Investing in line with the goals of the Paris Agreement
$20 billion of new Certified Responsible Investment products by 2030 that have zero fossil fuel industry investment
Teachers Mutual Bank Ltd is the only Australian bank with all of its retail deposits, mortgages and wholesale funding certified as responsible investment by the Responsible Investment Association Australasia (RIAA). Certification criteria includes zero investment in the fossil fuel industry. 100 per cent of our retail mortgages and deposit products and 100 per cent of all wholesale funding have zero investment in the fossil fuel industry. These products are 97 per cent of all products we sell and are provided at zero cost to customers. As of December 31, 2020, the total RIAA Certified Responsible Investment products on the balance sheet is $6.4 billion for assets and liabilities.
By 2030, Teachers Mutual aims to grow RIAA Certified Products by $20 billion to reach a total of $27 billion for assets and liabilities.