Bank Australia has become the first bank in Australia to have its full range of deposit and home lending products certified by the Responsible Investment Association of Australasia (RIAA) as ‘Responsible’ investments.
The RIAA Certification Symbol signifies that Bank Australia designs and manages its deposit and home lending products in a way that considers environmental, social, governance or ethical impacts along with financial returns.
RIAA certification helps consumers identify responsible investment options that better match their beliefs and personal values.
“This certification strengthens Bank Australia’s position as a bank which actively reflects our customers’ values in how we manage our business” said Acting CEO John Yardley.
“We have made strong public commitments to social and environmental responsibility, from our responsible lending and financial inclusion policies, to supporting our community and the planet through the Bank Australia Impact Fund, and not lending to the fossil fuel industry” Mr Yardley said.
In 2016, CANSTAR reported that by following their values and choosing to bank with Bank Australia, customers were $33.2 million better off compared to the major banks.
“We are very excited about the certification of Bank Australia’s deposit and lending products, at a time when it couldn’t be more important to provide clear, verified and transparent information about the growing range of responsible investment products” said RIAA’s CEO Simon O’Connor.
“This is another step forward in helping the growing number of socially and environmentally aware consumers choose a suite of everyday banking products which reflects their personal values” Mr O’Connor said.
RIAA’s Responsible Investment Certification Program was developed in 2005 and provides investors with standardised and consistent information allowing them to compare and contrast the investment options that have been assessed and verified as responsible.
Further information about RIAA certification is available on the RIAA website at www.responsibleinvestment.org.
Cheyne McKee, Manager, Corporate Affairs
03 9854 4899