Westpac announces commitment to using 100% renewable electricity by 2025

Sydney-based bank and financial services provider Westpac has announced its commitment to using 100% renewably-sourced electricity by 2025.

In its 17 April press release, the firm highlighted that it is one of the first Australian companies to make such a commitment and added that it will be joining the RE100 initiative.

Led by The Climate Group, the RE100 is a global leadership programme that consolidates business leaders globally that have pledged to use 100% renewable energy.

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“We see our move towards the use of renewable energy in our operations as being key to delivering on our existing climate change and sustainability commitments,” said Gary Thursby, Chief Operating Officer at Westpac, in the firm’s press release.
 
“As the largest financier to greenfield renewable energy projects in Australia1 - renewables make up 71% of Westpac’s lending to the electricity generation sector - becoming a customer to this industry is an important step for us.
 
“We’re proud to be supporting the local Wagga Wagga community - the site construction and on-going management of the Bomen Solar Farm will provide local employment and supplier opportunities. We also look forward to seeing what we can achieve through the associated one million dollar community fund over the next ten years.”