The bank has been named one of the World's Most Ethical Companies for 10 years running
One of Australia’s largest customer-owned banks has once again made it onto an esteemed international list for its ongoing commitment to global ethical leadership.
Teachers Mutual Bank has been named by Ethisphere as one of the World’s Most Ethical Companies for the 10th consecutive year and is one of only four banks to have received the honour this year.
“To achieve this milestone is testament to the bank’s purpose and that social responsibility drives everything we do – our products, practices, and people,” said Steve James (pictured above left), Teachers Mutual Bank CEO.
“There is a growing tide of socially aware consumers who are sending a strong message by demanding ethical and sustainable practices from their financial institutions. As a certified B Corporation and as the only Australian bank to receive certification from Responsible Investment Association of Australasia for all of our retail deposits, mortgages, and wholesale funding, our members choose to bank with us because they support the way we do business, and they want their money to help create positive change in the community.”
Erica Salmon Byrne, The Ethisphere Institute CEO, congratulated the bank for the recognition, saying the honour demonstrates the bank’s ongoing commitment to global ethical leadership.
“Every year, the Ethisphere methodology evolves to address new and emerging ethics, compliance, and governance best practices – and in 2023, 40% of the assessment was updated,” Byrne said. “We congratulate the Australian Teachers Mutual Bank Limited on its continual improvement and dedication to advancing its business with integrity.”
Corin Millais (pictured above right), head of social responsibility at Teachers Mutual Bank, said being named as a 10-time honoree demonstrates the bank’s ongoing commitment to global ethical leadership.
“Certification is the cure for greenwash,” Millais said. “For more than a decade, we’ve invested in the toughest ESG standards, because third-party assessments give people proof that we can be trusted, that we are a leader and that we really are a force for good in banking. Global recognition from the Ethisphere Institute proves to our members that we meet stringent ethical standards.”
Recipients of the World’s Most Ethical Companies award were assessed by The Ethisphere Institute on more than 200 individual areas including culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives that support a strong value chain.
“At Teachers Mutual Bank Limited, we measure ourselves against some of the toughest world standards and are ranked against thousands of global companies,” Millais said. “World’s Most Ethical Companies measure the entire bank, applying a rigorous evaluation framework, not a one-off project or activity.”
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