Westpac Banking Corp
Westpac Banking's Climate Target Data Preview
As of 2024, Westpac Banking has disclosed 15 climate targets aimed at reducing its greenhouse gas (GHG) emissions. These include 5 absolute reduction targets and 10 intensity-based targets, signaling the company's commitment to managing and lowering its carbon footprint over time. The targets span various emissions scopes and time horizons, offering insight into Westpac Banking's climate strategy, ambition level, and alignment with global decarbonization goals.
| Target Type | Scope of Target | Unit | Target | Target Year |
|---|---|---|---|---|
Absolute-based Target | Scope 1 - Total, Scope 2 - Total | Metric Tonnes of CO2 equivalent (mtCO2e) | Copy/Paste is a PRO feature.  a | 2025 |
Absolute-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) | 0000000 | 2030 |
Absolute-based Target | Scope 1 - Total, Scope 2 - Total | Metric Tonnes of CO2 equivalent (mtCO2e) | Copy/Paste is a PRO feature.  a | 2030 |
Absolute-based Target | Scope 3 - Total Upstream (Cat. 1+2+3+4+5+6+7+8) | Metric Tonnes of CO2 equivalent (mtCO2e) | 0000000 | 2030 |
Absolute-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Cement from Unspecified Activities | Copy/Paste is a PRO feature.  b | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Cement Produced/Manufactured | 0000000 | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Milk Produced/Manufactured | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Meat Produced/Manufactured | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Milk Produced/Manufactured | Copy/Paste is a PRO feature. a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Metric Tonne (mt) of Meat Produced/Manufactured | Copy/Paste is a PRO feature. a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Watt-hour (Wh) of Electricity Produced | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Passenger Kilometer | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Square Meter (m2) | Copy/Paste is a PRO feature.  a | 2030 |
Intensity-based Target* | Scope 3 - Investments (Cat. 15) | Metric Tonnes of CO2 equivalent (mtCO2e) per Square Meter (m2) | Copy/Paste is a PRO feature.  a | 2030 |
Verified Sources Behind Westpac Banking’s Climate Targets Data
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Insights into Westpac Banking's Greenhouse Gas Emissions Pathways
As of 2024, Westpac Banking has set greenhouse gas (GHG) emissions reduction targets that cover both its operational emissions (Scope 1 and 2) and value chain emissions (Scope 3), offering a comprehensive view of its total carbon footprint.ab
Does Westpac Banking have a target to reduce the emissions from its operations?
As of 2024, Westpac Banking has set a target to reduce its operational greenhouse gas (GHG) emissions, specifically those from Scope 1 and Scope 2 sources.a
Westpac Banking's most ambitious operational target is to reduce these emissions by 76% by 2030, compared to a baseline of 61,832 Metric Tonnes of CO2 equivalent (mtCO2e) in 2021.a
Westpac Banking has already surpassed its operational emissions reduction target, with 2024 levels falling below the 2030 value, achieving its climate goal ahead of schedule.a
Westpac Banking's Operational (Scope 1+2) Emissions Pathway
Does Westpac Banking have a target to reduce the emissions from its value chain?
As of 2024, Westpac Banking has set a target to reduce its value chain greenhouse gas (GHG) emissions, covering 1 out of the 15 Scope 3 categories defined by the GHG Protocol.ab
Westpac Banking's most ambitious value chain target is to reduce these emissions by 100% by 2030, compared to a baseline of 2,460,000 Metric Tonnes of CO2 equivalent (mtCO2e) in 2021.ab
As of 2023, Westpac Banking is ahead of schedule on its value chain emissions reduction target, having achieved 80.89% of the planned reduction.ab