The analysis showed that our stakeholders emphasise Triodos Bank’s importance as a thought leader. As a frontrunner, the bank can stimulate wider change in the banking sector. This is true both for the activities we finance in specific sectors and for the debate about how the banking system can better serve society and meet the challenges we face.

Triodos Bank aims to be a catalyst for change in the banking sector, beyond its immediate activities of financing sustainable sectors. Changing the financial system so that it is better able to serve people while taking care of the environment we depend on is fundamental to our mission, hence its inclusion as a material topic. To do this, we need to not just be experts in banking, but also specialists in financing specific sustainable sectors. That's why we include sector-specific knowledge, as well as being an expert in sustainable finance, within the boundary of this topic.

In 2021, we published our net-zero target, with news articles in several renowned newspapers and news radio. Triodos Bank wants to be net zero as early as possible, by 2035 at the latest. Meeting this target will align our portfolio of loans and fund investments with a maximum global temperature rise of 1.5 degrees Celsius.

Our net-zero target can serve as inspiration for our co-workers and all stakeholders that work with us to act faster and develop more robust plans that allow us, and the financial industry as a whole, to achieve net zero sooner. We want to increase our collaboration with clients, customers and other stakeholders to reach net-zero as one.

Triodos Bank also contributed to the 26th UN Climate Change Conference of the Parties (COP26). We participated in several events, where we discussed – amongst other topics – the urgency of climate action and the importance for all financial institutions of reaching net zero as early as possible.

At a European level, we are following the developments of the EU’s new sustainable finance strategy. We have published our response to the Corporate Sustainability Reporting Directive proposal. We are concerned by recent developments on taxonomy and advocate a taxonomy that is science-based. We are providing input for the new banking package and have published our position on this as well. Our work on this topic is led by Triodos Bank’s Chief Economist and a small team at Head Office as well as by senior management in Triodos Bank’s countries and Triodos Investment Management operations. Most of the resources applied to this work are in the form of people’s time, typically via speaking opportunities, collaboration on working groups and in partnerships.