Westpac

Assessment year: 2018

Total score 
3 out of 5
Awareness, understanding and intent 
3 out of 5
Commodity 
3 out of 5
Scope 
4 out of 5
Implementation, monitoring and reporting 
2 out of 5

Assessment year: 2017

Total score 
4 out of 5
Awareness, understanding and intent 
4 out of 5
Commodity 
5 out of 5
Scope 
5 out of 5
Implementation, monitoring and reporting 
2 out of 5

Assessment year: 2016

Total score 
4 out of 5
Overall forest policy 
3 out of 5
Policy strength 
4 out of 5
Reporting and transparency 
4 out of 5
Financial institution type 
Asset manager, Bank, Insurance company
HQ 
Australia

Collective commitments

Banking Environment Initiative member
Yes
New York Declaration on Forests signatory
Yes

150 Financial institutions

Investors and lenders need to adopt and implement environmental, social and governance (ESG) criteria that ensure their investments are not funding deforestation. For analysis of how the financial sector is performing click here.

This assessment has been carried out following the assessment methodology developed for the Forest 500 project.

Profile 

Westpac are an Australian-based banking group providing banking and financial services to private, corporate and institutional customers. Their services include retail banking, corporate financing, wealth management, capital markets, investments and insurance. As of 2017, Westpac’s total assets amounted to more than 830 billion AUD with more than 660 billion AUD in gross loans to customers. Westpac are among the top 55 lenders to Forest 500 companies, with more than 4 billion USD of loans in companies across a broad range of forest risk sectors.

 

Other financial institutions

Westpac

Score
3 out of 5

Standard Chartered

Score
3 out of 5

Oversea-Chinese Banking Corporation

Score
2 out of 5

Lloyds Banking Group

Score
2 out of 5

United Overseas Bank

Score
2 out of 5

Toronto-Dominion Bank

Score
1 out of 5

Disclaimer

This assessment has been carried out following the methodology developed for the Forest 500 project, available here. Please see our disclaimer applicable to all information contained within this site and our citation guidance for advice on how to cite data presented here or elsewhere on this site.

Please contact us with any concerns or feedback about this or other assessments included in the Forest 500.