Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

Westpac

 

 

 

Westpac Climate Bonds Programme

 

Westpac is an Australian bank and financial-services provider headquartered in Sydney. It is one of Australia's 'big four' banks. Westpac serves around 13 million customers.

 

In 2016, Westpac issued their first Certified Climate Bond. This gave investors the opportunity to support environmental projects through a high-grade fixed income investment. The Climate Bond use of proceeds was allocated to these Sector Criteria: Renewable Energy – Wind, and Low Carbon Buildings – Commercial Buildings. Further Climate Bond issuances were undertaken in 2017 and 2018 under a Climate Bond Programmatic Certification.

 

Westpac continues to identify eligible projects and assets that would cover multiple issuances under the following Sector Criteria: Low Carbon Transport, Low Carbon Buildings – Commercial Buildings, Renewable Energy – Solar and Wind.

 

Westpac's portfolio is verified by CBI Approved Verifiers and is eligible under Programmatic Certification under the Climate Bonds Standard.

 

DATE OF ISSUE

TENOR  TYPE OF INSTRUMENT

SIZE

COUNTRY OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION

June 2016

5 years Use of proceeds bond

AUD 500m (USD 360m)

Australia

Wind & Low Carbon Buildings - Commercial

pre-issuance report by EY Asia Pacific

post-issuance by EY Asia Pacific

Impact Report 2017

 

Press Release

Company Website

February 2017 10 years Use of proceeds bond private placement Australia  Wind & Low Carbon Buildings - Commercial  post-issuance by EY Asia Pacific

Impact Report 2017

Company Website
November 2017 7 years Use of proceeds bond EUR 500m (USD 589m) Australia  Low Carbon Transport, Low Carbon Buildings - Commercial, Wind, Solar

post-issuance by PwC

Impact Report 2018

Press Release

Company Website

February 2018 5 years Use of proceeds bond AUD 117m (USD 91m) Australia Low Carbon Transport, Low Carbon Buildings - Commercial, Wind, Solar post-issuance by PwC Impact Report 2018

Press Release

Company Website

 

​​Note: Programmatic Certification - only one pre issuance report required for first bond

 

Westpac Green Tailored Deposit Product

In November 2018, Westpac launched the World’s first CBI certified Green Tailored Deposit Product. Eligible projects and assets were verified under the following Sector Criteria: Low Carbon Buildings – Commercial Buildings, and Renewable Energy – Wind.

 

DATE OF ISSUE

TENOR  TYPE OF INSTRUMENT

SIZE

COUNTRY OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION

November 2018

N/A Green Tailored Deposit Product

N/A

Australia

Low Carbon Buildings, Wind

pre issuance Verification Statement

 

Westpac Press Release

Specific information to Green Tailored Deposits