- Climate change risks to business and customers
- Need to reduce emissions and prepare communities for climate change impacts
- Closing the gender pay gap
- Increasing cultural diversity in leadership
Westpac New Zealand
Greenhouse gas emissions & sustainability report data
Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2022-10 to 2023-09 | 34.7K tCO2e |
| 2021 | 35.0K tCO2e/year |
| 2020 | 6.0K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced operational emissions by 57% since 2008
- First carbonzero certified bank
- 30% fleet electric vehicles, reduced fleet size
- Stopped lending to coal mining (2020)
- Reduced lending to fossil fuel mining and production by 60% (2012-2020)
- Published first Climate Risk Report aligned with TCFD recommendations (2020)
- Partnered with CoGo sustainable living app (2020)
- First NZ bank to issue a green bond (2019)
- Provided $50m sustainability-linked loan (2020)
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce operational CO2e by 30% (vs. 2019)
- Set a cultural diversity in leadership target by 2021
📅 Medium-term
- Enable $10b in sustainable finance
- 1% pre-tax profit invested in communities
- 25,000 people to participate in Westpac-facilitated financial education workshops
🔭 Long-term
- Net zero operations
- $700m in lending to healthy, affordable and social housing
- Help 15,000 Kiwis who are at risk of financial exploitation and exclusion
- Source 25% ($150m) of spend from local small & medium sized businesses
🌱 ESG Focus Areas
Climate ChangeCommunity DevelopmentFinancial InclusionDiversity and Inclusion