Bank’s emissions intensity down by ~50% over 5 years
27 April 2021
Teachers Mutual Bank Ltd has significantly reduced its overall greenhouse gas (GHG) emissions and its emissions intensity as part of its commitment to be a world-leading, socially responsible bank.
An independent assessment of the Bank’s performance found that it reduced its emissions intensity by 54% (assets) and 45% (employees) during the five years between 2016 -2020. The Bank also reduced its overall emissions by 666 tCO2-e (32%). This reduction has been achieved despite the Teachers Mutual Bank group also growing considerably during this period in terms of total assets, members, staff and number of offices.
Other key facts from the report show that the Bank:
- has been a net zero bank for all Scope 1 and 2 emissions (electricity and fuel use) since 2012
- has invested $690,000 over 5 years in reducing emissions at its buildings with 83% of this ($570k) spent on solar PV and LED installations
- avoided emissions of over 400 tonnes per year, relative to BAU from its installation of solar PV and LED lamps
- is expected to avoid more than 7,000 tonnes of emissions against BAU over the lifespan of its installed solar PV panels and LED lamps.