Social responsibility

Banks can make a difference on climate change.

Acting on climate change

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

  • We don’t invest in the fossil-fuel industry.

    Climate change is the largest and most urgent environmental issue facing us. Now, more than ever before, people are acting with the planet in mind. The environmental damage caused by banks is largely caused by their investment and lending operations for fossil fuels. 

    The Bank does not take money from, or lend to the fossil fuel industry. Our Policy is that we do not;

    • directly lend to, buy equity or debt in any large scale greenhouse polluting activities from fossil fuel exploration, extraction, production and use
    • directly invest in any large scale greenhouse gas polluting (i.e. fossil fuel exploration, extraction, production and use) activities or companies

    Banking products that account for climate. 

    We pioneer innovative financial solutions to combat climate change which are bank wide, not as a green niche.

    We are the only bank in Australia that certifies all our home loans, deposit accounts and wholesale investment products to exclude fossil fuels. 

    Combined, retail and products with no investment in the fossil fuel industry represent about 97% of all products the Bank sells.

    Greening our operations.

    As well as taking action on climate change through our investment and lending policies we are acting on our operations  

    We have  been a net zero bank for all Scope 1 and 2 emissions (electricity and fuel use) since 2012. 

    The bank runs on 100% renewable power.

    Since FY 2016, the Bank has invested $715,000 on emissions reduction measures at its buildings This includes:

    • $270k to install 641 solar PV panels inwhich have generated approx. 16% of the Bank’s total electricity consumption
    • $300k to upgrade lighting in all owned offices with 3,000+ energy efficient LED lamps