Westpac is a Founding Member of the GCNA.
Today the Westpac Group has branches and controlled entities throughout Australia, New Zealand and the near Pacific region and maintains offices in key financial centers around the world including London, New York, Hong Kong and Singapore. As at 30 September 2011, The Westpac Group employed approximately 38,000 people (full time equivalent basis) in Australia, New Zealand and around the world, and had global assets of $670 billion. Westpac is ranked in the top 5 listed companies by market capitalisation on the Australian Securities Exchange Limited (ASX). As at 30 September 2011, the Company’s market capitalisation was $61.6 billion. For the financial year to 30 September 2011, The Westpac Group’s reported net profit after income tax was $6,991 million. About 570,000 people and institutions in Australia and overseas are Westpac shareholders.
Westpac believes that the world is changing and that people need to think differently. Westpac also acknowledges that ‘sustainability’ is not a static agenda, rather we know that the issues that impact customers, employees and the community, and the Banks’s response to those issues, will evolve over time. Sustainability is factored into Westpac’s strategy planning and risk management practices. The Westpac Principles for doing business sets out how the Company aims to conduct itself across the business in the areas of governance and ethics, employee practices, customer practices, care for the environment, community involvement and supply chain management. As one of the largest companies in the region Westpac has an opportunity to lead the debate and understanding of these issues and being a UN Global Compact signatory is vital in promoting responsible business practices and shows that we are dedicated to raising corporate responsibility and sustainability performance.
Westpac became a signatory of the UN Global Compact in 2002 and has since engaged in a number of initiatives including: Caring for Climate, Women’s Empowerment Principles, CEO Water Mandate, Human Rights and Environmental Stewardship Working Groups. In 2009 Westpac became involved in the establishment of the Australian Network assuming the role as inaugural Chair in 2010.