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 60 is higher than 79% 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's reported carbon emissions
In 2024, Westpac Banking Corporation reported total carbon emissions of approximately 82,092,000 kg CO2e. This figure includes 6,262,000 kg CO2e from Scope 1 emissions, 2,303,000 kg CO2e from Scope 2 emissions (market-based), and 57,655,000 kg CO2e from Scope 3 emissions. In 2023, the total emissions were about 66,220,000 kg CO2e, with Scope 1 emissions at 6,559,000 kg CO2e, Scope 2 emissions (market-based) at 14,489,000 kg CO2e, and Scope 3 emissions at 61,044,000 kg CO2e. Westpac has committed to near-term climate targets, although it has not yet set a net-zero target. The bank is classified as a financial institution and operates within the banking and diverse financials sector. Its near-term target status is marked as "Committed," with a deadline for submission of targets set for October 2022. The emissions data is not cascaded from any parent organization, and all reported figures are sourced directly from Westpac Banking Corporation. The bank continues to focus on reducing its carbon footprint while enhancing its sustainability initiatives.
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| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|
| Scope 1 | - | - | - | - | - | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | - | - | - | - | - | 00,000,000 | 00,000,000 | 0,000,000 | 00,000,000 |
| Scope 3 | 80,125,000 | 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 participating in some of the initiatives that 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.
