Teachers Mutual Bank Limited commits $20 billion as first bank in Climate League 2030
17 May 2021
Teachers Mutual Bank Limited today became the first bank to join Climate League 2030, an initiative led by the Investor Group on Climate Change (IGCC) to reduce Australia’s emissions in line with the Paris Agreement.
As part of this, the Bank committed to $20 billion in new Certified Responsible Investment products by 2030 with zero fossil-fuel industry investment. Teachers Mutual Bank Limited is the only Australian bank with all retail deposits, mortgages and wholesale funding certified as responsible investment Responsible Investment Association Australasia (RIAA).
Teachers Mutual Bank Limited Chief Executive Officer Steve James said: “We are so proud to be the first bank to sign up to the Climate League 2030 initiative. Now is the time for action and we will continue to work collaboratively with our peers in the finance industry to help secure a healthy Australian economy.”
IGCC Chief Executive Officer, Emma Herd, said: “Helping deliver Paris-aligned emissions reductions by 2030 is responsible action to help secure a healthy economy for Australia…We are proud to have our first bank partner on board.”