ReportAlert.info - Westpac Banking Corporation (ASX:WBC) publishes 2011 Annual Review and Sustainability Report

(3BL Media / theCSRfeed) November 15, 2011 - The 2011 Annual Review and Sustainability Report, http://www.reportalert.info/ra/profiles/Westpac/2011/?ID=42674,sets out the Westpac Group’s sustainability performance, integrating the Group’s financial and non-financial reporting.

The report discusses the material issues for the year, including interest rates and fees, customer service, regulation and future growth, and reports progress against sustainability objectives.

Highlights of the report include:
- Discussion of the Group’s new strategic approach to sustainability.
- Working across the Group’s suite of brands to develop deeper relationships with customers including service efficiency initiatives and product development.
-The launch of the Davidson Institute, Australia’s First School of Money.
- Progress on diversity and flexibility, including the improved representation of women in senior leadership roles to 37.5%, indicating we are on track to achieve the target of 40% by 2014.
- Support to communities impacted by natural disasters in New Zealand & Australia.
- The continued rollout of the innovative Organisational Mentoring program.
- $20 million donation to the Westpac Foundation.
- An Environmental Social and Governance (ESG) Risk Framework has been developed and approved in New Zealand.
- Working closely with the Australian Government and industry on major reform programs around superannuation and financial advice.

The report includes information across all of the Group’s brands in Australia, New Zealand and the Pacific.

The Westpac Group continues to use the Global Reporting Initiative (GRI) G3 framework and the Financial Sector Supplement as its guiding framework, reporting to an A+ level. As in previous years, both the report and Group’s underlying policies, systems and processes have been independently tested using the AA1000 Assurance Standard.

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