Public Profile

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.

62

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.

3

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.

99%

Westpac's reported carbon emissions

In 2023, Westpac's total carbon emissions amounted to approximately 140,152,000 kg CO2e, with Scope 1 emissions at about 6,559,000 kg CO2e, Scope 2 emissions at around 14,489,000 kg CO2e, and Scope 3 emissions reaching approximately 61,044,000 kg CO2e. This reflects a commitment to transparency in their emissions reporting across all three scopes. Over the years, Westpac has demonstrated a gradual reduction in total emissions, decreasing from about 261,273,000 kg CO2e in 2012 to 140,152,000 kg CO2e in 2023. Notably, their Scope 1 and 2 emissions combined have also seen a decline, from approximately 170,500,000 kg CO2e in 2012 to about 57,640,000 kg CO2e in 2023. Westpac has committed to near-term climate targets, although they have not yet established a net-zero target. Their commitment to the Science Based Targets initiative (SBTi) indicates a proactive approach to aligning their emissions reductions with climate science, although specific reduction targets have not been disclosed. As a financial institution based in Australia, Westpac is part of a sector that is increasingly recognising the importance of sustainability and climate action. Their ongoing efforts to monitor and reduce carbon emissions reflect a broader industry trend towards environmental responsibility.

Unlock detailed emissions data

Access structured emissions data, company-specific emission factors, and source documents

2012201620172018201920202021202220232024
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

Very low
Low
Medium
High
Very high
Some industries are more carbon intensive than others. Westpac's primary industry is Financial intermediation services, except insurance and pension funding services (65), which is very low in terms of carbon intensity compared to other industries.

Location emissions intensity

Very low
Low
Medium
High
Very high
The carbon intensity of the energy grid powering a company's primary operations has a strong influence on its overall carbon footprint. Westpac is headquartered in AU, which has a rank of very high, indicating very high grid carbon 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.

Science Based Targets Initiative
Carbon Disclosure Project
The Climate Pledge
UN Global Compact
Carbon Disclosure Project
The Climate Pledge
UN Global Compact

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Where does DitchCarbon data come from?

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