Westpac is world’s most sustainable bank

by Krizzel Canlas12 Sep 2017

Westpac Group has ranked as the most sustainable bank globally in the 2017 Dow Jones Sustainability Indices (DJSI) Review, retaining its position for four years in a row.

According to Westpac, this is the 10th time the bank achieved the global banking sector leadership position and the 16th year in a row that it has been recognised as a global banking leader.

“Some people think sustainability is purely about environmental initiatives, but it’s also about addressing social and economic issues,” Westpac New Zealand chief executive David McLean said.

“So, while we’re doing things like reducing our carbon footprint and increasing lending to clean technology businesses, we’re also focused on improving New Zealanders’ lives through initiatives like our ‘Managing your Money’ community workshops.”

Westpac attained a 94% DJSI with S&P Dow Jones Indices and RobecoSAM rated the bank’s performance strongest in corporate citizenship, business risks and opportunities, environmental and social reporting, climate strategy, anti-crime policy, materiality and labour practices.

The DJSI RobecoSAM corporate sustainability assessment is the most widely accepted global evaluation of how companies manage and perform across social, economic and environmental dimensions and has become the reference point in sustainability investing.

It assesses business management practices such as corporate governance, risk management, customer relations, human resources, corporate community investment, climate change mitigation and environmental performance, Westpac said.

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