Care for the planet.
Manaaki te ao.
Manaaki te ao - Care for the planet.
Our aspiration is to lead the transition for Aotearoa to a resilient, zero-carbon economy for the benefit of all Kiwis.
We recognise climate change is a major threat to our environment, economy, and wellbeing. However, it also presents opportunities for new products and services, technologies, and jobs. We believe business and the financial sector has a major role to play.
Our strategy is to address climate change with urgency by managing climate risks in our business, reducing, disclosing and offsetting our own emissions, helping our customers manage their transition to a low carbon economy and reducing the carbon intensity of our lending and investments over time. We want to ensure capital flows to the parts of the economy where it is needed most to facilitate the transition efficiently and effectively.
How will we achieve this?
Measure, reduce and report our footprint and encourage our customers, suppliers and employees to do the same.
Build in climate change risk and opportunity to our lending and investment decisions, and help our customers, suppliers and employees take action on climate change.
Our journey supporting a cleaner, greener Aotearoa.
Our first Climate Risk Report.
Completed a scenario analysis to better understand the Bank’s exposure to climate risk and sea level rise, and disclosing financial risks in line with the recommendations of the Taskforce for Climate-Related Financial Disclosures.
Tracking your carbon footprint with CoGo.
Our partnership with CoGo, the app that makes sustainable and ethical living easy.
Growing Sustainable Finance.
Developed sustainable finance solutions for Contact Energy and Meridian Energy, as part of our commitment to help customers move towards more sustainable business models.
Healthier homes with Westpac Warm Up.
With Westpac Warm Up, we’re helping our customers make improvements to their home that we know are important to them. A healthy and energy-efficient home isn’t just good for the environment - it’s good for you and your family.
First carbon neutral certified bank.
Became the first Toitū carbonzero certified bank in Aotearoa. We’re actively reducing our emissions in line with the Paris Agreement and offsetting the remainder by purchasing native permanent forestry carbon credits.
Investing your funds responsibly.
Reduced the carbon intensity of the equity investment portfolios within the Westpac NZ KiwiSaver Scheme and achieved A+ rating from Principles for Responsible Investment.
No lending to coal mining.
Since 2012 we have reduced our lending to fossil fuel mining and production by 60% and we have stopped lending to coal mining. We’re the only bank in Aotearoa to transparently publish these figures.
Our first green bond.
First bank in Aotearoa to raise funding through the issuance of a green bond.
30% electric vehicles.
Converted 30% of our fleet to electric vehicles or plug-in hybrids. We now have a target of 100% electric vehicles or plug-in hybrids.
Co-chaired the Sustainable Finance Forum.
Designing a road map to help Aotearoa shift the financial system that supports economic, social and environmental outcomes.
Founding member of the Climate Leaders Coalition.
A group of companies committed to measuring and reporting our own greenhouse gas emissions, and working with suppliers to reduce their own emissions.
21% reduction in carbon emissions.
Against our 2008 baseline.
First institution to market (NZETS).
In 2010 we were the first institution to make a market under the Emissions Trading Scheme (NZETS).
Our first carbon emissions reduction target.
Measured our carbon footprint and committed to reduce emissions by 20% by 2012.
United Nations Sustainable Development Goals.
