Updated Community Investment reporting framework
3 October 2019
We commissioned external community consultancy, The Incus Group, to draw up a revised best-practice framework for reporting community contributions. This project involved a comprehensive peer review of 11 national and global peers and an assessment of Community Investment (CI) models, data and methodologies. The new framework builds on our experience with reporting community contributions and use of the London Benchmarking Group.
The guiding principle for our CI framework is to “count all direct cash contributions for community benefit.” This means the total amount of cash contributions paid directly to community organisations or in support of community activities.
- Our CI contribution was $1,847,189 or 6.83% of net profit after tax (NPAT)
- The range within the peer review group of 11 national and global peers was 0.2%-4.2% of NPAT
- The Big Four banks contributed between 0.3%-0.6%.
- This means that compared to the Big 4, our direct community investment, as a percentage of NPAT, is 11-22 times greater.