Teachers Mutual the only bank recognised as responsible investment leader, now four years in a row
Teachers Mutual Bank Limited has been recognised as a Responsible Investment Leader for the fourth year in a row by the Responsible Investment Association Australasia (RIAA).
Teachers Mutual Bank Limited was also the only bank to receive this recognition, now for the fourth year running.
RIAA defines Responsible Investment Leaders as organisations placed in the top 20% of those assessed according to their stringent standards. According to RIAA, this performance recognition demonstrates leading practice in the bank’s commitment to responsible investing, which includes consideration of environmental, social and governance factors in investment decision making, strong and collaborative stewardship, and transparency in reporting societal and environmental achievements.
Corin Millais, TMBL’s Head of Sustainability and ESG, said, “This latest accolade provides further evidence of our commitment to responsible investing, and that we invest our customers’ money responsibly and ethically. No other bank has achieved RIAA’s leadership standard in 2024.
“The bar set by RIAA this year was higher than in 2023, with more refined responsible investment standards to meet growing expectations of responsible investment leadership—making our recognition an exceptional achievement.
“Recent research by RIAA has revealed that 87% of Australians expect the money in their bank account to be invested responsibly and ethically. That’s a compelling opportunity for banks to lead on environmental, social and governance issues, and invest responsibly.”
Highlights: Teachers Mutual Bank Limited’s responsible investment
- All home loan and deposit products provided by Teachers Mutual Bank Limited this year are RIAA certified, at no additional cost to their customers.
- Teachers Mutual Bank Limited is one of only 57 banks worldwide to be a Certified B Corporation (B Corp) bank—part of the global movement for an inclusive, equitable, and regenerative economy.
- Awarded the Banksia Foundation’s Large Business Sustainable Leadership Award 2024.
About the Responsible Investment Association Australasia (RIAA):
The Responsible Investment Association Australasia (RIAA) champions responsible investing and a sustainable financial system in Australia and New Zealand. RIAA is dedicated to ensuring capital is aligned with achieving a healthy society, environment and economy. With over 500 members representing US$29 trillion in assets under management, RIAA is the largest and most active network of people and organisations engaged in responsible, ethical and impact investing across Australia and New Zealand. Their membership includes super funds, KiwiSaver providers, fund managers, banks, consultants, researchers, brokers, impact investors, property managers, trusts, foundations, faith-based groups, financial advisers and individuals. By joining RIAA, members commit to support RIAA to deliver on the mission, beliefs and objectives of the Association as set out in RIAA’s Constitution and as operationalised in the RIAA FY24-26 Strategy. In May 2024, RIAA obtained an Australian financial services (AFS) licence by the Australian Investments and Securities Commission (ASIC) for the provision of general financial product advice to retail and wholesale clients covering its Sustainability Classifications Initiative within the RIAA Certification Program.