Verifier’s declaration

Independent assurance report

To the readers of the Triodos Bank online Integrated Annual Report 2011

Introduction

We have been engaged by the Executive Board of Triodos Bank N.V. to provide assurance on the social and environmental report (further referred to as ‘the Sustainability Information) as included in the online Integrated Annual Report 2011. The Sustainability Information, including the identification of material issues, is the responsibility of the company’s management. Our responsibility is to issue an assurance report on this information.

What was included in the scope of our assurance engagement

Our engagement was designed to provide limited assurance on whether The Sustainability Information is fairly presented, in all material respects, in accordance with the G3.1 guidelines of the Global Reporting Initiative supported with the internal reporting.

Procedures performed to obtain a limited level of assurance are aimed at determining the plausibility of information and are less extensive than those for a reasonable level of assurance.

Which reporting criteria did Triodos Bank use

Triodos Bank applies the G3.1 reporting guidelines of the Global Reporting Initiative for reporting on the Sustainability Information. The Sustainability Information should be viewed against this disclosure. We believe that these criteria are suitable in view of the purpose of our assurance engagement.

Which assurance standard did we use

We conducted our engagement in accordance with Standard 3410N ‘Assurance Engagements relating to Sustainability Reports’ of the Royal Netherlands Institute of Register Accountants. This Standard requires, amongst others, that the assurance team possesses the specific knowledge, skills and professional competencies needed to understand sustainability information, identify and collect the thereto related assurance-information and that they comply with the requirements of the Code of Ethics for Professional Accountants from the International Federation of Accountants to ensure their independence.

What did we do to reach our conclusions

We carried out the following work:

  • Reviewing the underlying principles of information management, and reviewing the systems, processes and internal controls for collection and aggregation of the qualitative and quantitative information in the Sustainability Information;
  • Assessing the qualitative information by interviewing staff at corporate and business level and by reviewing internal and external documentation such as minutes of meetings, reports, internet and intranet sources.

As part of our assurance procedures we discussed changes to the draft reports with Triodos Bank, and reviewed the final version of the Sustainability Information to ensure that it reflected our findings.

Conclusions

Based on the procedures performed, as described above, we conclude that the Sustainability Information does not, in all material respects, appear to be unfairly stated in accordance with the Sustainability Reporting Guidelines (G.3.1) of the Global Reporting Initiative.

Amstelveen, 27 February 2012

KPMG Sustainability, part of KPMG Advisory N.V.

W.J. Bartels RA (partner)