Being a responsible and sustainable bank means doing business in ways that benefit our customers, communities and the environment, today and into the future.
During the past 12 months, we significantly accelerated our work on sustainability, taking meaningful action to address climate change, reconciliation and financial inclusion.
Committing to climate action
Climate change is a key priority for our bank and our customers, and we believe it is vital to clearly set-out the steps we are taking to manage and mitigate climate risk.
In April 2022, we released our first climate-related risk disclosure in line with the global Taskforce on Climate Related Financial Disclosure (TCFD), which provided a level of disclosure more common to the world’s largest banks.
This was followed by the launch of our first Climate Action Plan in June 2022. The action plan maps out our journey to net zero emissions, including setting science-based targets and adopting global reporting standards. We have pledged to achieve our net zero goal by 2040, 10 years ahead of the target date set in the Paris Agreement.
We will review and refine our plan over time to ensure our commitments and targets remain meaningful, relevant and in the best interests of our customers.
Financial inclusion is part of our DNA
Our Financial Inclusion Action Plan (FIAP) sets out the practical actions we are taking to improve financial inclusion, resilience and the wellbeing of customers when they need it most.
In FY22, we completed all 15 actions within our FIAP. These actions are helping to deliver better social and economic outcomes and improve products and services for customers experiencing financial vulnerability.
Meaningful action towards reconciliation
The launch of Great Southern Bank’s Respect Reconciliation Action Plan (RAP) in December 2021 represented an important step in our commitment to reconciliation. The plan provides a clear roadmap upon which to strengthen our relationships, and build respect and opportunities with First Nations peoples.
In our inaugural RAP, we have sought to align our actions to our purpose of helping all Australians own their own home, by working in partnership with Aboriginal and Torres Strait Islander peoples to address barriers to financial and social inclusion.
Our RAP builds on the bank’s history of working with First Nations peoples to grow financial wellbeing, beginning with our merger 15 years ago with First Nations Credit Union and subsequent establishment of the First Nations Foundation.
Great Southern Bank worked closely with Reconciliation Australia to create the RAP and involved both Indigenous and non-Indigenous team members from across the business. To bring the RAP document to life, we worked with an Indigenous designer, Leigh Harris, to develop the visual identity that flows through the document and other communications linked to our journey toward reconciliation.
We also commissioned artwork from local Indigenous artist Narelle Urquhart to celebrate the launch of our RAP.
Great Southern Bank has also actively connected with our sports sponsorship partners to understand their journeys towards reconciliation and learn from their experiences. This included conversations with players and representatives of Carlton Football Club and the Brisbane Heat, as part of activities to celebrate National Reconciliation Week and NAIDOC Week.
Great Southern Bank also engaged with Australian Red Cross who shared their approach to reconciliation as part of the RAP launch activities.
Learn more about our Sustainability section and the positive impact we are making for customers, communities, the environment, and our team members.