The environmental damage created by banks is largely from the negative impacts of their lending and investments, rather than their direct footprint. Climate change is the largest and most urgent environmental issue.
Teachers Mutual Bank Limited (TMBL) has zero direct investments in any large-scale greenhouse polluting activity or company.
We do not use members’ funds to finance large-scale greenhouse-gas pollution.
We do not use members’ deposits to directly lend to, buy equity or debt in, a large-scale greenhouse polluting activities, from fossil fuel exploration, extraction, production and use.
TMBL is an issuer of Certified Ethical Investment product.
Our $500 million Debt Issuance Programme for wholesale investors has been certified by the RIAA (Responsible Investment Association of Australasia) on the basis that Banks’ Policy is ‘the exclusion of lending to, or investing in, large scale greenhouse gas pollution from fossil fuel exploration, extraction, production and use.
We have achieved ‘net zero’ buildings for all owned buildings via solar power, LEDs and carbon offsets.
We have completed our mandatory installation of solar PV and LEDs on all new buildings.
In 2017, solar power generated 58% of the electricity use at our UniBank office.
We are a carbon neutral bank, and all members’ accounts are with a carbon neutral bank.