We have a clear sense of purpose at ANZ which guides our decisions about who we bank, how we behave and what we care about most.
"Throughout, we’ve tried to make fair and appropriate decisions, seeking to balance the needs of all stakeholders.”
We’ve done a lot of work over the last few years to embed our purpose and build a values-driven culture and ensuring we have the capacity to deliver it.
These foundations have meant the bank is in a strong position to meet the current challenges in a fair, ethical and sensitive way for customers, employees and the community while still delivering decent returns to shareholders. We believe those interests are aligned and not trade-offs.
While we’ve had to adapt our business in the current environment, we haven’t lost focus on our strategy and our priorities of:
- improving the availability of suitable and affordable housing options for all Australians and New Zealanders;
- supporting household, business and financial practices that improve environmental sustainability; and on
- improving financial wellbeing, helping our customers, employees and the community make the most of their money throughout their lives.
Fundamental to ANZ’s approach is a commitment to fair and responsible banking, maintaining high standards of conduct, and keeping pace with the rising expectations of our customers, employees and the community.
We’re making good progress on our Environmental, Social and Governance (ESG) targets this year with over 80 per cent on track. While progress in some areas has been less than we would have aspired to, it’s important the bank sets ambitious goals. Overall, we’re making good progress but we know we always can do more.
The management of climate-related risks and opportunities clearly remains a priority issue for the bank. Our own footprint is small but not irrelevant and we have made progress. More importantly we can influence the impacts of our customers.
Our target to fund and facilitate at least $A50 billion in sustainable financing by 2025 is on track and progressing well such as the green loan provided to Walker Corporation for the development of Parramatta Square – a great amenity for the people of New South Wales – and the first labelled green loan executed by a private company in Australia, which means proceeds are allocated towards qualifying green projects.
ANZ also has a target to encourage and support 100 of our largest emitting customers in the energy, transport, buildings and food, beverage and agricultural sectors in their public commitments to transition to a net zero economy. We have already reviewed the carbon disclosures of more than 90 of these customers and engaged with more than 60 to support the strengthening of their plans.
We also know we have a role to play as a borrower, and our Group Treasury team is now systematically including the issuance of Sustainable Development Goals – or SDG – bonds into our annual capital and funding needs.