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Westpac Banking Corporation

Westpac Banking Corporation (ASX:WBC) publishes 2012 Annual Review and Sustainability Report

16th November, 2012

The 2012 Westpac Group Annual Review and Sustainability Report www.westpac.com.au/sustainabilityreport sets out the Westpac Group’s sustainability performance, integrating the Group’s financial and non-financial reporting across all of the Group’s brands in Australia, New Zealand and the Pacific.

The Report outlines the progress made against Westpac’s refreshed business and sustainability strategies. It includes details of metrics that evaluate and track performance on key areas including customers, employees, communities and business.

Highlights of the Report include:
  • The strategic priorities transforming the Westpac Group - strength, return, growth and productivity
  • The ten objectives that support the Group’s sustainability strategy, to anticipate and shape the most pressing emerging societal issues where Westpac has the skills and experience to make a meaningful difference for its business, customers and community
  • Momentum in the diversity agenda, achieving the target of 40% of women in leadership roles by the end of 2014, two years ahead of plan
  • One of two banks selected to undertake a trial of Social Benefits Bonds, providing $10 million over five years to support 550 families in need
  • Increased financial education for communities in Australia, New Zealand and Pacific
  • Innovatively meeting customer demands for more flexible IT-enabled banking, such as the introduction of a number of apps across the brands and significant updates to St.George’s mobile banking applications.
The Westpac Group continues to use the Global Reporting Initiative (GRI) G3 framework and the Financial Sector Supplement as its guiding framework, reporting to an A+ level. As in previous years, the report and Group’s underlying policies, systems and processes have been independently tested using the AA1000 Assurance Standard.

For more information or to request a printed copy of the concise Report, contact the Group Sustainability team at corporateresponsibility@westpac.com.au
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