Wholesale Short Term Deposits (STDs)

Product Name

Wholesale Short Term Deposits (STDs)

Issuer

Teachers Mutual Bank Ltd

Category

Banking

Type

Term Deposit/Short Term Deposit

Target

Wholesale

Certified Since

2019

Asset Classes

Cash

Markets

Australia

Investment Approaches

Negative Screening, Minimum-standards (norms-based) screening

It Includes:

  • No inclusions5 No specific themes

It has some level of screening for:

    It fully excludes:

    • Riaa icons 41 Alcohol
    • Riaa icons 56 Animal cruelty
    • Riaa icons 36 Armaments
    • Riaa icons 33 Fossil fuels
    • Riaa icons 42 Gambling
    • Riaa icons 52 Human rights abuses
    • Riaa icons 38 Labour rights violations
    • Riaa icons 34 Logging
    • Riaa icons 50 Nuclear power
    • Riaa icons 99 Pornography
    • Riaa icons 35 Tobacco

    Overview

    Teachers Mutual Bank Limited (‘The Bank’) Wholesale Sector Short Term Deposits (STDs) Funding. STD funding is comprised of :Negotiable Certificates of Deposit (NCDs), Wholesale term deposits, and Wholesale overnight deposits (11am cash- aT call) . Certification covers all new Wholesale STDs sold/issued by the Bank to any of the Bank’s counterparties. Wholesale Short Term Deposits (STDs) are Certified Responsible because these products are subject to ESG exclusion criteria that applies across 13 categories such as fossil fuels and tobacco. That is, a wholesale counterparty who purchases these short term instruments is guaranteed that their funds are not lent to these industries.


    Description


     Wholesale Short Term Deposits (STDs)  are Certified Responsible Investment because these products are subject to  ESG exclusion criteria that applies across 13 categories. 


    Various lending and investment opportunities are disqualified from the Bank’s lending origination business for ESG (Environment Social and Governance) exclusion criteria. Credit is for consumer lending and can only be provided to individuals or members. Therefore the bank does not provide finance (i.e directly lend to, invest in, buy equity or debt) to corporations that operate in these industries; 

    1.           Alcohol (production and distribution) 
    2.           Controversial weapons manufacturing and sales (cluster munitions, anti-personnel mines, nuclear, biological and chemical weapons, depleted uranium)
    3.           Animal cruelty (testing on animals, live exports) 
    4.           Cryptocurrency
    5.           Gambling ( products or services or operations and ownership)
    6.           Fossil fuels (coal, oil and gas - exploration for and extraction of reserves, exports, combustion for power generation, major suppliers to the oil, coal and gas industries) 
    7.           Logging
    8.           Palm oil (non –RSPO  production, distribution and significant ownership) 
    9.           Pesticides 
    10.         Nuclear power (including uranium mining, excluding medical uranium use) 
    11.         Pornography (production or ownership or operation or distribution)
    12.         Tobacco (growing and production retailing and sales, packaging)
    13.         Industries that create environmental degradation, Human rights abuses and labour rights violations  

     

     ESG exclusions described do not apply for the uses derived from the provision of credit to members, for example to purchase alcohol or petrol.

    Other products certified by the Responsible Investment Association Australasia (RIAA)

    Teachers Mutual Bank Limited $500m Debt Issuance Programme - Information Memorandum dated 29 September 2014

    Teachers Mutual Bank Limited $500m Debt Issuance Programme – Information Memorandum dated 26 November 2018

    Teachers Mutual Bank Ltd Deposit products

    Teachers Mutual Bank Ltd Mortgage products

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