Teachers Mutual Bank publishes updated ESG exclusions policies
- We run our bank for people, planet and profit.
- We invest our members’ money responsibly and ethically.
- We don’t invest in or lend money to industries that pollute the planet, and the money borrowed from us never comes from polluting industries.
ESG exclusions and policies apply to 100% of lending and investment , and 100% of Assets and Liabilities, across the whole balance sheet, and 100% of all ‘non-individual’ Company Pty applications.
ESG exclusions are embedded in our lending and investment practices, in our Board approved Lending Risk, Treasury Credit Risk and Wholesale funding policies.
ESG exclusions apply to 13 industries, including Alcohol, Gambling, Fossil Fuels, Tobacco, and ‘Industries that create environmental degradation, human rights abuses and labour rights violations’.
Specifically this means that we don’t invest in, or take money from, the fossil fuel industry – across our total balance sheet.
ESG exclusions and policies underpin our Responsible Investment Association Australasia (RIAA) Responsible Investment Product Certification, recognised as the gold standard. This covers c.98% of all products sold by the Bank: every single retail mortgage, deposit, and wholesale product.