Westpac named Australia’s most sustainable bank in 2019 Dow Jones Sustainability Indices
Westpac Group has regained its position as the nation’s most sustainable bank, ranked by the global 2019 Dow Jones Sustainability Indices (DJSI) published today. It is the 18th year in a row that Westpac has been ranked amongst the global banking leadership group by the DJSI.
Westpac Group CEO Brian Hartzer said it’s an honour see the Group’s sustainable business practices recognised in such a leading global benchmark.
“To be named Australia’s most sustainable bank is reflective of the priorities we have set ourselves to be better and do better.
“It demonstrates to our customers and communities that we are serious in our actions to help create a more sustainable future, something that is a great source of pride for our people.”
This year, Westpac ranked 9th most sustainable bank globally and achieved a DJSI score of 83. In assessing Westpac's performance, S&P Dow Jones Indices and RobecoSAM rated our performance strongest in the areas of Climate strategy, Environmental reporting, Social reporting, Financial inclusion and Corporate Citizenship and Philanthropy.
“For example, over the past year we’ve increased our lending to climate change solutions to over $10 billion and launched our world first certified Green Tailored Deposit - an innovative solution for customers seeking an independently certified green investment product. We’ve also committed to source 100 per cent of our global electricity consumption from renewable sources by 2025.
“We have continued to align ourselves with the Paris Agreement and the UN Sustainable Development Goals, and report against the recommendations of the Taskforce on Climate-related Disclosures (TCFD).
“Over the last 12 months we have also activated a Customer Vulnerability Action Plan, which has included priority care teams to assist our vulnerable customers affected by circumstances such as dementia, financial abuse, problem gambling and family violence.
“We now have more than 20,000 employees who have been professionally trained around vulnerability to help our customers where they need it most.”
The DJSI RobecoSAM Corporate Sustainability Assessment is one of the most widely accepted global evaluations of how companies manage and perform across social, economic and environmental dimensions and has become the reference point in sustainability investing.
The assessment covers business management practices such as corporate governance, risk management, customer relations, brand management, human resources, corporate community investment, climate change mitigation and environmental performance.