An update on the progress we've made this year towards our 2020 Strategy
To help our customers financially, to grow a better New Zealand
Focus area |
Challenges |
Our goals | 2020 targets | Progress FY18 |
---|---|---|---|---|
Grow New Zealanders’ financial wellbeing |
Increased economic participation and inclusive prosperity is beneficial to all. One in four New Zealand children live in low-income homes, which can mean lower levels of education, poorer health and higher rates of criminal offending in adulthood. Growing poverty leads to poor social outcomes, which reduces prosperity. |
Grow financial capability Grow financial independence |
1. 20,000 financial education workshop participants |
5,527 |
2. Introduce new products or services to tackle financial exclusion and poverty. |
New target 2018 |
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3. Provide $300m in lending to social & affordable housing |
$163m |
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Take action on climate change |
Climate change is a major threat to our environment, economy and wellbeing. But it also presents opportunities – for new jobs, new technologies and new services. We believe the finance sector has a major role to play. |
Reduce our carbon footprint
Help NZ take action on climate change |
4. Reduce our operational emissions by 25% (2016 baseline) |
14% * |
5. Convert 30% of our car fleet to electric vehicles or PHeV |
22% (69 EVs) |
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6. Provide $2 billion in lending to climate change solutions |
$1.6b |
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Be a responsible business |
New Zealand’s communities are facing challenges and the prosperity of business and society is inextricably linked. New Zealand businesses are not as reflective of the diversity of New Zealand’s society as they should be. Sourcing products and services from multiple geographies (within and outside of New Zealand) can create a number of environmental, social and governance sustainability challenges. |
Support NZ communities |
7. Raise $3 million for Westpac Rescue Choppers |
$1.22m |
Promote an inclusive workforce and society |
8. 50% Women in Leadership |
52.1% |
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Source our goods and services responsibly. |
9. Introduce a Supply Chain Responsible Sourcing Assessment in 100% of Supplier Risk Assessments |
New target 2018 |
* This information contributes to Westpac Group's Sustainability Report, which follows the Global Reporting Initiative (GRI) G4 reporting framework. For full results for 2018 (which includes New Zealand), please see our Westpac Group Sustainability Performance Report.