ve committed to sourcing the equivalent of 100% of our global electricity consumption from renewable energy sources by 2025, and we’re on track to reach 50% by 30 September 2022.
- Westpac Scholars Trust2 is investing in Westpac Scholars to help accelerate innovative solutions to reduce Australia’s environmental impact.
1As at 31 March 2021; TCE is Total Committed Exposure; Climate change solutions is defined in our 2021 Sustainability Appendix.
2Westpac Scholars Trust (ABN 35 600 251 071) is administered by Westpac Scholars Limited (ABN 72 168 847 041) as trustee for the Westpac Scholars Trust. Westpac Scholars Trust is a private charitable trust and neither the Trust nor the Trustee are part of the Westpac Group. Westpac provides administrative support, skilled volunteering, and funding for operational costs of Westpac Scholars Trust.