Westpac is one of the top sustainable companies in Australia that produce a standalone social report. The company is aiming to remain sustainability by anticipating and actively making improvement over social issues as a way creating value to the company’s business. This report examines the sustainability practices of Westpac recently with the compliance sustainability report with the Global reporting Initiatives. The results show that Westpac is doing well with their performance, however, it wasn’t as good as the year of 2014 since there were areas that needed improvement.
Westpact continued to growth throughout the pacific region with strong balance sheet, remaining high quality and performance from their franchises. Besides that, Westpac …show more content…
Besides that, Westpac has established sustainability strategy initiatives in which includes UN global compact, principles of responsible investing and lending, as well as human right principles with new indicators that are created to make significant improvement in these fields that related to financial sector under GRI in Australia. The GRI framework was applied for sustainability reporting based on its guidelines in order to meet the codes, laws, norms, performance standard and voluntary initiatives in which most of the bank used as their benchmarking. The process of applying the framework shows the organization ability to meet the sustainability development expectation, and also compare different performances from other organization Westpac’s core strategy and sustainability strategy is developed from its crisis and constantly making improvement as the result. By knowing the important of focusing on all aspects of the industry including environment, economic, social and financial aspects, they have developed a sustainability report disclose related information using risk management framework to assess and manage the possible risk process. Westpac actively embraced the environmental risk management and climate change issues in order to create better community engagement (Annual Report Westpac Group 2015). According to Westpac …show more content…
However, the actual actions and indicators performance were not mentioned in the report regarding the term of G4-LA2 for parental leave by gender. Westpac has stated their aiming of improvement as the internal benchmark on gender equity in the term of growing talented women in workforce across different department in the organization with a different program to support women leaders are created. The positive result from early programs shown that participants were promoted to new and suitable roles after participated the programs. With the strong support from the public toward gender equality, Westpac has collaborated with Fairfax to run the Westpac Women of Influence Awards to promote gender equality. Besides that, reducing pay gap based on gender is another important issue which Westpac has designed a strategy to ensure fairly pay for all employees based on skills, performance, and experience. There is an improvement in women leadership from 44% last year to 46% this year, which bring Westpac closer to the target of reaching 50% by the year of 2017. Unfortunately, their actions seem to not fully addressed this issues just yet. Westpac’s 2015 Women and Retirement Readiness Report found that there was a gap of $145,000
Westpact continued to growth throughout the pacific region with strong balance sheet, remaining high quality and performance from their franchises. Besides that, Westpac …show more content…
Besides that, Westpac has established sustainability strategy initiatives in which includes UN global compact, principles of responsible investing and lending, as well as human right principles with new indicators that are created to make significant improvement in these fields that related to financial sector under GRI in Australia. The GRI framework was applied for sustainability reporting based on its guidelines in order to meet the codes, laws, norms, performance standard and voluntary initiatives in which most of the bank used as their benchmarking. The process of applying the framework shows the organization ability to meet the sustainability development expectation, and also compare different performances from other organization Westpac’s core strategy and sustainability strategy is developed from its crisis and constantly making improvement as the result. By knowing the important of focusing on all aspects of the industry including environment, economic, social and financial aspects, they have developed a sustainability report disclose related information using risk management framework to assess and manage the possible risk process. Westpac actively embraced the environmental risk management and climate change issues in order to create better community engagement (Annual Report Westpac Group 2015). According to Westpac …show more content…
However, the actual actions and indicators performance were not mentioned in the report regarding the term of G4-LA2 for parental leave by gender. Westpac has stated their aiming of improvement as the internal benchmark on gender equity in the term of growing talented women in workforce across different department in the organization with a different program to support women leaders are created. The positive result from early programs shown that participants were promoted to new and suitable roles after participated the programs. With the strong support from the public toward gender equality, Westpac has collaborated with Fairfax to run the Westpac Women of Influence Awards to promote gender equality. Besides that, reducing pay gap based on gender is another important issue which Westpac has designed a strategy to ensure fairly pay for all employees based on skills, performance, and experience. There is an improvement in women leadership from 44% last year to 46% this year, which bring Westpac closer to the target of reaching 50% by the year of 2017. Unfortunately, their actions seem to not fully addressed this issues just yet. Westpac’s 2015 Women and Retirement Readiness Report found that there was a gap of $145,000