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Westpac Banking Corporation, commonly known as Westpac, is a leading financial institution headquartered in Sydney, Australia. Established in 1817, it is one of the oldest banks in the country and has played a pivotal role in the development of the Australian financial landscape. Westpac primarily operates in the financial intermediation services sector, excluding insurance and pension funding, and serves a diverse clientele across Australia and New Zealand.
The bank offers a comprehensive range of core products and services, including personal banking, business banking, and wealth management solutions. Westpac is renowned for its commitment to innovation and customer service, distinguishing itself with unique offerings such as tailored financial advice and digital banking solutions. As a major player in the industry, Westpac has consistently achieved significant milestones, including being one of the largest banks in Australia by market capitalisation, reflecting its strong market position and reputation for reliability.
88
DitchCarbon score
+51 vs industry average
Westpac’s score of 88 is higher than 92% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Very Low
Financial Intermediation is among the least carbon-intensive industries
Industry performance
0.096
20182025
The Financial Intermediation industry has reduced its overall emissions by 33% since 2018
Emissions trajectory 2020 – 2028
202020212022202320242025202620272028
Reported emissions
Scope 1
•••kg CO₂e
Scope 2
•••kg CO₂e
Scope 3
•••kg CO₂e
Total reported
•••kg CO₂e
Scope 3 accounts for ••• of total emissions.
Westpac's reported carbon emissions
Westpac, an Australian financial intermediation services company, reported total carbon emissions of approximately 131.4 million kg CO2e in 2025. This includes about 4.7 million kg CO2e from Scope 1 emissions, approximately 2.0 million kg CO2e from Scope 2 market-based emissions, and around 123.0 million kg CO2e from Scope 3 emissions.
For 2024, Westpac's total carbon emissions were approximately 136.3 million kg CO2e, with Scope 1 emissions at about 6.3 million kg CO2e, Scope 2 market-based emissions at roughly 2.3 million kg CO2e, and Scope 3 emissions at approximately 127.7 million kg CO2e.
The company has set several climate commitments. It aims to reduce its Scope 1 and 2 absolute emissions by 64% by 2025 from a 2021 baseline, and by 76% by 2030. Additionally, Westpac is committed to reducing its upstream Scope 3 absolute emissions by 50% by 2030, also from a 2021 baseline. Westpac Banking Corporation has committed to near-term targets with the Science Based Targets initiative (SBTi).
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Westpac’s Climate Goals (2030 & 2050)
2025
Near-zero scope 1 & 2
Target to achieve near-zero emissions for direct operations and purchased energy
On track94%
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
At risk48%
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
Behind target22%
Showing SBTi-validated targets only. Sign up or sign in to see all disclosed climate targets.
Scope 3 top emissions categories
7 of 15 categories disclosedSee all scope 3 categories
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Climate initiatives
Science Based Targets Initiative
See details
Active
Carbon Disclosure Project
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Active
The Climate Pledge
See details
Not active
UN Global Compact Climate Champions initiative
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Active
RE 100
2025 targetSee details
Active
Climate Action 100
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Not active
Emissions comparison with industry peers
View similar organisationsCompanyCountryIndustryLast updatedScoreDetails
Westpac18 days ago
88
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Frequently asked questions
Common questions about Westpac’s sustainability data and climate commitments
In 2025, Westpac reported total carbon emissions of approximately 131.4 million kg CO2e. The largest portion, around 123.0 million kg CO2e, originates from Scope 3 emissions, reflecting the significant impact of its value chain. Scope 1 emissions accounted for about 4.7 million kg CO2e, and Scope 2 market-based emissions were approximately 2.0 million kg CO2e. This breakdown highlights the critical role of managing indirect emissions within Westpac's financial intermediation services operations.
Data year: 2025
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