Triodos Bank identifies three general stakeholder categories:
Those that have economic relationships with the business
Those without an economic relationship but with a close interest in Triodos Bank from a societal perspective
Those that provide new insights and knowledge
For each category we have identified specific stakeholder groups, including the influence they exert on Triodos Bank and the expectations they have of us. The table below gives an overview of all major stakeholders and how they link with relevant topics.
Most relevant topics (see Material topics)
Category: stakeholders that engage in economic transactions with Triodos Bank
Clients expect excellent banking and financial services.
They expect Triodos Bank to put their interests first.
Clients are essential to achieve our mission.
Depository Receipt holders
Influence on and expectations regarding how Triodos Bank strikes a balance between return on investment and social, environmental and cultural returns.
Influence on and expectations of Triodos Bank’s ability to create a working environment that’s inspiring, healthy and welcoming.
Expect and contribute to a workplace where each co-worker finds room to address the important questions of our time and where each individual can work effectively in line with the mission and values.
They expect Triodos Bank to a responsible and reliable business partner.
They are partners in our mission for a more sustainable world.
Category: stakeholders that have a close interest in Triodos Bank
Influence on and expectations of Triodos Bank’s ability to execute its mission in a responsible and ethical way with a positive impact on society and the environment.
Governments and regulators
Influence on and expectations of Triodos Bank’s ability to execute its mission in a responsible and ethical way
Expect us to be compliant with laws and regulations.
Local communities expect to benefit from our financial activities.
The financial sector is key to achieving our mission to increase the positive impact of finance on society and the environment (our mission to change finance).
The media influence public opinion about Triodos Bank and about the topics that are relevant for our mission
Category: stakeholders that provide knowledge and insights
Advisors and influencers
They prompt us to reflect, rethink and explore new territory
Material topics and current developments
We performed a thorough analysis of our material topics in 2019, including a consultation with our stakeholders. This analysis led to 14 material topics. Triodos Bank co-workers in senior positions are topic owners and have responsibility for each of these topics and the associated stakeholder engagement.
Based on our thorough analysis last year, the material topics in 2020 remain unchanged. However, we have seen two relevant societal developments which have an impact on Triodos Bank. First, the Covid-19 pandemic confronted society, including our stakeholders, with unexpected challenges. Second, the Black Lives Matter movement increased the urgency of making progress towards a more diverse and inclusive society. These developments have been extensively discussed with stakeholders throughout the year, both internally and externally.
This year we have done interviews with a selection of our topic owners regarding developments and/or progress made in 2020 with regard to their specific topics. These topic owners represent the topics that were addressed in the central stakeholder meeting of 2019: thought leadership, social inclusion, responsible employer, and sustainable suppliers. The results of these conversations have been incorporated in the texts about these topics below.
Stakeholder meeting and survey
The 14 material topics, the COVID-19 pandemic and promoting diversity and inclusion were included in the annual stakeholder survey. This was distributed to representatives from all the specific stakeholder groups in the countries where we have banking activities. We also asked stakeholders to identify other possible issues, which are not currently included.
The survey and the materiality matrix provided us with important input for this year’s materiality analysis. We also incorporated the feedback we received at the Annual General Meeting and our participation in various global strategic bodies. The analysis is supplemented by input from the topic owners and several stakeholder events and interactions during the year, including sector-specific events in various countries.
As a result of the pandemic, Triodos Bank’s annual stakeholder meeting was, for the first time in our history, held virtually in 2020. The 25 attendees represented all stakeholder groups. Several of Triodos Bank’s topic owners participated in discussions about the areas for which they have responsibility.
The first plenary session discussed the public role of Triodos Bank during the coronavirus pandemic. Our stakeholders advised us to establish a knowledge platform, which could function as an online community where stakeholders could get in touch with each other and we could share our vision on topics such as sustainability and social inclusion during the post-pandemic recovery.
The second plenary session considered initiatives Triodos Bank could finance to stimulate social inclusion. One interesting remark was that Triodos Bank should not view social inclusion as a separate topic, but instead include it in other themes, such as food and agriculture, and energy and climate.
We hosted a break-out session on diversity and social inclusion in Triodos Bank where stakeholders emphasised the importance of increasing diversity within the bank. Another session focused on digitalisation in society and the dilemmas this brings for Triodos Bank, for example regarding privacy and data protection. Many stakeholders agreed that Triodos Bank should give its customers more freedom in choosing which digital payment systems they want to use, as long as we inform them of the risks and costs.