A fundamental transition is needed to decarbonise our economy. By lending and investing in solar, wind and hydro energy, Triodos Bank stimulates this transition. We also finance and co-finance projects that increase the use of renewable resources, reduce the demand for energy and promote energy efficiency.
By the end of 2021, Triodos Bank and its climate and energy investment funds were financing 586 projects (2020: 561) in the energy sector. These included:
494 sustainable power-generating projects related to wind (196), solar (267), hydro (29), or a combination (2)
52 sustainable power projects in a construction phase
40 energy-efficiency projects including 19 heat and cold storage projects, 1 greenhouse gas-neutral biomass project and a diverse range of energy-efficiency initiatives.
Through our share in these renewable energy projects, about 0.8 million tonnes of CO2 equivalent emissions were avoided (2020: 0.9 million tonnes). Notable decrease compared to last year is due to less favourable weather conditions in 2021, to a lower share in projects financed (attribution factor), and to a small extend to updated emission factors that incorporate the increased supply of renewable energy on the market.
The total capacity of the power-generating projects was 6,000 MW (2020: 5,100 MW), producing the equivalent of annual electricity needs of 6.0 million households worldwide or almost 700,000 based on an attribution approach (2020: 700,000).