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In 2016 we have strengthened our position as a sustainable business leader while achieving strong financial growth, demonstrating to other institutions that ethics and profitability need not be mutually exclusive.
Sustainability is one of our core values. We strive to create a better future for our members and the community through investing in ethical and sustainable business practices.
We put sustainability at the forefront of our business, and integrate it throughout our operations, systems and relationships. We make sure we are accountable, and benchmark ourselves against world leaders in sustainability. We aim to continually improve and report annually on our progress.
1. Named one of the World’s Most Ethical Companies for the 3rd year in a row. We are one of four banks listed, and one of two Australian companies.ii
2. Recognised as 2016 Employer of Choice for Gender Equality by the WGEA. We are one of 106 organisations that are championing gender equality among their workforce.
3. Issued a $100m ethical bond - an Australian banking first. It is the first certified ethical investment wholesale cash product in Australia, and the first based on fossil fuel lending and investing exclusion.
4. Named Best Bank in Socially Responsible Performance (ESG) for the 2nd year in a row at the 2016 Australian Retail Banking Awards.iii
5. Exceeded the ASX average of the % of females at all leadership levels; 44% of our Board members, 25% of our Executive team and 38% of Management were women.
6. Achieved global leadership in community investment, for the 5th year in a row with an investment of 5.39% of pre-tax profits (5.39% NPBT, equal to 7.98% NPAT). As measured by the London Benchmarking Group this is 10 times the Au&NZ average, 17 times the Au&NZ finance/insurance sector average, and 5 times the international average.iv
7. Scored an employee satisfaction rating of 83%, employee engagement of 82%, staff retention rate of 92%, and 85% of our employees would recommend Teachers Mutual Bank as a good place to work.v
8. Consistently achieved a member satisfaction score of 90% or higher, based on the monthly Roy Morgan Research Consumer Banking Satisfaction Survey.vi
9. Backed the professional development of teachers by sponsoring 171 teacher conferences and events.
10. Launched a new partnership with Life Education Queensland to assist them deliver school-based health and drug education programs.
11. Raised $24,336 from Workplace Giving and Staff Fundraising at our charity days, an average of $52 per FTE.
12. Invested $60,000 to the CUFA Cambodia Financial Literacy Project to help provide education programs to 10,000 primary school children at 40 schools.
13. Donated $10,000 to Save the Children Australia to help supply life-saving aid to Fiji after Cyclone Winston.
14. Maintained status as a carbon neutral bank for the 5th year in a row.vii
15. Achieved net zero buildings with a $450,000 investment in 612 solar panels and 1,826 LED lights. Two buildings export solar power to the grid.viii
16. Ensured 99.5% of paper use is from a certified sustainable source, and 64% of paper is certified carbon neutral.
17. Reduced water consumption in our NSW buildings by 43%.
18. Introduced mandatory Sustainability training for all employees at Teachers Mutual Bank and UniBank.
19. Recognised by industry awards including Finalist, Large Business Sustainability Leadership (Banksia Sustainability Awards), Joint Winner, Climate Change Leadership (NSW Government Green Globes) and Finalist, Sustainability and Environmental impact (FM Industry awards for Excellence).ix
20. Reported against our 95 targets and KPIs.
i References and more detailed information in the http://www.tmbank.com.au/~/media/about-us/corporate/pdf/annual-report/teachers-mutual-bank-annual-report-2016
ii The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practice. The World's Most Ethical Company assessment is based upon the Ethisphere Institute’s Ethics Quotient (EQ) framework and honours superior achievements in transparency, integrity, ethics and compliance. The 2016 award includes Unibank. UniBank is a division of Teachers Mutual Bank Ltd, a 2016 World’s Most Ethical Company. www.ethisphere.com.
iii In 2016, the Australian Banking & Finance Awards were renamed as the Australian Retail Banking Awards hosted by the RFI Group and AB+F. This award recognises companies who demonstrate environmental protection, respect for human rights, the continuing improvement of working employment and relations conditions, social commitment, responsibility attitudes with suppliers and customers and transparency and effectiveness of corporate governance. http://www.australianbankingfinance.com/
iv The LBG is the global standard for measuring and benchmarking corporate community investment. The LBG model provides a comprehensive and consistent set of measures to determine an organisation’s contribution to the community, including cash, time, in-kind donations, and management costs.http://www.lbg-australia.com.
v Data taken from Teachers Mutual Bank’s Employee Attitude Survey 2016, conducted by Quantum Management Indicators. This data includes UniBank.
vi Roy Morgan Customer Satisfaction Awards are based on data from Roy Morgan’s Consumer Single Source survey(over 50,000 consumers annually), as well as Roy Morgan’s Business Single Source survey (over 12,000 business decision makers annually). These two large, nation-wide studies provide a thorough and accurate way to identify and recognise Australia’s top businesses in Customer Satisfaction.
vii We offset our greenhouse gas (GHG) emissions from electricity and fuel use (Scope 1 and Scope 2).
ix The Banksia Foundation Large Business Sustainability Leadership award recognises a large business that has demonstrated leadership by fully integrating sustainable principles and practices into operational business activities, reducing the organisation's footprint and adding value to society http://banksiafdn.com/The Climate Alliance Business Leadership Awards recognise Australian business leaders and organisations that have demonstrated leadership by addressing the opportunities or risks presented by climate change. http://www.climatealliance.org.au/The NSW Government’s Green Globe Awards are the leading environmental recognition program, celebrating excellence, leadership and innovation in sustainability. The FM Industry Awards for Excellence are presented by the Facility Management Association of Australia. Each year they recognise leadership and innovation in the management, operation and maintenance of Australia’s built environment across 8 categories. www.fma.com.