GRI Reference Our Disclosures Where to find this information?

G4-1Statement from the most senior decision maker discussing the relevance of sustainability and organisation's strategy to address sustainability

  • Chief Executive Officer's Statement

G4-3Name of the organisation

  • Commonwealth Bank of Australia

G4-4Primary brands, products, and services

  • Overview - Profile
  • Who we are

G4-5Location of the organisation's headquarter

  • Sydney, Australia

G4-6Number of countries where the organisation operates

  • International branches
  • Who we are

G4-7Nature of ownership and legal form

  • Structure

G4-8Markets served

  • Overview

G4-9Scale of the organisation

  • Five Year Financial Summary
  • A strong contributor to the Australian economy

G4-10Workforce

  • Treat all people with respect and fairness

G4-11Collective bargaining agreements

  • More than 60% of total employees are covered by collective bargaining agreements

G4-12Organisation's supply chain

  • Use our influence to enhance environmental, social and economic outcomes

G4-13Significant changes during reporting period

  • Full year profit announcement

G4-14Precautionary approach

  • Corporate Governance - Risk Management

G4-15External charters, principles, or other initiatives

  • Equator Principles
  • United Nations Principles for Responsible Investment
  • United Nations Women's Empowerment Principles

G4-16Membership of associations

  • United Nations Global Compact
  • United Nations Environment Programme Finance Initiative

G4-17Entities included in the organisation's consolidated financial statements

  • Annual Report 2016

G4-18Process for defining report content and aspect boundaries

  • Corporate Responsibility Strategy 2016- 2018
  • 2016 Materiality Matrix

G4-19​Material aspects

  • 2016 Materiality Matrix

G4-20​Aspect boundaries within the organisation

  • 2016 Materiality Matrix
  • The boundaries of the corporate responsibility metrics are defined in the 2016 corporate responsibility performance data table, available in the Data library

G4-21​​Aspect boundaries outside the organisation

  • 2016 Materiality Matrix
  • The boundaries of the corporate responsibility metrics are defined in the 2016 corporate responsibility performance data table, available in the Data library

G4-22Effects of any restatements

  • A number of minor restatements are listed in the Group's corporate responsibility data table - notes

G4-23Significant changes from previous reporting period

  • The Group's corporate responsibility performance data table represents 100% of the Group's wholly owned entities unless otherwise stated

G4-24List of stakeholders engaged

  • Corporate Responsibility Strategy 2016- 2018
  • Stakeholder engagement

G4-25Basis for identification and selection of stakeholders with whom to engage

  • Corporate Responsibility Strategy 2016- 2018
  • Stakeholder engagement

G4-26Stakeholders with whom to engage

  • Corporate Responsibility Strategy 2016- 2018
  • Stakeholder engagement

G4-27Key topics and concerns raised by stakeholders

  • Support and embed a culture of 'doing the right thing'
  • Strengthen the management of ESG impacts in our lending and investing practices

G4-28Reporting period

  • Financial year - July 2015 to June 2016

G4-29Date of most recent previous report

  • Financial year - July 2014 to June 2015

G4-30Reporting cycle

  • Annual

G4-31Contact point for questions regarding report

G4-32In accordance option chosen

  • G4 In accordance – Core

G4-33Assurance

  • PwC

G4-1Governance structure of organisation

  • Corporate governance
  • Note: this area is identified as one of the material issues for the Group

G4-1Ethics and Integrity

  • Commbank Customer Commitment Practices
  • Note: this area is identified as one of the material issues for the Group
GRI Ref. Key material issues for the Commonwealth Bank Group Disclosures on Management Approach (DMA) Indicators
  • Externally assured
Where to find this information?
Aspect: Economic Performance
DMA G4- EC-1
  • Market, political and regulatory environment
  • Financial stability and systematic risk management
  • Digital innovation and economic growth
  • Community investment and financial inclusion
  • Chairman's Statement
  • Chief Executive Officer's Statement
  • Develop innovative products and services to support our customers in the economy of the future
  • Create opportunities
  • A strong contributor to the Australian economy
  • Five-year Financial Summary*
  • Community investment*
Aspect: Indirect Economic Impacts
DMA G4-EC8
  • Digital innovation and economic growth
  • Drive digital innovation for improved products and services
  • Develop products and services for lending and investing that consider economic, environmental and social issues
Aspect: Emissions
DMA G4- EN15 - EN19
  • Environment - direct impact
  • Improving the environmental efficiency of our operations
  • Performance data: Environmental data
  • Total emissions*
  • Scope 1 emissions*
  • Scope 2 emissions*
  • Scope 3 emissions*
  • Emissions per FTE*
Labour Practices and Decent Work
Aspect: Training and Education
DMA G4- LA-9
  • Talent attraction and retention
  • Treat all people with respect and fairness
  • Average hours of training per year by employee gender, and by employee category*
Aspect: Diversity and Equal Opportunity
DMA G4- LA-12
  • Diversity and inclusion
  • Treat all people with respect and fairness
  • Women diversity metrics*
  • Age group*
  • Ethnicity profile*
Society
Aspect: Supplier Assessement for Impacts on Society
DMA
  • Sustainable supply chain
  • Enhance supply chain outcomes
Product Responsibility
Aspect: Product and Service Labelling
  • Product design and responsible marketing
  • Customer protection and remediation
  • Customer satisfaction results
  • Roy Morgan Research Main Financial Institution (MFI)*
  • DBM Business Financial Services Monitor Main Financial Institution (MFI)*
  • Wealth Insights Platform Service Level Survey*
Aspect: Product Portfolio
DMA G4- FS-6
  • Responsible lending and investment
  • Responsible lending
  • Strengthen the management of ESG impacts in our lending and investing practices
  • Group energy exposures and assessed carbon emissions of project finance energy sector

Sustainable Development Goals

The Commonwealth Bank of Australia is a signatory to the United Nations Global Compact and acknowledges the role businesses have to play in contributing to sustainable development. We actively consider the guidance provided on key developments such as the Sustainable Development Goals (SDGs) to evolve and refine our approach to Corporate Responsibility.

The SDGs are a set of seventeen goals that recognise ending poverty must go hand-in-hand with strategies that build economic growth and address a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection. The SDGs provide a framework for all sectors to understand and contribute to sustainable development.

As a major financial services organisation, our approach to supporting the SDGs is to focus on those areas where our impact is most material.

These areas are:

  • Goal 3: Ensure healthy lives and promote well-being for all at all ages
  • Goal 4: Ensure inclusive and quality education for all and promote lifelong learning
  • Goal 5: Achieve gender equality and empower all women and
  • Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all
  • Goals 13: Take urgent action to combat climate change and its impacts

As a first step in understanding and responding to the SDGs, we have mapped our existing programs of work to the goals. The below is not an exhaustive list of our programs and initiatives, but lists key example to illustrate some of the activities we are in the process of implementing.

In future years we will continue to review our strategy and programs of work in light of the SDGs and build on how we report.


Sustainable Development Goal Current Commonwealth Bank of Australia activities
1. End poverty in all its forms everywhere
  • Customer Hardship Assistance
  • Financial Inclusion Action Plan (one of 11 trailblazer organisations)
  • Reconciliation Action Plan
  • Natural Disaster Assistance
  • Community Investment program including Community Grants
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture No direct activities
3. Ensure healthy lives and promote well-being for all at all ages
  • Employee wellbeing programs e.g. EAP
  • iCAN Flex workplace flexibility program
  • Health and Safety programs
  • Reconciliation Action Plan
  • Community grants
4. Ensure inclusive and quality education for all and promote lifelong learning
  • Education investment (25 year commitment, with an initial $50m over 3 years)
  • Start Smart (world's largest financial literacy program of its kind)
  • School Banking (teaching children and young adults the value of saving and money management)
  • Indigenous student financial literacy program in partnership with AIME
  • Learning Impact Fund supports research into best practice education methods
  • Evidence for Learning toolkit
  • Education Awards recognise best practise teaching
5. Achieve gender equality and empower all women and girls
  • Diversity and Inclusion programs including women in management targets, workplace flexibility, parental leave
  • Domestic Violence initiatives
  • Women in Focus
  • WISE (Women Investment Series) program in Indonesia
  • TYME (Take Your Money Everywhere) products and services in South Africa
6. Ensure access to water and sanitation for all
  • Targets to reduce water usage as part of Sustainable Property Strategy
7. Ensure access to affordable, reliable, sustainable and modern energy for all
  • Signatory to Equator Principles
  • CleanTechFinTech Working Group
  • Appetite to fund renewables
8. Promote inclusive and sustainable economic growth, employment and decent work for all
  • Role as Australia's largest tax payer ($3.6bn in FY16)
  • 51,000+ employees, $6.2bn payroll expenditure in FY16
  • Diversity and Inclusion, and employee networks
  • Learning and development programs for employees
  • Responsible Investment training and policies
  • Not for profit banking specialists
  • Indigenous Careers Program incl. CareerTrackers
9. Build resilient infrastructure, promote sustainable industrialisation and foster innovation
  • Equator Principles signatory
10. Reduce inequality within and among countries
  • Financial Inclusion Action Plan (one of 11 trailblazer organisations)
  • Diversity and inclusion strategy and programs
  • Human Rights position statement
  • Reconciliation Action Plan
  • WISE (Women Investment Series) program in Indonesia
  • TYME (Take Your Money Everywhere) products and services
11. Makes cities, inclusive, safe, resilient and sustainable No direct activities
12. Ensure sustainable consumption and production patterns
  • Responsible lending and investment approaches (Wealth Management Responsible Investing Framework, ESG Risk Assessment Tool and Training)
13. Take urgent action to combat climate change and its impacts
  • Group Environment Policy that expresses the Group's commitment to support the transition to a low carbon economy and builds on the Group's existing commitments to reduce its direct environmental impacts; carefully consider its loan and investment book; and actively support businesses and technologies that reduce dependence on fossil fuels and mitigate the effects of climate change
14. Conserve and sustainably use the oceans, seas and marine resources No direct activities
15. Sustainable manage forests, combat desertification, halt and reverse land degradation and halt biodiversity loss No direct activities
16. Promote just, peaceful and inclusive societies
  • Diversity and inclusion programs, employee networks
  • Human Rights Position Statement
  • Reconciliation Action Plan
  • Equator Principles signatory
  • Anti-bribery, corruption and money laundering policies and procedures
17. Revitalise the global partnership for sustainable development
  • Corporate Responsibility strategy
  • Signatory to United Nations Global Compact, Principles for Responsible Investment and Equator Principles
  • Report against Global Reporting Initiative