Highlights

The commitment and effort shown by our employees, customers and partners to improving the social, environmental and economic wellbeing of New Zealand has been significant this year. Here are a few of our highlights.

Reduced emissions by 12%

and maintained our carbon neutral status 
How did we do it?

How did we do it?

We’ve recorded 12% reduction in 2016 and 43% since we started focusing on this area in 2008.

Westpac Emissions

How did we do it?

  • 52% of our customers have turned off their paper statements by choosing to view their statements online with Westpac One.  They can access their statements anytime which minimises their environmental impact by reducing paper use. Click here to find out how to turn off your statements.   
  • Where possible we are digital with our processes.  Through careful management we decreased our electricity use and emissions.  The latter was down by 24% this year. 
  • We recycle and compost what we can which has reduced landfill and where we can we use landfill with gas recovery resulting in a 20% reduction in emissions.
  • Continued our focus to decrease emissions from our air conditioning.

We are also proud to maintain our carbon neutral status in 2016 by offsetting the impact of our remaining emissions by voluntarily purchasing and retiring NZU compliance grade carbon credits.

Westpac Group ranked the

world's most sustainable bank

in the Dow Jones Sustainability Index
Increased lending to the clean technology and environmental services sector

to  $1.29 billion 

up by 10%
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Delivered Managing Your Money (MYM) workshops to

3,575 people

Mana-ā-riki pilot programme enrolled

940 children 

in health clinics, purchased 690 chromebooks and treated 509 cases of Group A Streptococcus (precursor for rheumatic fever)
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Launched a first-in-market app

CashNav

that helps people track, categorise and benchmark their spending
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Fundraised

$1.3 million

for New Zealand's Rescue Helicopters, over and above our 35-year sponsorship
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Won the

Deloitte Top 200 Diversity Award

and two UN WEP White Camellia Awards

50.5%

women in leadership roles throughout Westpac

Challenges

As a major bank in New Zealand, we’re challenged every day with how we approach our economic, social and environmental impacts. We take this responsibility very seriously and take pride in ensuring that we’re doing the very best for our people, communities and surroundings.

Changing 

customer expectations

in a digital world
Evolution of customer expectations

Evolution of customer expectations

Like banks across the world, Westpac NZ is facing one of the biggest ever changes to the banking sector as customers demand greater control over the transactional aspects of their finances.

The evolution of banking is directly linked to customers’ uptake of new technology. Today 70% of New Zealanders own a smartphone and active mobile banking users are growing at 20% per annum. Mobile logins for Westpac NZ have increased 33% in the last year and in the last two years banking applications submitted online have increased by 47%.

Ensuring we are meeting (or ideally exceeding) our customers' requirements for services is fundamental to the sustainability of our business.  Responding to this challenge is key and has been a focus of many new programmes and initiatives introduced this year.  These have used insights from our customers and staff to influence our thinking and improve our processes.

Respectfully managing the impact of 

closing 20 branches     

Changing preferences

Changing preferences

The challenge of meeting customer demand for new ways of banking is leading to a new operating model that includes a reshaping of our branch network – including the closure of 20 branches this year - and trialling different formats and self-service options.

We are very aware of the impact closing branches has on our employees, customers and communities.  

Our challenge is to continue to meet customers’ needs as their changing preferences require us to shift more investment into digital areas. Over the last few months Westpac has worked alongside leaders in communities where branches have closed to ensure we have ATMs in place to meet cash needs and to provide computers or iPads to help with online banking. We have had people in communities as digital educators  to give customers the confidence and knowledge to use digital services.

Responding to how

climate change 

effects us, our customers and New Zealand 
Operating a

sustainable business

that integrates consideration for the social and environmental impacts of all its economic decisions
A new commitment to

exiting unethical investments

in the manufacture of cluster bombs, landmines and nuclear explosive devices in our KiwiSaver fund
Addressing concerns

Addressing concerns

​Ethical investing has been an area of concern for many of our KiwiSaver customers

In response to their feedback, Westpac KiwiSaver committed to removing any underlying exposures, however indirect, to companies that are involved in the manufacture of cluster bombs, landmines or nuclear explosive devices. We agree we should not be investing our customers’ money directly, or indirectly in these stocks. The process is underway and involves exiting from the existing underlying funds, and identification or establishment of funds which don't have exposure to those entities. It’s a process that’s expected to be completed by the end of 2017.

Exploring what Westpac can do

in the future to positively contribute to New Zealand's long term sustainable prosperity 
We are listening

We are listening

Westpac has made good progress towards the targets in its Sustainability Plan which was introduced in 2012 and extends to 2017.

However we are now trying to identify one or two areas where, as a commercial bank, we are able to do things that will make a meaningful and positive difference to New Zealand's prosperity.  We want to know what actions we could take that you would value. 

We don't necessarily have the answers or know what we might end up focusing on but we are listening.  We hope that taking a digital approach to sharing our sustainability progress with you allows the beginning of a dialogue.

Please share your views through the link on the Help shape our tomorrow page.