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Video – Westpac’s CEO explains why the Bank is Committed to the UN’s Responsible Banking Principles

Westpac is Australia’s first and oldest banking institutions and is one of the ‘Big Four”. Westpac has over 14 million customers. Westpac has chosen to take one major leap forward to support Climate Action.

Source: Publicly shareable on Youtube

Westpac has officially become a signatory to the United Nations Principles for Responsible Banking. As a founding bank and signatory, Westpac will be one of 130 banks, collectively holding USD 47 trillion in assets, or one third of the global banking sector, to sign up to the Principles.

In the Principles signatories commit to strategically align their business with the goals of the Paris Agreement on Climate Change and the UN Sustainable Development Goals.

According to Mr Harzer, The Principles reinforce Westpac’s commitment to the Paris Climate Agreement and the UN Sustainable Development Goals and sits at the heart of its 2020 Sustainability Strategy according to Westpac’s media release.

Paying.Green aligns banks with the UNEP FI’s Responsible Banking Principles and Climate Action by offsetting their customers’ carbon footprint at cost neutrality to the banks and at no extra costs to their customers.

This is achieved under the UNs Framework Convention on Climate Change, UNFCCC, and in observation of the Paris Climate Agreement and the 17 Sustainable Development Goals

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