How we do business.

Overview.

For us, corporate responsibility means ensuring that what we do every day meets our financial, social and environmental responsibilities to our customers, communities and people.

We strive to be open, honest, fair and transparent in everything we do.

  • Our Principles for Doing Business sets out how we aim to conduct ourselves, including in the areas of governance and ethics, employee practices and supply chain management.
  • Our operating principles and policies include our Code of Conduct, Whistleblower Protection Policy, and Economic and Trade Sanctions Policy.
  • Our Sustainability Risk Management Framework sets out our approach to managing sustainability risks.

Responsible Banking Principles.

Westpac Group became a signatory to the Principles for Responsible Banking launched at the United Nations General Assembly.

The Principles for Responsible Banking were developed by a core group of 30 founding banks through an innovative global partnership between banks and the UNEP Finance Initiative - a UN-private sector collaboration that includes membership of more than 240 finance institutions around the globe.​​

The six Principles centre around Alignment, Impact, Clients & Customers, Stakeholders, Governance & Target Setting, and Transparency & Accountability. The Principles are supported by an implementation framework that defines clear accountabilities and requires each bank to set, publish and work towards ambitious targets.

View the Responsible Banking Principles here.

Supply chain integrity.

We take great care in selecting suppliers who share our commitment to socially responsible and sustainable business practices. Our Responsible Sourcing Code of Conduct sets out requirements including that our suppliers do not participate in activities that breach employment laws and regulations.

We encourage existing and potential suppliers to:

  • Comply with our ethical, social and environmental standards as set out in our Sustainable Supplier Code.
  • Be aware of, and effectively manage, the sustainability risks relevant to their operations and to consider the impact on their own.
  • Complete our Responsible Sourcing Supplier Assessment if requested.
  • Collaborate and innovate with us to drive best practice and continuous improvement.

Modern slavery.

Many people associate modern slavery with something far removed from their day to day life in New Zealand. However, modern slavery can take many forms and businesses can play a role in helping to address the issue.

Westpac’s 2018 UK Slavery and Human Trafficking Statement outlines our commitment to sustainable business practices and advancing human rights, and the steps we have taken to prevent modern slavery in our business and supply chain.

Human rights.

We are a signatory to a number of international covenants and compacts on human rights, including the UN Global Compact, which stands for, among other things, the elimination of all forms of forced or compulsory labour and the abolition of child labour.

Our approach is further guided by the UN Guiding Principles on Business and Human Rights and is set out in our Human Rights Position Statement and 2020 Action Plan. We have translated the Human Right statement into te reo Māori.

Anti-bribery and corruption.

Westpac is committed to the highest level of ethical behaviour and has zero tolerance for bribery and corruption in any form.

Westpac’s Anti-Bribery and Corruption (AB&C) Compliance Programme includes a global Anti-Bribery & Corruption Policy, with Board endorsement and oversight and clear emphasis that Westpac does not tolerate the giving or receiving of bribes, including the making of facilitation payments. Westpac expects that books and records must be fair and accurate and reasonably detailed. We expect all employees, and other third parties with whom Westpac works, to comply with these principles in the performance of their services for or on behalf of Westpac.

Privacy.

We’re committed to protecting the privacy of our customers’ information. All identity and other personal information provided by our customers is used and managed in line with the Privacy Act 1993.

View our privacy policy here.