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ANZ CORPORATE RESPONSIBILITY REPORT 2007 2 ‘Leading a Responsible Business Is Personally Important to Me…

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ANZ CORPORATE RESPONSIBILITY REPORT 2007 2 ‘Leading a Responsible Business Is Personally Important to Me… WHAT’S THE DIFFERENCE? CORPORATE RESPONSIBILITY REPORT 2007 ing engag ng leadi e genuin distinctive g in er liv de INTRODUCTION ABOUT THIS PUBLICATION ANZ is one of four major Australian-based This publication ‘What’s the Difference?’ banks and is the largest bank and is ANZ’s third annual Corporate company in New Zealand. Headquartered Responsibility (CR) Report. It focuses in Melbourne, ANZ’s Australian on our performance against the publicly operations began in 1835 and its stated goals from our 2006 CR Report New Zealand operations in 1840. (see www.anz.com/cr2006) and CR issues material to our business As at 30 September 2007, ANZ has and stakeholders. total assets of $392.6 billion and shareholders’ equity of $22 billion. This Report complements our summary We have a market capitalisation of report and covers our Australian, approximately $55.4 billion and are New Zealand and Asia Pacifi c the fi fth largest Australian company banking operations for the year to by market capitalisation listed on the 30 September 2007. Australian Stock Exchange. We have used the Global Reporting We operate in 31 countries worldwide Initiative G3 guidelines and the fi nance with the majority of our operations in sector social and environmental Australia and New Zealand. This year supplement as a reference in the we announced a new Asia Pacifi c preparation of these publications. division to refl ect the growing The Corporate Citizenship Company importance of the region to ANZ. has provided an external assurance To support its strategy, ANZ has had statement in keeping with the a consistent focus on key areas: International Standard on Assurance the quality of its people and culture; Engagements ISAE 3000 and AA1000 its customers; and the communities Assurance Standard. in which it operates. Chairman’s message 4 Stakeholder engagement 18 New Zealand 85 CEO’s message 5 Section 1 People 19 Asia Pacifi c 92 2007 Performance summary 6 Section 2 Customers 34 Our performance 95 Profi le 11 Section 3 Community 54 Recognition 97 Corporate responsibility 14 Section 4 Environment 73 Assurance 98 governance and supply chain More information & Contacts 103 ANZ CORPORATE RESPONSIBILITY REPORT 2007 2 ‘Leading a responsible business is personally important to me… The nature of our business means we will potentially become involved in clients and transactions that raise controversial issues. Clarifying and understanding our role in these circumstances is part of being a responsible corporation… Our role is to work with our clients, helping them to pursue their goals and improve their social and environmental performance. In some cases, where a client’s commitment does not seem evident, we must be prepared to discuss why and whether our relationship is sustainable.’ MICHAEL SMITH, CHIEF EXECUTIVE OFFICER CHAIRMAN’S MESSAGE This Report is concerned with our responsibilities to all our stakeholders: our staff, our customers, the community, the environment and our shareholders. It reviews our progress in these areas and We are involved in the global response sets new targets for the future and we are to climate change, assisting our clients pleased that we have made signifi cant to understand and manage the risks progress in 2007. We are embracing the and opportunities. While our own challenges and seeking innovative ways environmental footprint is not signifi cant, to address them. Our aim is to be a we are making progress in reducing the respected, responsible corporate citizen Bank’s direct impact and this is receiving that recognises and constructively considerable attention in the plans for faces up to our responsibilities to all our new offi ce at Docklands in Victoria. of our stakeholders. We have had another solid year for our Our people are becoming more engaged shareholders with a higher profi t and with our corporate responsibility agenda. higher dividends. We have plans to Our fi nancial literacy programs are continue to be a satisfactory investment assisting thousands of vulnerable for our shareholders in the future. Australians. We are lowering our lost This year the Board supported the OECD time injury frequency rate, responding Guidelines for Multinational Enterprises to the needs of an increasingly diverse as a framework to help us further workforce, focusing on increasing the develop our corporate responsibility number of women in leadership approach. The commitment to the positions and building employment Guidelines will be refl ected in the Bank’s opportunities for Indigenous Australians. policies and practices. I anticipate the We have continued to focus on the needs Guidelines will be particularly useful as of our customers and our retail customer we expand our existing interests and satisfaction score remains high. pursue new opportunities in Asia. The Equator Principles have become On a fi nal note, we are very pleased that a standard part of our assessment we were assessed as the leading bank of project fi nance proposals and are globally on the Dow Jones Sustainability providing a useful framework for Index. This provides recognition of the our consideration of social and efforts of our staff to create a successful environmental issues in other parts and responsible corporation. of our Institutional business. CHARLES GOODE CHAIRMAN ANZ CORPORATE RESPONSIBILITY REPORT 2007 4 CHIEF EXECUTIVE OFFICER’S MESSAGE Leading a responsible business is personally important to me. I have been with ANZ for about a month We must balance a diverse range of at the time of this report’s preparation. responsibilities, especially to our people, It is clear that much has been achieved customers and shareholders. Our work in ANZ’s core markets of Australia and will be guided by considerations New Zealand: including community sentiment, the ■ A great culture and workplace policies decisions and policies of governments that support it and regulators, and the views of social and environmental interest groups. ■ A strong focus on retail customer service and responsible lending standards Our most important role is to work with ■ Innovative programs to improve fi nancial our clients, helping them to pursue literacy their goals and improve their social and environmental performance. In some I have also been impressed by the cases, where a client’s commitment genuine connection between our does not seem evident, we must be employees – particularly our branch prepared to discuss why and whether network – and their local communities. our relationship is sustainable. These themes are on the right track and We are also growing in Asia. We have have created a very strong foundation our own operations and joint ventures for the bank. and we are looking for the right As we prepare for our next phase, we are opportunities to expand our presence deeply conscious that doing business, there. Some of the governance and especially with larger corporate clients, standards in these markets are quite is becoming increasingly complex. Many different to what we expect in our forces are at play. These include social, “home” markets. I believe we can and ethical and environmental considerations, will play, over time, an important role in as well as the more familiar and direct contributing to the further development concerns of an economic, fi nancial and of these standards and the fi nancial industrial character. services sector in the region. The nature of our business means we will I want to thank you for your support for potentially become involved in clients ANZ. I hope you will stay engaged in our and transactions that raise controversial journey and assist us in providing true issues. Clarifying and understanding leadership in responsible business our role in these circumstances, and management in the coming years. acting accordingly, is part of being a responsible corporation. MICHAEL SMITH CHIEF EXECUTIVE OFFICER ANZ CORPORATE RESPONSIBILITY REPORT 2007 5 PUTTING OUR CUSTOMERS FIRST 2007 Performance summary GOAL COMMENTARY PERFORMANCE Continue to improve our ANZ’s retail customer satisfaction at 77.2% (September 07) continues to lead major bank Partially achieved customer satisfaction and peers in Australia according to the Roy Morgan Finance Monitor. Overall our customer match the performance of satisfaction has increased by 1.7% since September 2006, and is 4.7 points higher than community and regional the average for major banks. Against the regional banks, ANZ continues to perform well but banks is 15.4 points behind the regional bank leader in customer satisfaction. Meet or exceed the We met or exceeded the performance standards on the majority of our Customer Partially achieved performance standards set Charter promises. Signifi cant efforts to improve our performance on fast account openings out in our Customer Charter in Mortgages resulted in 98.5% of standard home loan applications being answered in two working days, up from 96.1% in 2006. Maintain our position as ANZ continues to perform strongly in the large corporate and institutional banking market in Achieved Number 1 Lead Bank for Australia and New Zealand. ANZ maintained or gained leadership in 11 measures including Major Corporate and No.1 Most Trusted Adviser according to research of Treasurers and Chief Financial Offi cers Institutional clients conducted by Peter Lee Associates. Develop and implement We developed and conducted extensive consultation on our draft Forests Policy, the fi rst in a Did not achieve social and environmental series of sector-specifi c policies designed to provide greater consistency in the integration of management policies for social and environmental factors into our lending and business decisions. ANZ Institutional forestry, mining and energy Division is engaged in a fi nal round of stakeholder discussions prior to fi nalising the Policy. for our Institutional business Policies on water, mining and energy are being developed and will be the subject of stakeholder consultation in 2008. Implement the Equator Since we adopted the Equator Principles in December 2006, we have reviewed 26 projects Partially achieved Principles across our Project for social and environmental impact under the Principles and approved 16.
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