Climate Action

Feel good that your bank never directly lends money to the fossil fuel industry.

Climate Action

We want the next generation to live in a better world. So we invest in social and environmental programs that help create positive change now for a better tomorrow. We believe profits should help create A Brighter Future.

  • Overview

    Action on Climate Change

    • We do not directly invest in or source money from the fossil fuel industry. 
    • We  were 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 cut our emissions as we grow.  Since the 2015 Paris Agreement, we have cut our emissions by 56% while our assets grew by 88%. Annual Scope 1 and 2 greenhouse gas emissions reduced by 56%, and our Asset emissions intensity reduced by 77% from 0.38 to 0.09 tCO2-e per million $ of assets.
    • The Bank’s total and committed investment is $ 2.8 million to reduce its direct greenhouse gas emissions from offices, buildings,and cars. 
    • We are on track to reach 100% EV corporate car fleet by 2027 – deploying 31 EVs and 10 charging stations at four Bank offices in Sydney, Brisbane, and Perth, plus 2 EV utes. 

    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.

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  • Climate change

    Climate change

    Tackling one of the world’s biggest challenges: climate change.

    The environmental damage attributable to banks comes largely from the negative impacts of their lending and investments, rather than their direct footprint.

    Our policy is;
    • Teachers Mutual Bank has zero direct investment in any large-scale greenhouse polluting activity or company.
    • Teachers Mutual Bank does not use members’ funds to finance large-scale greenhouse-gas pollution.
    • Teachers Mutual Bank does not use members’ deposits to directly lend to, buy equity or debt in, any large-scale greenhouse polluting activities from fossil fuel exploration, extraction, production and use.

    Climate change is addressed more broadly across the Bank in our Sustainability Policy and other policies, in such areas as risk, reporting and disclosure, waste, supply chain and sourcing, car fleet, environmental education and grants, energy efficiency.

  • Greening our business

    Greening our business

    Investing in an electric future

    We purchased an electric car for our HQ fleet use. This ‘game-changing vehicle’ is a Long Range Holden Volt electric car; free of the normal range anxiety, having two power sources and a total driving range of 600km. “We just plug the car in and charge it like a mobile phone. A typical 60km a day commute means that the purchase of petrol is generally unnecessary,” said Steve James, CEO.

    ”We continually manage our environmental footprint, and utilising this innovative technology is another way of putting our sustainability money where our mouth is."
    Steve James, CEO Teachers Mutual Bank

    As the HQ fleet vehicle, the Teachers Mutual Bank car will be used throughout urban and suburban Sydney. Because it’s state-of- the-art, with no outward signs that it’s battery electric, we added the livery ‘This car is electric’ on the rear to spread the message that it’s a touch-point of sustainability in action.

    “The Teachers Mutual Bank electric car will be visible to thousands of people as our staff drive it between our offices and to schools around greater Sydney, and our aim is to send a positive message about practical environmental solutions.”

    The Volt is not a hybrid, it is a battery electric car with an on-board generator, and is designed to spend most of its life being propelled by battery power alone, powered by General Motors’ revolutionary electric propulsion system with a 16.5kWh lithium ion battery that provides an electric charge of 87km.

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