Westpac Banking Corp
Westpac Banking's GHG Emissions Data Preview
In 2024, Westpac Banking completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
However, Westpac Banking has not published a category-level breakdown of its Scope 3 emissions, limiting visibility into specific value chain sources.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | 0000000 |
aVerified Sources Behind Westpac Banking’s Greenhouse Gas (GHG) Emissions Data
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Insights into Westpac Banking's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions of Westpac Banking amounted to 57,640 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2). a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Westpac Banking decreased by 14.02%, showing that the company has made progress in taking action to reduce the climate impact of its operations. a
Westpac Banking's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Westpac Banking's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Westpac Banking were 6,262 metric tons of CO₂ equivalent (tCO₂e). a
Has Westpac Banking reduced its Scope 1 emissions over time?
Since 2021, Westpac Banking's Scope 1 emissions have decreased by 20.24%, reflecting a declining long-term trend in Scope 1 emissions over time. a b
Compared to the previous year (2023), Westpac Banking's Scope 1 emissions decreased by 4.53%, highlighting the company's efforts to lower direct emissions from assets it owns or controls. a
What are Westpac Banking's Scope 2 emissions?
In 2024, Westpac Banking reported Scope 2 greenhouse gas (GHG) emissions of 2,303 tCO₂e using the market-based method and 51,378 tCO₂e using the location-based method. a
Has Westpac Banking reduced its Scope 2 emissions over time?
Compared to the previous year (2023), Westpac Banking's Scope 2 emissions (Location-Based) fell by 15.05% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption. a
What methodology does Westpac Banking use for Scope 2 reporting?
In 2024, Westpac Banking reported its Scope 2 emissions using the market-based method and using the location-based method. a
Westpac Banking's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
Insights into Westpac Banking's Value Chain Emissions
In 2024, Westpac Banking reported 57,655 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain. a
The 2024 disclosure of Westpac Banking includes a breakdown across 0 of the 15 Scope 3 categories defined by the GHG Protocol, down from 1 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions. a
Westpac Banking's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Westpac Banking's Scope 3 emissions?
In 2024, Westpac Banking reported total Scope 3 emissions of 57,655 metric tons of CO₂ equivalent (tCO₂e). a
Has Westpac Banking reduced its Scope 3 emissions over time?
Since 2021, Westpac Banking's Scope 3 emissions have decreased by 19.63%, reflecting a declining long-term trend in Scope 3 emissions over time. a b
Compared to the previous year (2023), Westpac Banking's Scope 3 emissions decreased by 99.86%, highlighting the company's efforts to lower indirect emissions from its value chain. a
Insights into Westpac Banking’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Westpac Banking reported Scope 1 greenhouse gas (GHG) emissions of 6,262 tCO₂e and total revenues of USD 14,924 millions. This translates into an emissions intensity of 0.42 tCO₂e per millions USD. a
Westpac Banking's Scope 1 Emissions Intensity Compared to Peers
How does Westpac Banking's GHG emissions intensity compare to its peers?
In 2024, Westpac Banking reported a Scope 1 emissions intensity of 0.42 tCO₂e per millions USD. Compared to the peer group median of 0.27 , this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors. a
Where does Westpac Banking rank on GHG emissions intensity within its industry?
In 2024, Westpac Banking ranked 15 out of 21 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD). a
Westpac Banking is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency. a
Insights into Westpac Banking's Total Carbon Footprint
In 2024, Westpac Banking reported a total carbon footprint of 115,295 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 99.71% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output. a
The largest contributor to Westpac Banking's total carbon footprint was Scope 3 emissions, accounting for 50.01% of the company's total carbon footprint, followed by Scope 2 emissions at 44.56%. a