bank mecu - responsible banking

At the heart of bankmecu is a belief that strong synergies exist between social and environmental responsibility and a cooperative approach to banking. Furthermore,conducting business in a way which reflects the attitudes and values of its owners is considered intrinsic to the creation and delivery of sustainable value. In light of global environmental and economic issues, bankmecu recognises the need in the community for a broader measure of 'progress' and common prosperity than economic growth alone. 

To this end, bankmecu considers it necessary for its reporting to stakeholders to integrate its economic performance with its social, environmental and governance performance. bankmecu has committed to commence work with the Net Balance Foundation to undertake a working case study in the development of an integrated reporting framework for the mutual banking sector. bankmecu aims to implement the resulting developed framework for 2011/12 reporting.

In the interim, bankmecu has moved towards integrated reporting for the 2010/11 financial year by producing an Annual Report rather than separate Sustainability and Annual Reports. Changes in this report include:

• Integrating the former Annual Report and Sustainability Report into the one on-line document to be named ‘Annual Report’, within the current Sustainability Report format.
• An additional ‘Statutory Financial Report’ section within this Annual Report covers corporations law and accounting disclosure requirements.
• The inclusion of an ‘External Commitments’ section outlining how bankmecu is meeting UNEP FI, UN PRI and UN GC commitments.  

bankmecu continues to report against the bankmecu/EPA Covenant and UNEP FI commitments and GRI Indicators as in previous years.

Spotlight - Integrated Reporting