Westpac releases 2017 sustainability strategy
(28 February 2013 – Australia) Westpac has pledged an investment of over A$8 billion to its sustainability strategy.
The bank released a statement last week launching its new 2017 sustainability strategy aimed at addressing the most pressing issues in society and the environment today.
Westpac group executive, Christine Parker said the bank wanted to set big targets and "raise awareness of these issues and challenge everybody to do more".
"We have been working towards our sustainability goals over the past 15 years and I’m proud of what we’ve achieved," Parker said. "We want to do more than simply sustain the status quo; we want to create a better future.
"Our new strategic focus is to anticipate and shape the most pressing emerging issues where we have the skills and experience to make a meaningful difference.
"We believe that the world is changing and that people need to think differently. As one of the strongest and largest companies in our region we have an opportunity to lead the debate. However, we want to respond in a way that benefits not only our business, but our customers and the wider community."
The three new areas identified across Westpac include: the changing financial landscape; anticipating the big shifts of demographic and cultural change; and providing economic solutions to environmental challenges.
Westpac’s program highlights include:
Making A$6 billion dollars available for lending and investment to the CleanTech and environmental services sector.
Become carbon neutral over the life of the strategy and continue to drive improvement in Westpac’s environment footprint.
Develop and provide a range of financial advice solutions for all Australians in a way which best suits their needs and circumstances and increase Westpac’s capacity, growing the number of planners.
Provide access to basic and affordable banking to an additional 300,000 Pacific Islanders, with the aspiration that 50 percent of these will be women.
Make A$2 billion available in lending and investment to help people gain access to social and affordable housing.
Championing the financial and broader wellbeing of 40+ women across Westpac and nationally.
Increasing the average retirement age of Westpac employees. Supporting the wellbeing of employees and, in turn, giving them greater choices around extending working life, can increase individual earning potential and retirement savings by close to A$220,000.
Encourage a national discussion on the factors that shape financial wellbeing and encourage Australians to understand and more actively manage their financial wellbeing.
Launch one product or service each year to help retail customers manage their environmental challenges.
Westpac group executive, Christine Parker said the bank wanted to set big targets and "raise awareness of these issues and challenge everybody to do more".
"We have been working towards our sustainability goals over the past 15 years and I’m proud of what we’ve achieved," Parker said. "We want to do more than simply sustain the status quo; we want to create a better future.
"Our new strategic focus is to anticipate and shape the most pressing emerging issues where we have the skills and experience to make a meaningful difference.
"We believe that the world is changing and that people need to think differently. As one of the strongest and largest companies in our region we have an opportunity to lead the debate. However, we want to respond in a way that benefits not only our business, but our customers and the wider community."
The three new areas identified across Westpac include: the changing financial landscape; anticipating the big shifts of demographic and cultural change; and providing economic solutions to environmental challenges.
Westpac’s program highlights include:
Making A$6 billion dollars available for lending and investment to the CleanTech and environmental services sector.
Become carbon neutral over the life of the strategy and continue to drive improvement in Westpac’s environment footprint.
Develop and provide a range of financial advice solutions for all Australians in a way which best suits their needs and circumstances and increase Westpac’s capacity, growing the number of planners.
Provide access to basic and affordable banking to an additional 300,000 Pacific Islanders, with the aspiration that 50 percent of these will be women.
Make A$2 billion available in lending and investment to help people gain access to social and affordable housing.
Championing the financial and broader wellbeing of 40+ women across Westpac and nationally.
Increasing the average retirement age of Westpac employees. Supporting the wellbeing of employees and, in turn, giving them greater choices around extending working life, can increase individual earning potential and retirement savings by close to A$220,000.
Encourage a national discussion on the factors that shape financial wellbeing and encourage Australians to understand and more actively manage their financial wellbeing.
Launch one product or service each year to help retail customers manage their environmental challenges.
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