Developing Workplace Policy & Procedures for Sustainability at CBA

This report provides a detailed overview of the Commonwealth Bank of Australia's (CBA) sustainability policy and procedures. It begins with the planning and development of the policy, including its scope, recommendations for policy options, and a comprehensive SWOT analysis examining strengths, weaknesses, opportunities, and threats across various aspects like workforce preparation, innovation strategies, lending commitments, and climate change mitigation. A cost-benefit analysis is presented, demonstrating the financial viability of the sustainability initiatives. The report then outlines the sustainability policy itself, emphasizing the bank's commitment to workforce development, lending practices, carbon footprint reduction, and fostering innovation. The implementation section includes a stakeholder communication plan and a detailed implementation plan and procedure report, including a cost-benefit analysis and timeline. Finally, the report concludes with a monitoring and review section, including a modified sustainability policy based on the review's findings.

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.

WORKPLACE POLICY AND PROCEDURES 5
Opportunity:Along with carbon emissions, there is an opportunity of managing the waste as
well as reduce water consumption across retail and commercial spaces.
Threat:The threat to the business can be climate change and pose significant risk for the policy
framed. The time for accomplishing the sustainability
Cost Benefit Analysis
Costs Amount ($) (‘000)
Direct Costs:
Products
Customers
Services
Projects
Indirect costs:
Overhead expenses
Tangible costs:
Payroll
Rent and rates
Taxes
Purchase of tools
Cost of assets
Real Costs:
Cost of labor
Cost of raw material
50
70
65
125
78
62
32
28
80
45
35
40
Total costs 630
Benefits Amount ($) (‘000)
Sales of products and services
Promotion campaigns
Workflow efficiency
Customer loyalty and retention
580
420
280
280

WORKPLACE POLICY AND PROCEDURES 6
Goodwill
High quality database
High productivity
300
450
350
Total benefits 2660
Benefits – Costs 2030
The above cost-benefit analysis shows that the total costs result to 630 whereas the benefits
derived will be higher than expected which result to 2030. Therefore, the benefits are higher than
the costs incurred.
Time Frame
The time frame for implementing the policy will be based on the objectives to be
achieved. The policies will be achieved within a period of 1 year.
b. Sustainability policy for Commonwealth Bank of Australia
In the opinion of Zadek& Robins (2015), the trend of sustainability is emerging in the banking
world as more financial institutions look to integrate sustainability into their business strategies.
The focus of this policy revolves around improvement of the workforce of the future, enhancing
lending and investment commitments, reduction of carbon footprint of the banking institutions
and foster innovation through use of various technological advancements. Dow & Downing
(2016), have highlighted that the world is changing and issues like climate change and resource
scarcity are becoming important. A sustainable business is a better business, bur it requires it to
adopt sustainability options. In order to become sustainable, the policy has highlighted that
sustainable businesses must be financially viable which can be helpful in meeting lending and
investment commitments. The policy identifies pro-active approaches that applies to utilization
of clean energy and efficiency transactions. The rate at which banks are communicating major
long-term sustainable financing commitments is increasing with time which has provided them
with an opportunity to link products and services to corporate responsibility (Epstein, 2018).
However, there lies and opportunity for the banking to do more to engage its leadership,
employees, customers and investors to create a sustainable environment. The policy will also

WORKPLACE POLICY AND PROCEDURES 7
foster equipping children with educational as well as financial skills they need for the future. In
addition to that, the policy will emphasize on bringing renewable energy projects with reduction
in use of toxic materials, hazardous chemicals and minimizing over consumption of resources.
Evidence of Agreement
Key Performance Indicators:
 Strive for international leadership in sustainable business practices
 The lending and investment practices will address the issues of ESG (Environmental,
Social and Governance)
 Increase the purchase of sustainable products and services
 Invest in improving the community by supporting educational sectors via grants,
scholarships, and professional development
 Support professional development of teachers via their teachings and skills
 Measure and report energy consumption and carbon emissions annually
 Reduced electricity and water consumption
 Manage the status of the bank as a carbon neutral financial institution
Section 2: Communicate and implement the policy
a. Stakeholder Communication Plan
The commonwealth bank of Australia is regarded as the multinational bank of Australia. It was
categorically founded in the year 1911 by the government of Australia (Kramer et al. 2015).
The commonwealth bank Act had its first branch which was categorically set up in Melbourne. It
has been regarded as the central bank of Australia.
The swot analysis of the Commonwealth bank of Australia has been given below:
Strengths
 It is regarded as the leading bank of Australia if the Main Financial Institution rankings
are to be considered.
 It has the aspect of high quality and extremely diversified aspect of portfolio.
 It has the concrete levels of emphasis on the levels of technology

WORKPLACE POLICY AND PROCEDURES 8
 It has the aspect of capital ratios as well as the financial position that has been treated as
robust.
 The environment can be seen as such that it is continuously improving day in and day
out.
Weaknesses
 It has the aspect of high levels of dependence on the borrowings that can be considered as
offshore (Noe et al 2017). .
 It has the aspect of money laundering scandal that is a truly massive deterrent to the
overall functioning of the bank.
 The levels of operating expenses seem to be on the rise.
Opportunities
 It has ensured the aspect of expansion into the various domains of the Asian as well as
the various markets that have been on an emerging scale.
 It has the concept of the Indigenous Customer Assistance Line( ICAL) that has been
considerably inculcated in it.
Threats
 There has been the aspect of phasing out the guarantees provided by the government to
the various banks
 There is the aspect of higher levels of capital requirement by the various APRA.
 The business environment has been predominantly slow and it is gradually in the level of
massive slow down in various regions of China.

WORKPLACE POLICY AND PROCEDURES 9
b. Cost benefit analysis and its implementation
The cost benefit analysis is regarded as the method that has been categorically needed for the
various levels of appraisal. As opined by McPherson et al.(2016), this aspect is regarding the
proposals of the various projects in the Commonwealth Bank in Australia. It is regarded as the
definitive tool that helps in the aspect of social benefits and also helps in the determination of
various levels of priorities. This is in relation to the benefits as well as the marginal costs. In
theory, it has been regarded as the aspect of calculating the various costs as well as the benefits
of the society in a proposal (Markey et al. 2016). This concept inculcates the twin aspects of both
the environmental as well as the social aspects.
The common wealth bank of Australia can implement this aspect of cost benefit analysis by
inculcating the various methods of appraisal that is the multi criteria analysis. It has been
categorically reflected by the use of opportunity in relation to the costs in Cost Benefit Analysis.
The economic cost of the project is regarded as the social benefit that is seen as the best available
alternative. This aspect is seen as the prime criteria to be able to undertake the project properly.
The rail gauge’s standardization and its appraisal can be undertaken at the rim of the twentieth
century. It has been seen a classic example of CBA in Australia (Noe et al. 2017). There has
been o levels of substitute in terms of rigorous analysis that can help in the proper decision
making once the cost benefit analysis is properly implemented in CBA. It will help in the greater
use of policy as well as the decisions in infrastructure will improve and will not be facing the
impending amount of criticisms.
c. Sustainability Policy Implementation Plan and Procedure Report

WORKPLACE POLICY AND PROCEDURES 10
Cost Benefit Analysis
Cost Benefit Analysis Time taken
Direct Cost
Products 30 35 days
Customers 80 20 days
Projects 90 19 days
Services 90 15 days
Indirect Costs Time taken
Over head expenses 78 15 days
Tangible costs
Pay roll 43 36 days
Rent as well as taxes 65 34 days
Cost of assets 56 45 days
Purchase of the tools 54 14 days
Section 3: Monitor and review the sustainability report
a. The Commonwealth Bank Of Australia’s commitment to sustainability as a part of
Business planning
The commonwealth Bank of Australia has managed to take concrete steps in ensuring that there
has been various levels of updated governance, both in terms of social as well as environmental .
These policies have ensured that there is the aspect of positive impact in terms of the business of
the Commonwealth bank of Australia.
The commonwealth bank has looked after this aspect in maintain the necessary standards in
terms of the sustainability in order to be consistent in the long run. According to the chief
executive of the commonwealth bank Ian Narev the bank has managed to function for more than
a century and they would strive to be successful in the future as well (Ammendolia et al. 2016).

WORKPLACE POLICY AND PROCEDURES 11
They have tried to look after the aspects of long term impact of their business in order to get the
desired amount of success. The Commonwealth bank of Australia have also ensured they give
the shareholders the necessary levels of confidence for investing in them by bringing the aspect
of adequate levels of transparency. There have been rigorous amounts of supervision that the
necessary levels of investment are maintained in relation to looking after the environment.
The new as well as the updated policies in relation to the Commonwealth Bank of Australia have
managed to inculcate the aspect of Corporate Responsibility strategy. This concept has managed
to guide the potential aspect of vision and also manage to enhance the level of well being for the
people, communities as well as the other businesses.
The commonwealth bank of Australia has managed to inculcate the aspect of Group
Environment policy. It has thus managed to acknowledge the efforts to curtail the rising levels of
global warming. It has managed to render its support in reduction of the over dependence in the
utilization of the fossil fuels as well as mitigate the adversities that have been caused as a result
of the climatic change (Ammendolia et al. 2016).
b. Review Report of CBA Sustainability Policy Implementation
Pollution has led to the deaths regarding a large number of people in every year. The UN
enforcement Assembly is regarded as the largest decision making body that concentrates its
entire focus on the environment. It has managed to gather itself in Nairobi which is located in
Kenya. As professed by Policy & Manual (2016), the Government of the UN tends to invite the
governments in order to make the voluntary commitments and also manage to send a powerful
message to the various leader s that are present across the assembly so that they take the urgent
efforts in order to curtail the amount of pollution.
There has been a prevalent gap in the management of industrial chemicals. Therefore there have
been established systems that have ensured the aspect of worker as well as public health. It has
also started to ensure that the safety regulations have been thoroughly maintained. There is
unfortunately no level of national framework in maintaining the desired levels of industrial
chemicals in Australia that is in all likelihood going to damage the environment.

WORKPLACE POLICY AND PROCEDURES 12
As propounded by (Raineri & Paillé 2016), in the year of 2015, there was a collective decision
that was taken by the various federal, state as well as the territory governments to be able to
establish the National Standard for risk management. This aspect helped in the proper treatment
of the industrial chemicals that was acting as a deterrent to the environment. The objectives of
the National Standard for the aspect of environmental and risk management is to achieve the
levels of protection of the various aspects of the environment for proper management of the
chemicals that are filtered out from the universities.
c. Life Cycle management approaches
The aspect of life cycle management practices is a crucial concept that helps in the aspect of
improving the desired quality of the services as well as the goods. The aspect of the life cycle
thinking as well as the product sustainability is critical to the Commonwealth bank of Australia .
It helps in reducing the aspect of environmental burden while also ensuring there is a certain
level of maximization of the social as well as the economic value. The aspect of the life cycle
management is that it does not concentrate on the aspect of the short run and therefore it has laid
its entire emphasis on the long run utilization and commitment (Policy & Manual 2016)..
There needs to concrete amount of business policies and strategies that needs to be inculcated by
the commonwealth Bank of Australia. This is to see that the aspect of life cycle sustainability is
maintained. The methods as well as the tools that ensure the life cycle sustainability management
must be ensured. It needs to cover the vast areas of economic, social as well as the environmental
aspects. These are critical in ensuring the success and brand value of the Commonwealth bank of
Australia.

WORKPLACE POLICY AND PROCEDURES 13
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