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What it means to be part of the Global Alliance for Banking on Values
We're part of a global network of values-based banks
Bank Australia was the first Australian bank to join the Global Alliance for Banking on Values (GABV).
We are 1 of over 70 banks globally that has purpose at their core, which makes up the Global Alliance for Banking on Values. This means we don't pursure profit at any cost. Instead, we use our profits to help people and the planet thrive and don't invest in harmful industries including fossil fuels and tobacco.
We share a common belief that money can be used as a force for good.
A growing movement for good
We’re an active member of this independent network of banks around the world, all working to support values-based positive change in the banking system. It’s called GABV or the Global Alliance for Banking on Values.
What’s GABV’s vision?
“Our collective goal is to change the banking system so that it is more transparent, supports economic, social and environmental sustainability, and is composed of a diverse range of banking institutions serving the real economy.” - GABV vision
The GABV was founded in 2009 by ten leading banks that believed in the need for a fairer financial system. Today, over 70 banks have become members of the GABV, with presence in more than 40 countries across Africa, Latin America, Asia Pacific, North America and Europe.
Here are some of the ways we put values-based banking into practice:
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No staff incentives for selling accounts
No Executive bonuses
Running on 100% renewable electricity
Our responsible banking policy
Using money as a force for good is key to a future where people and the planet thrive. Our responsible banking policy aligns strongly with GABV’s vision and mission.
For Bank Australia, this means not funding harmful industries like fossil fuels, weapons or live exports – and focusing on our customers, affordable and accessible housing, clean energy transition and protecting nature.
Our impact
As a customer-owned bank, and a certified B Corporation, we balance profit and purpose. We need to be profitable, as good stewards of our customers’ money – and as our impact report shows, we’re achieving this – but we can also choose to actively create impact beyond financial returns, for people and the planet.
