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RIAA names Teachers Mutual Bank Limited as the only bank to be a Responsible Investment Leader for third year in a row

Teachers Mutual Bank Limited (TMBL) is the only bank in Australia named a Responsible Investment Leader for the third year in row. This is the highest possible standard for investors for those who demonstrate exceptional ability to deliver on responsible investment promises.

Of the 54 Responsible Investment Leaders, TMBL ranked 11th ahead of 80% (43) of other Responsible Investment Leaders.

Our score of 91.5% increased from 82.5% the previous year, with a broader survey average of 51.5%.

Of the 54 Responsible Investment Leaders worth $1.3 trillion, TMBL ranked 11th ahead of 80% (43) of other RI leaders.

The data is in the annual RIAA Benchmark Report released September 18th 2023.

Definition

  • A Responsible Investment Leader is the highest possible standard for investors.
  • A Responsible Investment (RI) Leader is a responsible investor that demonstrates an exceptional ability to deliver on its responsible investment promises, and uses a rigorous and leading approach.
  • It recognises our commitment to responsible investing and attributes as an investment manager.
  • High standards of stewardship and reporting on outcomes set Responsible Investment Leaders apart from non-leaders.
  • Responsible Investment Leaders are investment managers in the top 20% of scores on RIAA’s Responsible Investment Scorecard.

Tougher leadership test

  • Global markets have moved rapidly to lift expected standards of practise in responsible investment and Australia is no exception.
  • This year, to reflect evolving expectations of responsible investment leadership domestically and internationally, the standard to be named a Responsible Investment Leader was raised.
  • RIAA’s 2022 Scorecard (calendar year released in 2023) consists of 26 questions, compared to just 17 questions in 2021. The Scorecard was revised with new questions, response options and altered scoring of some questions to keep up with market trends.
  • A score of 75% was previously considered the hurdle to be a leader, as standards lifted globally, so too does RIAA’s Scorecard. Leaders are in the top 20% of the Scorecard.

More information:

TMBL Responsible Investment and RIAA Nov 2023

Benchmark Report - Responsible Investment Association Australasia (RIAA)