Westpac Banking Corporation - New Zealand Banking Group Sustainability Profile
Westpac Banking Corporation, commonly referred to as Westpac, is a prominent financial institution headquartered in New Zealand. Established in 1861, Westpac has evolved into a leading player in the banking sector, offering a comprehensive range of services across personal, business, and institutional banking. With a strong presence in major operational regions including Auckland, Wellington, and Christchurch, Westpac is well-positioned to serve the diverse needs of its customers. The bank's core products encompass everyday banking, loans, investment services, and insurance, distinguished by their commitment to customer service and innovative digital solutions. Westpac has achieved notable milestones, including recognition for its sustainability initiatives and community engagement efforts. As a trusted name in New Zealand's banking landscape, Westpac continues to uphold its reputation for reliability and excellence in financial services.
DitchCarbon Score
How does Westpac Banking Corporation - New Zealand Banking Group'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 Banking Corporation - New Zealand Banking Group's score of 76 is higher than 87% 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 Banking Corporation - New Zealand Banking Group currently does not have specific emissions data available for the most recent year, as indicated by the absence of reported figures. The organisation is a current subsidiary of Westpac Banking Corporation, which may influence its climate commitments and emissions reporting. While no direct emissions data is provided, Westpac Banking Corporation has established various climate initiatives that may impact its New Zealand operations. These include commitments to the Science Based Targets initiative (SBTi), the Carbon Disclosure Project (CDP), and the RE100 initiative, all of which are cascaded from the parent organisation. However, specific reduction targets or achievements for the New Zealand Banking Group have not been detailed. In the context of the banking industry, Westpac's commitment to sustainability and climate action aligns with broader trends towards reducing carbon footprints and enhancing environmental responsibility. The absence of specific emissions data highlights the need for ongoing transparency and accountability in climate reporting within the financial sector.
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Access structured emissions data, company-specific emission factors, and source documents
| 2008 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | 10,823,000 | 0,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 000,000,000 | - | - | - | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 188,780,000 | 000,000,000 | 000,000,000 | 000,000,000 | 000,000,000 | - | - | - | - | - | - | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 | 0,000,000 |
| Scope 3 | - | 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 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000,000 | 00,000,000 |
How Carbon Intensive is Westpac Banking Corporation - New Zealand Banking Group's Industry?
How Carbon Intensive is Westpac Banking Corporation - New Zealand Banking Group's Location?
Westpac Banking Corporation - New Zealand Banking Group's Scope 3 Categories Breakdown
Westpac Banking Corporation - New Zealand Banking Group's Scope 3 emissions, which decreased by 100% last year and decreased by approximately 2% since 2011, demonstrating supply chain emissions tracking. The vast majority of their carbon footprint comes from suppliers and value chain emissions, representing the vast majority of total emissions under the GHG Protocol, with "Upstream Transportation & Distribution" representing nearly all of their reported Scope 3 footprint.
Top Scope 3 Categories
Westpac Banking Corporation - New Zealand Banking Group's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Westpac Banking Corporation - New Zealand Banking Group has not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
