Westpac Banking Corp

Westpac Banking Corp demonstrates a moderate level of governance in managing its climate-related lobbying activities. The company discloses that its "Position Statement and Action Plan has been reviewed by the Environment, Social, Governance and Reputation (ESGR) Committee, which is an executive level committee and chaired by our CEO," and that the Board has oversight of its climate change response. Additionally, the company states that it "continues to review our membership of industry associations and their advocacy activity with regards to climate change in line with our Industry Association Principles," which indicates some level of monitoring of indirect lobbying. However, while the company outlines a governance structure involving multiple committees, such as the ESGR Committee and the Stakeholder Advisory Council, and mentions that "we aim to identify and collaborate with industry groups on initiatives that align with our principles," there is no explicit evidence of a detailed process for ensuring alignment of both direct and indirect lobbying with its climate goals. Furthermore, while the Board and its committees receive updates on climate-related matters, the disclosures do not provide specific mechanisms or criteria for assessing and enforcing alignment of lobbying activities. The company also does not disclose a comprehensive lobbying audit or review that evaluates alignment with climate-related goals. This indicates that while governance structures are in place, the processes for monitoring and managing lobbying alignment remain underdeveloped or undisclosed.