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Teachers Mutual Bank (TMB) has leapt up the international CSR ladder, jumping from Bronze to Gold status in the prestigious annual Corporate Responsibility (CR) Index published on April 17th in the Financial Times in London. Achieving Gold status with a score of 90%, Teachers Mutual Bank significantly increased its rating from its previous bronze status of 79% in 2012.
Teachers Mutual Bank – relatively small by comparison – has achieved one of the highest of CSR accolades against heavyweight international CR Index member competition that includes Barclays Bank, the BBC, Zurich, Marks and Spencer.
Steve James, CEO of Teachers Mutual Bank, said: “As a small Australian financial institution competitively benchmarked against large global companies, we’re punching well above our weight, not only in the finance sector but against all sectors. Achievement of Gold status shows that we are a responsible business and that, for us, CSR is built-in, not bolted on.”
“As a mutual bank, we believe that profit has a purpose. In the past 12 months, we’ve continued to improve our organisational performance to become a national and international leader in sustainability. We are honoured to receive such a high accolade for our effort.”
View Teachers Mutual Bank CRI report card
About the CRI
Developed in the UK, the CR Index is one of the world’s leading and most in-depth voluntary benchmarks of corporate responsibility for business. The CR Index follows a systematic approach to managing, measuring and reporting on business responsible business practices. For more on the CR Index http://www.bitc.org.uk/
CR Index sections
TCU1 score in April 2012
TMB score in April 2013
TMB change to 2013
CRI all 107 companies average score
*Issue where TMB scored higher than the CRI 107 member index and the finance sector average.