Commonwealth Bank has been named the most sustainable company in Australia, and the most sustainable bank in the world in the 2016 Global 100 (G100) Most Sustainable Corporations Index.
Commonwealth Bank is number four in the global index, which makes it the highest Australian corporation, and the number one bank in the world.
Announced overnight at the World Economic Forum, in Davos, Switzerland, by research firm Corporate Knights, the G100 Index considers a broad range of sustainable business factors including how organisations balance environmental, social, and governance performance while delivering superior returns to investors.
Kylie Macfarlane, General Manager, Corporate Responsibility, Commonwealth Bank said: “This diverse scorecard approach to sustainable business practices is valuable in that it ensures every part of the way we do business is considered.
“This includes everything from our achievement of 35 per cent women in senior management ranks to a new target to have 40 per cent by 2020; to reducing our energy consumption; as well as ensuring that we have industry-leading and transparent reporting around a range of indicators such as tax paid, superannuation fund status and carbon emissions,” she said.
“Our Corporate Responsibility strategy guides us in achieving our vision to excel at securing and enhancing the financial wellbeing of people, businesses and communities and we are delighted that the 2016 Global 100 is recognising our performance,” Ms Macfarlane said.
Commonwealth Bank reports its progress in Corporate Responsibility and sustainability in its annual Sustainability Report, and benchmarks its performance against a number of leading global sustainability indices and surveys.
About the G100
The G100 is an index of the world’s most sustainable companies. The index commenced in 2005 and is available on Bloomberg under the ticker <CKG100 Index> and on Reuters under the ticker <CKG100>. Inclusion in the index is assessed by Corporate Knights and announced annually at the World Economic Forum in Davos. Companies are scored on priority Key Performance Indicators (KPIs) for their particular industry. The 10 KPIs applicable to banks are: Energy Productivity, Carbon Productivity, Water Productivity, Waste Productivity, Percentage Tax Paid, CEO to Average Worker Pay, Pension Fund Status, Employee Turnover, Leadership Diversity, and Clean Capitalism Pay Link.