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Independence and Self-evaluation

Independence

The composition of the Supervisory Board was such that members could act critically and independently of one another, the Executive Board and any other interest. The Supervisory Board complies with the independence criteria of the Dutch Corporate Governance Code. Aart de Geus deviates from one of the independence criteria (article 2.1.8) of the Dutch Corporate Governance Code because a family member is a Triodos Bank co-worker.

Conflicts of interest

In accordance with the requirements of the Dutch Corporate Governance Code, the Supervisory Board has internal rules in place that govern any actual or potential conflicts of interest of Board members. No conflicts of interest occurred during 2017.

Education

As part of the Supervisory Board’s permanent education programme, it organises annual meetings with both internal and external experts. This helps inform the Supervisory Board about contemporary, developments in society and the sectors that have an impact on Triodos Bank’s operations. In 2017, education sessions were organised on the following topics: digitalization, Triodos’ investment offering, the Spanish banking market, the regulatory landscape, banking in a European environment and innovation.

Self-evaluation

The results of the 2016 self-evaluation were discussed by the Supervisory Board and recommendations have been implemented as a result. The Supervisory Board’s annual self-evaluation of the Supervisory Board, its individual members and its committees took place in the last quarter of 2017 by an external facilitator. The results of the evaluations are discussion items for the Supervisory Board in March 2018.

The Executive Board members reflected on their personal key priorities for 2017 and 2018 and shared them with the full Supervisory Board. These priorities are evaluated by the Supervisory Board early in 2018.