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Global Reporting Initiative Indicators

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  • 1. Global Reporting Initiative Indicators 2007 KPI Index - GRI Application Level A+ Westpac's full performance reporting includes the Westpac Annual Report, Westpac Stakeholder Impact Report, Our Principles for doing business and extensive information across our corporate websites: www.westpac.com.au, www.westpac.co.nz and www.btonline.com.au. Westpac's reporting is based on the following reporting frameworks • The Global Reporting Initiative (“G3”) Guidelines • 2007 GRI Financial Services Sector Supplement (Pilot Version 1.0) • Australian-specific performance indicators developed through stakeholder consultation • Australian Government 'Greenhouse Challenge Plus' greenhouse emission reporting • Global Compact Principles; and • ASX Corporate Governance Principles and other regulatory requirements. Westpac has used the GRI G3 Guidelines to communicate progress against the UN Global Compact Principles, following the guidance provided by GRI-UNGC: Making the Connection. The Global Reporting Initiative ('G3') Guidelines Strategy and analysis* GRI Description Location Full/Partial No. comment 1.1 Chairman & CEO's statement 2007 Annual Review Full 1.2 Key impacts, risks and opportunities Full Organisational profile GRI Description Location Full/Partial No. comment 2.1 Name of organisation www.westpac.com.au Full 2.2 Primary brands, products and/or 2007 Annual Review Full services 2.3 Operational structure of the Company Profile Full organisations 2.4 Location of headquarters 2007 Annual Review Full 2.5 Countries of operation 2007 Annual Review Full 2.6 Nature of ownership and legal form 2007 Annual Report Full 2.7 Markets served 2007 Annual Report Full 2.8 Scale of organisation 2007 Annual Report Full 2.9 Significant changes 2007 Annual Report Full 2.10 Awards received Ratings and awards Full Report parameters GRI Description Location Full/Partial No. comment Report profile 3.1 Reporting period 2007 Annual Review Full 3.2 Date of most recent report 2007 Annual Review Full 3.3 Reporting cycle 2007 Annual Review Full 3.4 Contact point on the report 2007 Annual Review Full Report scope and boundary
  • 2. 3.5 Process for determining content Our approach to reporting Full 3.6 Boundary of report Our approach to reporting Full 3.7 Limitations on scope or boundary of Our approach to reporting Full report 3.8 Reporting on other entities Our approach to reporting Full 3.9 Data measurement techniques 2007 Stakeholder Impact Report Partial 3.10 Explanation of re-statements Our approach to Corporate Responsibility 3.11 Significant changes from previous 2007 Stakeholder Impact Report Full report GRI Content Index 3.12 Table on standard disclosures 2007 Stakeholder Impact Report Full Assurance 3.13 Policy & current practice on external Our approach to reporting Full assurance for the report Governance, Commitments and Engagement GRI Description Location Full/Partial No. comment Governance 4.1* Governance structure Corporate governance Full 2007 Annual Report 4.2* Indicate if the Chair of the highest Corporate governance Full governance body is also an Board of Directors executive officer 2007 Annual Report 4.3* Number of members of the highest Corporate governance Full governance body that are Board of Directors independent and/or non-executive 2007 Annual Report members 4.4* Mechanisms for stakeholders and Corporate Governance Full employees to provide 2007 Annual Report recommendations or direction to the highest governance body 4.5* Linkage between compensation and Corporate governance Full organisational performance 2007 Annual Report 4.6* Processes in place for the highest Corporate governance Full governance body to avoid conflicts 2007 Annual Report of interest 4.7* Process for determining Corporate governance Full qualifications and expertise of the 2007 Annual Report highest governance body 4.8* Internally developed mission and Corporate governance Full values statements, codes of conduct 2007 Annual Report and principles relevant to economic, environmental and social performance 4.9* Procedures of the highest Corporate governance Full governance body for overseeing 2007 Annual Report identification and management of economic, social and environmental 4.10* Processes for evaluating the Corporate governance Full performance of the highest 2007 Annual Report governance body, particularly with 2007 Stakeholder Impact Report respect to economic, environmental and social performance Commitments to external initiative 4.11* Explanation of whether and how Our Principles for Doing Business Full precautionary approach or principle 2007 Stakeholder Impact Report is addressed 4.12* Externally developed, economic, Our commitments Full
  • 3. environmental and social charters, principles or other initiatives endorsed 4.13* Significant memberships in Our commitments Full associations and/or advocacy organisations Stakeholder engagement 4.14* List of stakeholders engaged by Community Consultative Council Full organisation 2007 Stakeholder Impact Report 4.15* Basis for identification and selection Stakeholder engagement Full of stakeholders to engage 4.16* Approaches to stakeholder Stakeholder engagement Full engagement, including frequency of engagement by type and stakeholder group 4.17* Key topics and concerns that have Sustainability reports Full been raised through stakeholder 2007 Stakeholder Impact Report engagement and response Economic GRI Description Location Full/Partial No. comment DMA* Management approach, goals and 2007 Annual Report Full performance, policy, contextual Analysts Centre information Economic performance EC1 Direct economic value generated 2007 Stakeholder Impact Report Full and distributed EC2* Financial implications of climate 2007 Stakeholder Impact Report Full change Climate change EC3 Coverage of the organisation's 2007 Annual Report Partial: defined benefit pension plan Superannuation obligations discussed in 2007 Annual Report does not meet all aspects of GRI definition. EC4 Financial assistance received from Unable to government provide breakdown of data. We will be reviewing reporting against this indicator in 2008. Market presence EC5* Standard entry level wage 2007 Stakeholder Impact Report Partial: Supplier compared to local minimum wage spend not broken down by locality. EC6 Policies, practices and proportion of 2007 Stakeholder Impact Report Full spending on locally-based suppliers Suppliers EC7* Procedures for local hiring Employees Full 2007 Stakeholder Impact Report Indirect economic impacts EC8 Description of infrastructure 2007 Stakeholder Impact Report Full investments and services supported
  • 4. that provide public benefit EC9 Indirect economic impacts Environmental, social and governance indicators Full (see below) Environment GRI Description Location Full/Partial No. comment DMA* Management approach, goals and 2007 Stakeholder Impact Report Full performance, policy, contextual Environment policies and governance information Materials EN1* Materials used by weight or volume 2007 Stakeholder Impact Report Full Monitoring environmental performance EN2* Materials used that are recycled 2007 Stakeholder Impact Report Full input materials Monitoring environmental performance Energy EN3* Direct energy consumption 2007 Stakeholder Impact Report Full Monitoring environmental performance EN4* Indirect energy consumption 2007 Stakeholder Impact Report Full Monitoring environmental performance EN5* Energy conservation and efficiency 2007 Stakeholder Impact Report Full improvements Monitoring environmental performance EN6* Energy-efficient or renewable 2007 Stakeholder Impact Report Full energy-based products and services Environmentally responsible products EN7* Reduction in indirect energy 2007 Stakeholder Impact Report Full consumption Monitoring environmental performance Water EN8* Total water withdrawal by source 2007 Stakeholder Impact Report Full Monitoring environmental performance EN9* Water sources significantly affected n/a Not material by withdrawal of water EN10* Water recycled and reused n/a Not material Biodiversity EN11* Land in biodiversity rich habitats Biodiversity Not material EN12* Impact on biodiversity rich areas Biodiversity] Partial: 2007 Stakeholder Impact Report Biodiversity specific investment and lending risk policies will be reviewed in 2008. EN13* Habitats protected or restored Biodiversity Partial EN14* Managing impacts on biodiversity Biodiversity Full 2007 Stakeholder Impact Report EN15* IUCN Red List species n/a Not material Emissions, effluents and waste EB16* Greenhouse gas emissions 2007 Stakeholder Impact Report Full Monitoring environmental performance EN17* Other indirect greenhouse gas 2007 Stakeholder Impact Report Full. In 2008 emissions Monitoring environmental performance we will review our co-operative agreement with the AGO to potentially include
  • 5. emissions from air travel. EN18* Reductions in greenhouse gas 2007 Stakeholder Impact Report Full emissions Monitoring environmental performance EN19* Ozone depleting substances n/a Not material EN20* NO, SO & other air emissions n/a Not material EN21* Total water discharge n/a Not material EN22* Waste by type and destination 2007 Stakeholder Impact Report Full Monitoring environmental performance EN23* Significant spills n/a Not material EN24* Hazardous waste n/a Not material EN25* Biodiversity rich water bodies n/a Not material Products and services EN26* Impact of products and services Responsible products Full 2007 Stakeholder Impact Report EN27* Products sold reclaimed n/a Not material Compliance EN28* Fines and sanctions 2007 Annual Report Full Transport EN29* Impacts from transport 2007 Stakeholder Impact Report Full Overall EN30* Total protection expenditures n/a Not material Social GRI Description Location Full/Partial No. comment Labour and decent work DMA* Management approach, goals, 2007 Stakeholder Impact Report Full performance, policy, contextual Employees information Employment LA1 Workforce by employment type and 2007 Stakeholder Impact Report Full by region LA2* Employee turnover by age and 2007 Stakeholder Impact Report Partial: data gender does not breakdown by gender or age group. LA3 Benefits for full-time employees 2007 Stakeholder Impact Report Partial Workplace relations Labor/management relations LA4* Employees covered by enterprise 2007 Stakeholder Impact Report Partial: data bargaining Workplace relations does not breakdown to percentage of employees. We will review reporting in 2008. LA5* Notice period for operational Redundancy, redeployment and retrenchment Full changes Occupational health and safety LA6* Workforce represented in formal Occupational health and safety Partial: data health and safety committees does not
  • 6. breakdown to percentage of employees represented. LA7* Absentee rates and injuries Occupational health and safety Partial: data 2007 Stakeholder Impact Report does not include complete breakdown on injury and absentee rates. LA8* Education, training, counselling, 2007 Stakeholder Impact Report Full prevention and risk control programs Work/life balance for serious disease LA9* Health and safety in formal trade Workplace relations We will be union agreements reviewing reporting against this indicator in 2008 and via the website. Training and education LA10 Training per employee 2007 Stakeholder Impact Report Partial: data does not breakdown to percentage of employees. We will review reporting in 2008. LA11 Career and skill development 2007 Stakeholder Impact Report Full programs Training, learning and development LA12 Percentage of employees receiving Training, learning and development Partial: data regular performance and career does not development review breakdown to percentage of employees. We will review reporting in 2008. Diversity and opportunity LA13* Governance bodies and diversity Corporate Governance Full 2007 Annual Report LA14* Salary ratio by gender 2007 Stakeholder Impact Report Full Equal opportunity and diversity Human rights GRI Description Location Full/Partial No. comment DMA* Management approach, goals and 2007 Stakeholder Impact Report Full
  • 7. performance, policy, contextual Human rights information Investment and procurement HR1* Investment agreements with human 2007 Stakeholder Impact Report Full rights considerations Institutional lending and investments HR2* Supplier screening on human rights Suppliers Full HR3* Employee training on human rights 2007 Stakeholder Impact Report Partial: data does not breakdown by total hours and percentage of employees. We will review reporting in 2008. Non-discrimination HR4* Incidents of discrimination n/a Partial: we are not currently able to report a detailed data breakdown. We will review reporting in 2008. Freedom of association and collective bargaining HR5* Risk to freedom of association and Freedom of association Full collective bargaining Child labor HR6* Risk of child labour n/a Not material Forced and compulsory labour HR7* Risk of forced or compulsory labour n/a Not material Security practices HR8* Security personnel trained in human n/a Not material rights Indigenous rights HR9* Incidents involving Indigenous 2007 Stakeholder Impact Report We will people Indigenous issues review reporting against this indicator in 2008. Society GRI Description Location Full/Partial No. comment DMA* Management approach, goals and 2007 Stakeholder Impact Report Full performance, policy, contextual Community information Community SO1 Managing impacts on communities 2007 Stakeholder Impact Report Full Community Corruption SO2* Analysis on corruption 2007 Stakeholder Impact Report Partial: data
  • 8. Corporate Governance does not breakdown by business units. We will review reporting against this indicator in 2008. SO3* Employees trained on corruption 2007 Stakeholder Impact Report Partial: data Corporate Governance does not breakdown by number or percentage of employees. We will review reporting against this indicator in 2008. Public policy SO4* Actions in response to corruption 2007 Stakeholder Impact Report Full Corporate Governance SO5* Public policy positions and lobbying 2007 Stakeholder Impact Report Full Corporate Governance SO6* Political donations 2007 Stakeholder Impact Report Full 2007 Annual Report Political donations Anti-competitive behaviour SO7 Anti-competitive behaviour, anti-trust 2007 Stakeholder Impact Report Full and monopoly practices Corporate Governance Compliance SO8 Non-compliance with laws and 2007 Stakeholder Impact Report Full regulations 2007 Annual Report Product responsibility GRI Description Location Full/Partial No. comment DMA* Policy, responsibility, management, 2007 Stakeholder Impact Report Full goals and performance, awards, Our commitments fines & context Customer health and safety PR1* Health and safety in products and n/a Not material services PR2* Non-compliance on health and n/a Not material safety impacts Product and service labelling PR3* Product and service information 2007 Stakeholder Impact Report Full Our commitments PR4* Non-compliance with regulations 2007 Annual Report Partial: data and codes not broken down by incidents of non- compliance. We will review
  • 9. reporting against this indicator in 2008. PR5 Customer satisfaction 2007 Stakeholder Impact Report Full Marketing communications PR6 Laws, standards, and voluntary Our commitments Full codes for marketing PR7 Non-compliance with regulations 2007 Stakeholder Impact Report Full and codes 2007 Annual Report Customer privacy PR8* Complaints on breaches of privacy Our Privacy Policy Partial: data not broken down on numbers of complaints. We will review reporting against this indicator in 2008. PR9 Fines for non-compliance 2007 Annual Report Full Code of Banking Practice Financial Services Sector Supplement: 2007 Pilot Version 1.0 DMA GRI Description Location Full/Partial No. comment D1 Description of policies with specific Our Principles for Doing Business Full environmental and social components applied to business lines D2 Description of procedures for Identifying and mitigating environmental risks Full assessing and screening 2007 Stakeholder Impact Report environmental and social risks in 2007 Annual Report business lines for each policy D3 Description of processes for Institutional lending and investments We will monitoring clients' implementation of review and compliance with environmental 2007 Stakeholder Impact Report reporting and social requirements included in against this agreements or transactions indicator in 2008. D4 Description of process(es) for Institutional lending and investments Full improving staff competency to 2007 Stakeholder Impact Report address environmental and social risks and opportunities D5 Description of interactions with Institutional lending and investments We will clients and other stakeholders 2007 Stakeholder Impact Report review regarding environmental and social reporting risks and opportunities against this indicator in 2008. Performance indicators #1 Coverage and frequency of audits to Westpac reviews assessment and disclosure policies Full assess implementation of 2007 Stakeholder Impact Report environmental and social policies and risk assessment procedures
  • 10. #2 Percentage and number of BT Financial Group Governance Advisory Service We will companies held in the institution's 2007 Stakeholder Impact Report review portfolio with which the reporting reporting organisation has interacted on against this environmental or social issues indicator in 2008. #3 Percentage of assets subject to BT Financial Group Socially Responsible Full positive and negative environmental Investments or social screening 2007 Stakeholder Impact Report #4 Voting polic(ies) applied to 2007 Stakeholder Impact Report Full environmental or social issues for BT Financial Group Corporate Governance shares over which the reporting organisation holds the right to vote shares or advise on voting #5 Quantitative indicator on voting 2007 Stakeholder Impact Report Full practices BT Financial Group Corporate Governance #6 Monetary value of products and Responsible products We will services designed to deliver a Accessible services review specific social benefit for each 2007 Stakeholder Impact Report reporting business line broken down by against this purpose indicator in 2008. #7 Total monetary value of specific Responsible products We will environmental products and services Accessible services review broken down by business lines 2007 Stakeholder Impact Report reporting against this indicator in 2008. #8 Percentage of the portfolio for 2007 Stakeholder Impact Report Full business lines by specific region, Company Profile size (e.g. micro/SME/large) and by sector #9 Access to financial services in low- 2007 Stakeholder Impact Report Partial: data populated or economically Accessible services not broken disadvantaged areas by type of down by access number of outlets in designated areas #10 Initiatives to improve access for Accessible services Full people with disabilities and 2007 Stakeholder Impact Report impairments #11 Actions regarding the design and 2007 Stakeholder Impact Report Full sale of financial products and Accessible services services #12 Initiatives to enhance financial 2007 Stakeholder Impact Report Full literacy by beneficiary type Financial literacy Australian-Specific Indicators* GRI No. Description Location Employees AUS 1 Performance and evaluation AUS2 Non-work aspects career enhancement AUS3 Workloads and staffing levels AUS4 Staff selection & contract Customers AUS5 Low income and vulnerable customers AUS6 Overprovision of credit AUS7 Accessibility
  • 11. AUS8 Customer complaints AUS9 Third world debt Social AUS10 Charitable contributions Key * Reports against Global Compact Principles DMA Disclosure on Management Approach n/a Either not applicable or currently not able to report against this indicator Please refer to the online KPI Index for a full breakdown of our performance against the GRI framework.
  • 12. Lead non financial indicators1 Human capital Strategic objectives: • Improve employee attraction • Improve retention and commitment • Reduce workplace costs Indicator 2004 2005 2006 2007 Latest Available Employee turnover (total)2 17% 16% 17% 17% 19% Employee commitment (% employees 68% 69% 68% 71%1 71%1 reporting a positive score)3 Lost Time Injury Frequency Rate 7.07 5.77 5 4 3 (Injuries per one million hours worked)2 Service capital Strategic objectives: • Improve customer service • Improve retention and loyalty • Increase share of wallet Indicator 2004 2005 2006 2007 Latest Available Customer satisfaction (Aust) – 69% 72% 70% 74% 75% Consumer4 Source: Roy Morgan Customer satisfaction (Aust) – 64% 67% 66% 72% 77% Business4 Source: TNS Complaints resolution rates (Aust)5 – 81% 83% 82% 82% 84% Average (% complaints resolved within 5 days) Customer satisfaction (NZ) – 55% 58% 58% 59% 61% Consumer6 Source: ACNielsen Customer satisfaction (NZ) – 51% 57%2 61% 565% 60% Business6 Source: TNS Social and environmental capital Strategic objectives: • Improve social licence to operate • Improve regulatory and operational costs • Improve operational efficiency • Improve reputational capital Indicator 2004 2005 2006 2007 Latest Available Community contributions (Aust $m) $42m $44m $47m $47m $52m Greenhouse gas emissions (Equivalent 136,400 124,500 111,0006 109,900 109,900 tonnes of CO2 emissions) Paper consumption (Sheets/person) 9,500 10,100 9,600 8,900 8,900 NOTES:
  • 13. 1. The annual Staff Perspectives Survey is conducted in June each year. 2. As at 31 March 2008 3. Figures from annual Staff Perspectives Survey (SPS) conducted in June of each year 4. As at 31 March 2008. Customer satisfaction figures examine the proportion of Westpac's customers (who consider the bank as their main financial institution) that are either 'very satisfied' or 'fairly satisfied' with their overall relationship. Customer satisfaction scores are reported on a 12-month moving average basis. Data is collected by independent providers being Taylor Nelson Sofres (TNS) for business results and Roy Morgan Research (RMR) for consumer results in Australia 5. Latest available information based on six months ended 31 March 2008. 6. As at 31 March 2008. Source: ACNielsen Consumer Finance Monitor Toplines 1st quarter (March 2008). ACNielsen implemented new survey methodology in the December 2007 quarter and comparatives for 2004–2006 are unable to be restated. ACNielsen performed a parallel survey at 30 September 2007 under the new methodology to provide indicative comparatives. The result for this survey was 47%.