I’m pleased to share with you ANZ’s new Group-wide framework for corporate responsibility (CR).
One year on from the Lehman Brothers collapse, many bankers around the world are still reflecting on how we got here and what we could have done differently. The social and economic effects for many people have been profound. All bankers have a role to play in putting this right and restoring trust in the banking sector.
A clear and explicit approach to CR which focuses on our areas of expertise, responds to the issues of most importance to our stakeholders and involves our people and inspires them to innovate, is vital to this effort.
Our new framework describes the contribution we will make:
We must also have greater coherence in how we think and act, and invest in our community. Based on discussions with our stakeholders, including our people, we have identified five priority areas for ANZ globally:
Now we have a framework, the next and most important step is to embed this thinking into our practices.
I believe we are part way there, not least because more than 500 of our people helped us develop this approach. And while we have work to do, it is encouraging to see strong external validation of our performance so far, with ANZ recently assessed the leading bank globally on the Dow Jones Sustainability Index.
We look forward to your guidance and support as we deliver on these commitments. We will of course continue to set public targets and report our performance to you every six months.
Corporate Responsibility September 2009