Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Westpac outperforms Australian and UK competitors

Westpac outperforms Australian and UK competitors in corporate responsibility

Westpac has maintained its top ranking in the second Australian Corporate Responsibility Index while also outperforming 133 companies in the UK.

The result recognises Westpac’s corporate responsibility processes and reporting in both Australia and New Zealand. In 2004 Westpac produced its first – annual – Social Impact Report specific to New Zealand, How We Measure Up.

The Index, introduced to Australia by the St James Ethics Centre in Sydney, the Sydney Morning Herald and The Age newspapers and Ernst & Young, is an international benchmarking survey measuring corporate responsibility. It is voluntary and based on self-assessment, but all submissions are validated by Ernst & Young’s Environment and Sustainability Services team to ensure claims are supported by substantiating evidence.

The Index involves a comparison of systems and performances of different companies in and across specific sectors. Its primary focus areas are strategy, integration, management practice and performance and impact. The Index was originally established three years ago by over 80 businesses working with UK charity Business in the Community (BITC).

Executive Director of St James Ethics Centre Dr Simon Longstaff said that Westpac’s top scores in both Australia and the United Kingdom demonstrated that Australian companies could compete in this area of activity with the world’s best, including those driven to perform by a challenging regulatory environment.

Westpac Group Chief Executive Officer, Dr David Morgan, said that for Westpac corporate responsibility was about behaving in a responsible, ethical and trustworthy fashion. “Topping the Index in both Australia and the UK is a tribute to the work of the bank’s people in delivering on its sustainability agenda,” Dr Morgan said.

Westpac New Zealand CEO Ann Sherry said that increasingly people wanted to deal with a bank that reflected their own values. “Corporate responsibility recognises that more and more consumers are linking their consumption choices to their perceptions of how a corporate behaves. It is pleasing to see this independent confirmation that Westpac takes very seriously the need to meet more than just financial expectations.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech