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Select an assessment year:

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  • Overall approach
    10/16
    • Overarching commitment on deforestation
      10/14
      Deforestation commitment
      Zero net deforestation
      10/14
      "We will [...] Support customers in the agribusiness sectors that [...]Are committed to net zero deforestation by 2020". "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020"
      Open source document Open source document
    • Company must have anti-corruption policy
      0/2
  • Commodity score
    34/64
    • Beef & Leather
      26/64
      • Commitment Strength
        21/42
        • Commodity-specific financing policy
          9.6/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Zero net deforestation
            "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020i . This commits us to:  using all reasonable endeavours to work with Consumer Goods Forum supply chains to explore how we can finance the growth of the markets producing palm oil, timber products, soy, and beef to zero net deforestation standards"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020i . This commits us to:  using all reasonable endeavours to work with Consumer Goods Forum supply chains to explore how we can finance the growth of the markets producing palm oil, timber products, soy, and beef to zero net deforestation standards"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020i . This commits us to:  using all reasonable endeavours to work with Consumer Goods Forum supply chains to explore how we can finance the growth of the markets producing palm oil, timber products, soy, and beef to zero net deforestation standards"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020i . This commits us to:  using all reasonable endeavours to work with Consumer Goods Forum supply chains to explore how we can finance the growth of the markets producing palm oil, timber products, soy, and beef to zero net deforestation standards"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Westpac is a member of the Banking Environment Initiative and a signatory to the Soft Commodities Compact, aligning us with the Consumer Goods Forum’s 2010 resolution to help achieve zero net deforestation by 2020i . This commits us to:  using all reasonable endeavours to work with Consumer Goods Forum supply chains to explore how we can finance the growth of the markets producing palm oil, timber products, soy, and beef to zero net deforestation standards"
            Open source document
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
        • Companies must protect priority forests or globally important landscapes
          7.4/9.6
          • Commitment details
            All high priority landscapes - Encouraged
            6/8
            Commitment details
            All high priority landscapes - Encouraged
            6/8
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
        • Assurance mechanism to ensure compliance
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for "land grabbing" [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Palm oil
      37/64
      • Commitment Strength
        31/42
        • Commodity-specific financing policy
          9.4/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Deforestation-free
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timelinexi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO).
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
        • Companies must protect priority forests or globally important landscapes
          7.4/9.6
          • Commitment details
            All high priority landscapes - Encouraged
            6/8
            Commitment details
            All high priority landscapes - Encouraged
            6/8
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
        • Assurance mechanism to ensure compliance
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Verification method: Certification Scheme

            Certification scheme (if applicable): RSPO
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: FI has specific deadline for all companies to comply
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "Palm oil o growers, producers and processors must support Roundtable for Sustainable Palm Oil (RSPO) standards and demonstrate credible progress towards full certification within a satisfactory timeline xi, and commit to No Deforestation, No Peat and No Exploitation (NDPE) policies. o for manufacturers, traders or retailers we encourage RSPO membership and procurement of Certified Sustainable Palm Oil (CSPO)."
            Open source document
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Soy
      37/64
      • Commitment Strength
        32/42
        • Commodity-specific financing policy
          9.6/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Deforestation-free
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographiesxii must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographiesxii must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographiesxii must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographiesxii must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
        • Companies must protect priority forests or globally important landscapes
          7.4/9.6
          • Commitment details
            All high priority landscapes - Encouraged
            6/8
            Commitment details
            All high priority landscapes - Encouraged
            6/8
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
        • Assurance mechanism to ensure compliance
          5.6/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Verification method: Certification Scheme

            Certification scheme (if applicable): RTRS
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline [...] for manufacturers, traders or retailers of soy products, we encourage procurement of certified inputs."
            Open source document
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Companies set own deadline but must be timebound
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] growers, producers and processors in higher risk geographies [...] must support the Roundtable for Sustainable Soy (RTRS) and demonstrate credible progress towards full certification within a satisfactory timeline"
            Open source document
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
    • Timber, Pulp & Paper
      37/64
      • Commitment Strength
        32/42
        • Commodity-specific financing policy
          9.6/9.6
          • Commitment details
            Yes
            8/8
            Commitment details
            Yes
            8/8
            Type of policy: Zero net deforestation
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
        • Companies must be legally operated
          3.6/5.6
          • Commitment details
            Own operations - Require
            2/4
            Commitment details
            Own operations - Require
            2/4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "Westpac expects that its customers will operate in accordance with relevant global, regional and national laws and regulations governing sustainability performance dimensions."
            Open source document
        • Companies must protect priority forests or globally important landscapes
          7.4/9.6
          • Commitment details
            All high priority landscapes - Encouraged
            6/8
            Commitment details
            All high priority landscapes - Encouraged
            6/8
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "We seek to develop relationships with customers that: • Operate in ways that avoid or minimise environmental and social impacts; • Avoid operations in UNESCO World Heritage Sites, Ramsar Wetlands vi and Critical Natural Habitats vii (unless legally permitted and consistent with management plans for the area) • Avoid adverse impacts on High Conservation Value forests (use High Carbon Stock Approach assessments for forests where appropriate)"
            Open source document
        • Assurance mechanism to ensure compliance
          5.6/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Certification scheme (if applicable): FSC

            Verification method: Certification Scheme
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline. for manufacturers, traders or retailers of timber products, we encourage procurement of certified inputs."
            Open source document
        • Companies must have a grievance mechanism
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Commitments must be timebound
          5.4/5.6
          • Commitment details
            Require
            4/4
            Commitment details
            Require
            4/4
            Type of policy: Companies set own deadline but must be timebound
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline."
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline."
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline."
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline."
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors
            0.2/0.4
            "For specific industries we seek to develop relationships with customers that demonstrate commitment to the following [...] Timber (including that used for the production of pulp and paper products): growers (forest managers) and processors must support the Forest Stewardship Council (FSC) or a national scheme endorsed under the Programme for the Endorsement of Forest Certification (PEFC); and demonstrate credible progress towards full certification within a satisfactory timeline."
            Open source document
      • Social Considerations
        6/22
        • Company must ensure Free, Prior and Informed Consent
          5.6/5.6
          • Commitment details
            Yes - Require
            4/4
            Commitment details
            Yes - Require
            4/4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all operations and financing
            All
            0.4/0.4
            Policy applies to all operations and financing
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all deals
            All
            0.4/0.4
            Policy applies to all deals
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all companies
            All
            0.4/0.4
            Policy applies to all companies
            All
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
          • Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            Policy applies to all stages of the supply chain
            Producers; Processors; Traders; Manufacturers; Retailers
            0.4/0.4
            "We seek to develop relationships with agribusiness customers that do not: [...] violate the rights of local communities, such as the principle of free, prior, and informed consent. This includes a commitment to zero tolerance for ‘land grabbing’ [...] We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. "
            Open source document
        • Company must respect labour rights
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Company must address gender equality issues
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
        • Companies must encourage the inclusion of small-scale farmers
          0/5.6
          • Commitment details
            No
            0/4
          • Policy applies to all operations and financing
            No
            0/0.4
          • Policy applies to all deals
            No
            0/0.4
          • Policy applies to all companies
            No
            0/0.4
          • Policy applies to all stages of the supply chain
            None
            0/0.4
  • Reporting & Implementation
    8/20
    • Policy is reviewed and updated
      3/5
      Policy review
      Commit to update policy - Less than annual
      3/5
      Position statement includes the 2020 goal on deforestation - "We launched our first Climate Change Position Statement in 2008; this marks our third update of that statement, and we will continue to strengthen our approach as science, technology and policy develops"
      Open source document
    • Companies must disclose subsidiaries in commodity supply chains
      0/5
    • Monitoring and non-compliance process
      3/5
      Monitoring compliance
      Yes - General non-compliance statement
      3/5
      "We will not knowingly finance agribusiness customers that are not in compliance with these standards. Where a customer group also operates in other sectors, we will not knowingly provide finance, directly in support of its companies that are not compliant with this position statement. We require all of our agribusiness customers to be in compliance with local, national, and international ratified law and regulations including industry minimum standards. For all agricultural commodities sectors, we will follow up on credible allegations that customers do not meet our standards and take action as appropriate."
      Open source document
    • Reporting on implementation of the policy
      3/5
      Reporting
      Yes - Less than Annually or ad hoc
      3/5
      Numbers: 100% FSC for all four timber customers, and 74%, 57%, 78% for palm customers.
      Westpac report the proportion of each of their palm and timber customers' which are certified by RSPO or FSC.
      Open source document
  • Commitment strength
    29/42
    Avg. score
  • Social considerations
    6/22
    Avg. score

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.  

HQ
HQ 
Australia
Financial institution type
Financial institution type 
Asset management, Bank, Insurance Company

How we assess the Forest 500

Investors and lenders need to adopt and implement strong deforestation policies that ensure their investments are not funding the destruction of forests.

All assessments use policies published on financial institution websites, some links may have changed or been removed since the time of assessment.

Full finance sector performance data Forest 500 assessment methodology

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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 terms and conditions for use of data presented on this site.

All assessments use policies published on company and financial institution websites, and while we endeavor to keep them updated some links may have changed or been removed since the time of assessment.

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