Sustainability Report

The long-term sustainability of the Group is essential for creating enduring value for shareholders and the Australian community as a whole. 2010 saw significant achievements across the Group’s five sustainability foundations: customers, people, governance, community and environment.

Customers

The Group made significant progress towards the goal of becoming number one for customer satisfaction. A number of initiatives were rolled out for retail, business and wealth management customers, providing innovative financial solutions and improvements to customer experience.

To advance financial education for a new generation of young Australians, the Group launched its 'onemillionkids' commitment in November 2009. The aim of ‘onemillionkids’ is to improve the financial literacy of more than one million Australian school children by 2015.

The Indigenous Banking Team (IBT) expanded its size and reach during the year. The IBT, the first of its kind from a major Australian bank, is dedicated to providing the Group’s Indigenous customers with the highest-quality business expertise and customer service. This level of specialised support is crucial to ensuring Indigenous communities have access to the same opportunities for wealth creation as other Australians.

People

Ian Kiernan AO, Chairman and Founder of Clean Up Australia, and Platy help the local community to clean up in Williamstown Jawbone Marine Sanctuary, Victoria.
Ian Kiernan AO, Chairman and Founder of Clean Up Australia, and Platy help the local community to clean up in Williamstown Jawbone Marine Sanctuary, Victoria.

A continued focus on developing a culture of trust and team spirit and embedding the Group's behaviours has assisted with delivering strong people engagement and pride within the organisation. The Group continued to achieve global best-practice people engagement results, and results across other key people metrics remained steady.

The Group's Diversity Strategy was refreshed in 2010, with a particular focus on diversity in leadership, respect and inclusion, adaptable work practices and diversity support. The Group believes that a focus on women in leadership is a leading indicator of broader diversity within the organisation, and has set a specific goal to increase the representation of women in leadership from the current level of 26 per cent to 35 per cent by December 2014.

Community

The Group's dedication to working with Australian communities, large and small, was demonstrated through many programs with partners in the areas of health and welfare, the arts, environment and sport. Achievements in 2010 included supporting the National Australia Day Council to celebrate 50 years of recognising the valuable contributions of outstanding Australians through the Australian of the Year Awards, contributing over $550,000 to 66 youth and children's charities through the Community Grants programme, and a second year of successful partnership with Clean Up Australia, helping over half a million Australians to make a difference to their local environment.

Environment

Following the announcement of the Group's carbon reduction target to reduce emissions from its Australian operations by 20 per cent by June 2013 (from 2008–09 levels), the Group has been working on a number of initiatives in its tool-of-trade fleet and retail and commercial properties. The Group reduced emissions from its tool-of-trade fleet by 8 per cent by changing vehicle and fuel types and delivering driver education. Construction work continued on the Group's Commonwealth Bank Place building, which will target environmental performance ratings including 6 Star Green Star Office Design and 5 Star NABERS, ahead of occupancy which will begin in late 2011.

Australian of the Year 2010 recipients Ronni Khan, Professor Patrick McGorry AO and Maggie Beer visit students at Cabramatta High, which the Group partners with through the Australian Business & Community Network.
Australian of the Year 2010 recipients Ronni Khan, Professor Patrick McGorry AO and Maggie Beer visit students at Cabramatta High, which the Group partners with through the Australian Business & Community Network.

See more information about the Group's sustainability program, and our latest Sustainability Report.