Westpac
Westpac Banking Corporation, commonly known as Westpac, is a leading financial services provider headquartered in Sydney, Australia. Established in 1817, it is one of the oldest banks in the country and has played a pivotal role in shaping the Australian banking landscape. With a strong presence across major operational regions, including New Zealand and the Pacific Islands, Westpac serves millions of customers through its extensive network of branches and digital platforms. As a key player in the banking industry, Westpac offers a diverse range of products and services, including personal banking, business banking, and wealth management. Its commitment to innovation and customer service sets it apart in a competitive market. Notably, Westpac has received numerous accolades for its sustainability initiatives and digital banking solutions, reinforcing its position as a trusted financial partner in the region.
DitchCarbon Score
How does Westpac's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Westpac's score of 60 is higher than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Westpac's reported carbon emissions
In 2024, Westpac Banking Corporation reported total carbon emissions of approximately 82,092,000 kg CO2e. This figure includes Scope 1 emissions of about 6,262,000 kg CO2e, Scope 2 emissions of approximately 2,303,000 kg CO2e (market-based), and significant Scope 3 emissions amounting to about 57,655,000 kg CO2e. The total emissions for 2023 were approximately 66,220,000 kg CO2e, with Scope 1 emissions at about 6,559,000 kg CO2e, Scope 2 emissions at approximately 14,489,000 kg CO2e (market-based), and Scope 3 emissions reaching about 61,044,000 kg CO2e. Westpac has committed to near-term emissions reduction targets, although it has not yet set a net-zero target. The bank is classified as a financial institution and operates within the banking and diverse financials sector. Its emissions data is sourced directly from Westpac Banking Corporation, with no cascaded data from parent or related organizations. The bank's emissions reduction initiatives are still in the early stages, with a commitment to submit targets to the Science Based Targets initiative (SBTi) by October 2022. As of now, Westpac has not disclosed specific reduction targets or achievements, but it continues to monitor and report its emissions as part of its sustainability efforts.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | - | - | - | - | - | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 |
| Scope 3 | 80,125,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Westpac is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
