The Commonwealth Bank of Australia (‘CBA’) has released its 2020 Annual Report, including updates on its sustainability performance and approach to climate change.
The newly-released report details CBA’s sustainability progress and performance for the financial year, and continues its reporting in line with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (‘TCFD’).
“We have been determined to support our stakeholders through the bushfires, drought and now COVID-19 pandemic crisis”, Euan Robertson, General Manager, Government, Industry and Sustainability, Commonwealth Bank, explains.
“We continue to progress our strategy to become a simpler, better bank, and to deliver against key environmental and social commitments – whether through our support for customers, response to climate change, our diversity and inclusion strategy or our Reconciliation Action Plan”.
While there is more work to be done, highlights for the reporting period include:
- Deferred more than 250,000 home, personal and business loan repayments and sent more than 250 million personalised in-app messages offering COVID-19 support.
- Sourced 100 per cent of electricity from renewable energy for our operations, 10 years ahead of our original RE100 commitment of 2030.
- Supported our community with $332 million in community investment.
- Committed up to $10 million in bushfire recovery grants and raised almost $6 million through the generosity of customers and employees.
- Saw increases in both the representation of Aboriginal and Torres Strait Islander peoples in our workforce, up to 1.5 per cent, and in spending with Indigenous suppliers, up to $4.4 million.
- Achieved both of our women in leadership targets, with women comprising 41 per cent of Executive Manager roles and above, and 45 per cent of Manager roles and above.
To read the 2020 Annual Report, visit: www.commbank.com.au/about-us/investors/annual-reports