Ep. 26: Banking on a Better Future with Fiona Nixon from Bank Australia
In this episode of The Ocean Impact Podcast Tim speaks with Fiona Nixon, the Head of Strategy and Communications at Bank Australia. With Bank Australia being the Presenting Partner of The Ocean Impact Pitchfest 2020 we thought it was important to dive deep into the origins, focus and future of this unique customer-owned financial institution.
Many people likely know (or care) very little about the impact their bank balance, mortgage or investments have on people and the planet. As long as the money is there and going up (savings/ investments) and going down (mortgage/ debts) then we’re happy.
But an increasing number of conscious consumers care deeply about the impact their funds are having on issues they are passionate about such as: climate change, social justice, inequality, gambling, arms, conservation and animal rights. Movements to divest dollars (particularly superannuation) from institutions and funds embroiled in such investments are growing rapidly alongside increases in ‘shareholder activism’ and the demand for ESG (environmental, social, governance) reform in boardrooms and businesses.
Bank Australia has purpose at its core. Originally established as a credit union for scientists from the CSIRO, the bank has evolved with a purpose built on ‘clean money’ and ‘responsible banking’ to service the growing demands of conscious consumers, future thinkers and everyday bankers alike. A recently certified B Corp, you won’t find many other banks with a carbon neutral stamp and a 954 hectare conservation reserve to their name.
As Head of Strategy and Communications at Bank Australia, Fiona is responsible for the bank’s strategy function and its engagement and communication with staff and customers. Fiona also oversees the Bank Australia Impact Fund, through which the bank invests 4% of after tax profits to create positive social and environmental outcomes.
For more information on Bank Australia please visit: www.bankaust.com.au/
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