CBA is Australia’s leading financial services institution, with operations across the world. To make this global operation run smoothly, the Bank has a complex and diverse supply chain – with approximately 5,000 suppliers.
Our purpose is to improve the financial wellbeing of our customers and communities. To achieve this we aim to grow the breadth and depth of projects awarded to diverse suppliers.
We also look to support inclusion and diversity initiatives in all our suppliers. We work with over 20 major suppliers, representing over $1.5B procurement spend annually, to identify and create opportunities across our supply chain. This not only multiplies the impact of our program, it ensures diverse suppliers are not locked out of CBA’s supply chain due to pre-existing supplier relationships.
CBA has a target to achieve parity in Indigenous procurement – with 3% of our annual domestic contestable supplier spend to go to Indigenous owned businesses by 2024.
Diverse suppliers are those that are over 50% diverse owned and controlled, are profit-for-purpose or are certified with a relevant not-for-profit organisation.