ANZ ‘off track’ on diversity
ANZ has labelled itself as having been ‘off track’ when it comes to increasing women in leadership and recruiting over 1,000 people from under-represented groups.
In its environmental, social and governance (ESG) report, the bank said it aimed to have women make up at least 34.1% of its leadership by 2020 but was only at 33.1%.
The bank had increased its female representation every year since 2015 where it stood at 29.5%.
The bank currently employed around 39,000 people but had failed to meet its target of recruiting over 1,000 people from under-represented groups by 2020 with only 829 hired.
The under-represented groups included refugees, people with a disability, and indigenous Australians.
However, the ESG report noted that the bank was ‘on track’ for six out of its eight targets.
These included:
- Improve reputation and community trust;
- Fund and facilitate at least $50 billion by 2025 in sustainable solutions (currently at $4.1 billion);
- Reduce scope one and two emissions by 24% by 2025 and 35% by 2030 (currently at 29%);
- Help enable social and economic participation of one million people by 2020 (currently greater than 998,000);
- Fund and facilitate $1 billion of investment by 2023 (currently at $315 million); and
- NZD $100 million ($92.1 million) of interest fee loans to insulate homes (currently at NZD$7.45 million).
Recommended for you
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
The latest monthly Bank of America global fund manager survey has found investors are starting to shift cash into bonds as cash allocations reach a three-year low.
