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 62 is higher than 99% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Westpac's reported carbon emissions
In 2023, Westpac's total carbon emissions amounted to approximately 140,152,000 kg CO2e, with emissions distributed across various scopes: 6,559,000 kg CO2e (Scope 1), 14,489,000 kg CO2e (Scope 2), and 61,044,000 kg CO2e (Scope 3). This represents a significant reduction from previous years, particularly from 2022, when total emissions were about 152,555,000 kg CO2e. Over the years, Westpac has demonstrated a commitment to reducing its carbon footprint. In 2021, the bank reported total emissions of approximately 97,659,000 kg CO2e, indicating a downward trend in emissions. The bank has disclosed its emissions across all three scopes, showcasing transparency in its climate impact. While Westpac has not set a net-zero target, it has committed to near-term reduction targets as part of its climate strategy. The bank is actively engaged in initiatives to lower its emissions, particularly in the financial sector, where it plays a crucial role in financing sustainable projects. Overall, Westpac's ongoing efforts reflect a proactive approach to addressing climate change and reducing its environmental impact, aligning with industry standards and expectations for financial institutions in Australia.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
| 2012 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 8,587,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 170,500,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 3 | 82,187,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 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 committed to some reduction initiatives 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.
