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 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
| 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.
