Develop Workplace Policy & Procedures for Sustainability

Running head: WORKPLACE POLICY AND PROCEDURES 1
Develop Workplace Policy & Procedures for Sustainability

WORKPLACE POLICY AND PROCEDURES 2
Table of Contents
Section 1: Plan and Develop a Sustainability Policy.......................................................................3
Scope of the policy......................................................................................................................3
Recommendations for policy options..........................................................................................3
SWOT Analysis- Preparing workforce of the future...............................................................3
SWOT Analysis- Innovation strategies...................................................................................4
SWOT Analysis- Lending and investment commitments.......................................................4
SWOT Analysis- limiting the climate change to 2 degrees, and reduce carbon emissions.....4
Cost Benefit Analysis..............................................................................................................5
Time Frame..............................................................................................................................6
Sustainability policy for Commonwealth Bank of Australia.......................................................6
Evidence of Agreement...............................................................................................................7
Section 2: Communicate and implement the policy........................................................................7
Stakeholder Communication Plan...............................................................................................7
Sustainability Policy Implementation Plan and Procedure Report..............................................9
Section 3: Monitor and review the sustainability report................................................................11
Review Report of CBA Sustainability Policy Implementation.................................................11
Modified Sustainability policy..................................................................................................12

WORKPLACE POLICY AND PROCEDURES 3
Section 1: Plan and Develop a Sustainability Policy
a. Scope of the policy
The Corporate Responsibility Report of the Commonwealth Bank Australia shows continuing
progress across a range of activities (Commonwealth Bank, 2019a). The policy emphasizes on
investing in financial education programs for children and the youth population. The report also
contains the Commonwealth Bank’s Climate Policy Position Statement that highlights the bank’s
commitment to reduce their emissions in the coming years and align their climate change
decisions with the Paris Agreement (Commonwealth Bank, 2019b). The primary focus of the
report is to support financial education of children and develop good behaviors with regards to
financial skills and importance of education in life. The report also has focused on lending
exposure to renewable energy projects along with enabling economic and social development,
supporting jobs and creating better opportunities for the youth of Australia and its millions of
customers. As the interests and concerns of the stakeholders evolve, Commonwealth Bank tries
to accomplish its goals by setting new goals and benchmarks to drive sustainable value. The
scope of the policy is to help prepare the workforce of the future by investing in education
initiatives, bring innovation strategies to contribute to business and communities, improve the
lending and investment commitments, limiting the climate change to 2 degrees, and reduce
carbon emissions.
Recommendations for policy options
SWOT Analysis- Preparing workforce of the future
Strength: The motive of preparing the workforce of the future will be to foster high-quality
teaching in schools and support educators by providing them with best teaching and leadership
practices.
Weakness: The probable weakness can be negligence from teachers to impart the right
knowledge to students.
Opportunity: This will create better employment opportunities for teachers and the smart
initiatives can result in engagement of students.
Threat: The threat can possibly be the stakeholders’ involvement in the policy.

WORKPLACE POLICY AND PROCEDURES 4
SWOT Analysis- Innovation strategies
Strength:The strength will be the developments in creating innovative products that supports
better financial management. The policy will also aim at empowering the businesses and
communities with use of emerging technologies.
Weakness:The weakness of this option can be the changing technology. The policy has to be
updated accordingly.
Opportunity: The opportunity can be from delivering simple and convenient payment
experiences for the customers of the bank. There is a huge opportunity for empowering
businesses with regards to bringing innovations through artificial intelligence and blockchain.
Threat:The threat can be misuse of technology which includes data breaching, information theft
and confidentiality issues.
SWOT Analysis- Lending and investment commitments
Strength:The strength of the policy will be greater impact above direct operations on the
suppliers and customers. The responsible lending and investing practices will help to improve the
environmental, economic and social outcomes.
Weakness:Interest rates could be the possible weakness since they are always fluctuating.
Opportunity:The lending exposure to renewable electricity generation can be a good
opportunity for the company.
Threat:Since operations related to carbon emissions demand high amount of investment, it can
lead to losing out on existing customers.
SWOT Analysis- limiting the climate change to 2 degrees, and reduce carbon emissions
Strength:The strength lies in measuring and reducing the impact on environment and investment
in renewable energy.
Weakness:In order to have the latest technology and reduce the carbon emissions, there can be
huge amount of investment involved.