Teachers Mutual Bank Ltd position on climate change and fossil fuels Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank Community 2017 Teachers Mutual Bank Ltd position on climate change and fossil fuels 19 May 2017 19 May 2017 Teachers Mutual Bank Ltd position on climate change and fossil fuels 1. The environmental damage created by banks is largely from the negative impacts of their lending and investments, rather than their direct footprint. The major environmental issue is climate change. 2. Teachers Mutual Bank Ltd (TMBL) has zero direct investment in any large-scale greenhouse polluting activity or company. 3. TMBL does not use members’ funds to finance large-scale greenhouse-gas pollution. 4. TMBL 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.] 5. TMBL's $500m Issuance Programme (DIP) for wholesale investors has been certified by the RIAA (The Responsible Investment Association of Australasia) on the basis that Banks’ Policy is ‘the exclusion of lending to, or investing in, large scale greenhouse gas pollution from fossil fuel exploration, extraction, production and use’. 6. TMBL has invested $450,000 in 612 solar panels and 1,826 LED lights. This ensures that renewable energy is generated across all of our owned buildings. Two buildings export solar power to the grid. All our buildings are net zero. 7. TMBL is a carbon neutral bank, and all members’ accounts are with a carbon neutral bank. More information
