CBA named as Australia’s most sustainable company
The Commonwealth Bank has claimed the title of the most sustainable company in Australia, and the world’s most sustainable bank at the World Economic Forum, in Davos, Switzerland.
Toronto-based media and investment advisory company, Corporate Knights, released its 2016 Global 100 Most Sustainable Corporations in the World Index on Thursday. CBA was ranked as number four in the global index, which measures the sustainability of publicly traded companies with a market capitalisation of at least $2 billion as of Oct.1, 2015.
The index takes a number of sustainable business factors into account, such as 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.
The company to have topped the sustainability index was luxury car giant BMW, which was acknowledged for its efficient use of energy, water and lack of waste. Other Australian companies to feature in the list were Westpac, ANZ, NAB and IAG.