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Socially responsible banking at Teachers Mutual Bank Limited.

Updated ESG (Environmental, Social and Governance) Exclusions Policy published

30 September 2021

Investing money responsibly and ethically under strict rules. We do not lend to or invest in industries that harm our society or our world.

Environment Social and Governance (ESG) issues are embedded in our lending and investment practices, as well as written in our Treasury Credit Risk Management Policy and Lending Risk Policy

Various lending and investment opportunities are disqualified from the Bank’s lending origination business for ESG exclusion criteria. Credit is for consumer lending and can only be provided to individuals or members. Therefore the Bank does not provide finance (i.e. directly lend to, invest in or buy equity or debt) to corporations that operate in these industries:

  1. Alcohol (production and distribution) 
  2. Controversial weapons manufacturing and sales (cluster munitions, anti-personnel mines, nuclear, biological and chemical weapons, depleted uranium)
  3. Animal cruelty (testing on animals, live exports) 
  4. Cryptocurrency
  5. Gambling (products or services or operations and ownership)
  6. Fossil fuels (coal, oil and gas - exploration for and extraction of reserves, exports, combustion for power generation, major suppliers to the oil, coal and gas industries) 
  7. Logging
  8. Palm oil (non –RSPO production, distribution and significant ownership)
  9. Pesticides
  10. Nuclear power (including uranium mining, excluding medical uranium use) 
  11. Pornography (production or ownership or operation or distribution)
  12. Tobacco (growing and production retailing and sales, packaging)
  13. Industries that create environmental degradation, human rights abuses and labour rights violations.

Access the Policy here: tmbl-esg-exclusions-policy-august-2021.ashx