Australia and New Zealand Banking Group Limited (ANZ) holds second Environment, Social and Governance market briefing last month

Jul 17, 2019 2:00 PM ET

July 17, 2019 — “By doing the right thing for customers and the community, we will be a better and safer organisation providing more sustainable returns for our shareholders”, Shayne Elliott, ANZ Chief Executive Officer (CEO) at the bank’s second Environment, Social and Governance (ESG) market briefing.

The ESG market briefing featured how ANZ has improved governance structures and processes needed to deliver outcomes important to all stakeholders and what the bank is doing to act on the failures identified at the Banking Royal Commission in Australia.

Mr Elliott explained the governance framework put in place to provide a better structure for effective and responsible decision making within the bank. Namely, the Ethics, Environment, Social and Governance Committee of the Board, the Ethics and Responsible Business Committee, a management committee chaired by Mr Elliott and improved processes and policies.

“These two committees are critical elements of our governance structure and while they complement each other, they also differ considerably,” he said. “The board committee has focused primarily on how we go to market and how we govern issues. The executive committee considers more operational and customer related issues, including who we bank.”

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