Embrace Sustainability Or Be Left Behind

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David Cunliffe

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TurboClass '07

Westpac CEO Calls on NZ Businesses to Embrace Sustainability Or Be Left Behind

Westpac chief executive Ann Sherry has thrown down the gauntlet to the New Zealand business community to raise its commitment to sustainable business practice.

In her keynote speech to an audience of award-winning New Zealand businesses at the inaugural Westpac Business Excellence TurboClass, Ann Sherry reflected on her four years in New Zealand.

"One of my overriding impressions has been the innovation and energy of the country's small and medium-sized business sector. The potential for success is huge."

Ms Sherry said the global movement towards sustainable business practice presented an exciting opportunity for New Zealand too, but was something that New Zealand businesses had failed to fully capitalise on so far.

"A true commitment to sustainability can itself sponsor new innovations, new products and services, new opportunities and new ways of engaging with people, all of which is marketable domestically and internationally," said Ann Sherry.

"Companies that understand their links with communities and their impact on the environment are more likely to prosper in the long run.

"Either New Zealand businesses get to grips with this reality or it will be forced on them over time: by international obligations, by domestic regulators, by savvy and concerned consumers here and overseas, and by overseas competitors who have already moved in this direction," she said.

"Sustainability could well be the boost factor that provides Kiwi businesses with the competitive advantage they need," said Ms Sherry.

"At Westpac we've long taken a sustainable approach to our business. Whether represented by our zero waste commitment, our Managing Your Money financial literacy programme, or our soon-to-be-unveiled green home loan scheme, we are already using our deeply embedded belief in the power of sustainability to drive our business."

Ms Sherry acknowledged that some of the fourteen businesses attending the Westpac Business Excellence TurboClass event, all winners of 2006 Regional Business Excellence Awards, were already well down the sustainability road.

"Comvita's work in donating funds for native tree planting, sport and primary school sponsorships, and even beekeeper scholarships, are just some of the great examples of social and environmental initiatives they support so effectively."

The full-day interactive workshop covered advice from business leaders on branding, financial management, leadership and sustainability issues.

Other presenters at the TurboClass workshop included associate minister for economic development David Cunliffe, Saatchi and Saatchi CEO Andrew Stone, Vodafone New Zealand CEO Russell Stanners, and Navman founder Peter Maire.

The fourteen regional Business Excellence Award winners attending the TurboClass are Comvita, Kathmandu, Rainbow Springs, Cottages New Zealand, Lodge Bordeaux, BCS Group, Styrobeck Plastics Ltd, Life Unlimited, Direct Fuels, Placemakers New Plymouth, Abel Tasman Wilson's Experiences, Presbyterian Support Otago, PORSE and Laser Group.

ENDS

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