Elliott took investors through how the bank is thinking about, and responding to, external social and environmental challenges, including a notable spike in gender diversity at the leadership level and the work being done to rebuild the bank’s reputation as a fair and responsible business.
"It's a really strong improvement and we're pretty proud of that. We've got to continue that trajectory.”
“I think if you want to be in the business of long term sustainable profitability or shareholder value creation for the long term you have to be mindful of the impact that you're having on other parts of the community,” he said.
“I think people sometimes get confused that we do sustainability at the expense of profits. I don't see it as that. I see them as completely coherently aligned.”
Public disclosure of the bank’s performance against measurable sustainability targets is, according to Elliott, an important part of holding itself to account with all stakeholders.
Speaking to bluenotes on video, Elliott said the bank was pleased with the bank’s efforts in some areas, but acknowledged it is still grappling with more complicated issues. Credit cards used for gambling is one example.