Action on climate change

As a bank, we can have an impact on climate change.

Action on climate change

Teachers Mutual Bank Limited is taking active steps to combat climate change through our credit and lending policies and other initiatives.

  • Banking that does not support the fossil-fuel industry.

    We have pioneered banking without fossil fuels. We do not invest in or take money from the fossil fuel industry – across our entire balance sheet.

    Climate firsts

    In 2015, we were the first bank to Certify Debt with zero investment in the fossil fuel industry, the first and only bank to offer both wholesale and retail, the first bank to offer these as standard to all members.

    We are the first bank to sign up to the investor-led Climate League 2030 position calling for cuts to Australia’s emissions by at least 45% by 2030 in line with the Paris Agreement. 
    • We have been net zero for our direct greenhouse gas emissions since 2012. (Direct means Scope 1 and 2, our own electricity, gas and fuel use)

    We cut our emissions as we grow

    • In the past five years, whilst total assets increased 76%, we reduced our Scope 1&2 emissions by 47% and our emissions intensity by 70%. 
    • We have invested $850,000 in emission reduction measures. 83% of this is on solar PV, LEDs and EVs, with 3,000+ energy efficient LED lamps and 641 solar panels generating around 18% of our total electricity consumption.

    We know there’s a lot more to do to help the world avoid catastrophic climate change and we’re committed to working even harder.

    Read more about our action here