Westpac Named Top 10 World’s Most Sustainable Corporation

Saturday 13th April 2013

GBA Newsletter

Westpac Makes Top 10 List of World's Most Sustainable CorporationsFor the seventh year in a row, Alliance member institution Westpac has earned a spot among the Global 100 Most Sustainable Corporations in the World compiled by Corporate Knights, a Toronto-based independent investment research firm. At the number 10 spot for 2012, Westpac was the highest ranked Australian company. It was also the highest ranked financial institution regardless of country. Among the drivers for Westpac’s 2012 selection were the bank’s commitment to reducing its environmental impact, its increased outreach to sexual and ethnic minorities, and its success in achieving – two years early – ambitious target to have 40 percent of leadership positions filled by women by 2014.Announced each year at the World Economic Forum in Davos, the Global 100 index is widely recognized as one of the leading measures of corporate sustainability. It focuses on outcomes related to leadership diversity, employee retention and compensation, environmental practices, and other key performance indicators. Corporate Knights noted that its Global 100 winners have outperformed the MSCI All Country World Index for the last eight years, a result Corporate Knights believes indicates that their selection criteria around sustainability strongly correlate to operational efficiency, in turn a key driver of shareholder value.