Interview with Damien Walsh, Bank Australia (Australia)

I'm Damien Walsh, I'm the Managing Director of Bank Australia, from Australia.

We have twenty-five branches, we operate across the Eastern seaboard.

We have about 125,000 customers and about 350 staff.

The primary sense is that we operate only in the real economy.

So that's mums and dads, retail banking, and small to medium-sized enterprises, where they're operating in the local community.

We don't use financial services to create profits from trading desks, derivatives, other areas of speculation.

It's purely in the real economy.

But I think what's important about values-based banking is that you evidence your values in the communities where you operate.

I think that you have to look at the way that you are creating social impact, environmental impact, How you're protecting and conserving the natural environment whilst also delivering meaningful outcomes for the people and the community.

This is banking where it has people at the heart.

You know it's about serving people, serving communities.

It's not about them serving you.

I particularly enjoyed hearing the Chief of the Reserve Bank of Holland, talk about climate change and taking a long term view as a Chair of a Reserve Bank.

And I think we've heard some similar, narrative out of the Bank of England.

But this is new for me to think about how do I go back to Australia and talk to our Prudential Regulator and the Chair of Reserve Bank (of Australia) and say, 'What role do organisations play in understanding how our economies transition towards sustainable development and deal with intractable problems like climate change?' For me, personally, it's about the CEO networks.

My counterparts from America, Asia, Africa, Europe, emerging economies, developed economies, grappling with showing that their business are relevant but also serving people, serving the economy.

And so that helps me inform our business.

But the other thing that I think is really important is that they are evidencing that values-based thinking is a reality.

It works.

It works in different economies, in different countries.

And I can bring that knowledge back to my business and engage with my Board, engage with my staff, and actually say this is real, this is grounded in fact, and it's sustainable, it's profitable.

And it's actually really delivering meaningful outcomes and I think that's a really valuable part of being part of the Alliance.

And actually growing the Alliance so that you can create that network of organisations to actually build sustainable economies.

Source: Youtube