Westpac New Zealand's facing the heat over its commitment to climate action

Parliament's finance committee has been hauling the big banks in for an inquiry into competition in the market and the impacts of sky-high profits.

Green MP Steve Abel asked whether Westpac's climate stance is dishonest, when its Australia business invests nine-billion-dollars in fossil fuels.

Chief executive Catherine McGrath says banks have funded a range of energy for a long period of time.

She says the key focus is on the transition plans to move away from the way we've generated energy in the past.