In this section, we reflect on the progress made during 2022 in realising our strategic objectives, encapsulated by our three strategic themes: One Bank, Unlocking our Purpose, and Frontrunner in Responsible Finance.

Our strategic themes and corresponding objectives follow our goal to finance change and change finance, our vision, and the input we obtain from internal and external stakeholders. Ultimately, Triodos Bank wants to enable individuals, institutions, and businesses to use money more consciously in ways that benefit people, the environment and promote sustainable development. This is what sets us apart and defines our distinctive position in the financial industry.

Progress made in the implementation of strategic themes, 2019-2022

The strategic objectives are derived from our original 2019-2021 Group Strategic Plan (GSP), which we have extended until end of 2023. Our intention is to transform and make progress through the relationships and interactions with our clients and stakeholders and use our influence to create positive impact in society. In 2022, we continued with the execution of the strategic objectives we defined, while simultaneously working on our direction for the coming years. Our intention is to transform and develop our organisation through the relationships and interactions with our clients and stakeholders and by extending our influence beyond the organisation to create positive impact in society.

The table that follows provides an overview of Triodos Bank’s key objectives in 2022 and reviews progress made. The progress-at-a-glance column gives a summary assessment of 2022 for each objective, based on our internal monitoring and progress reports. The results in 2022 show that, despite the continued impact of the COVID-19 pandemic and adverse effects of geopolitical instability, the energy crisis and record inflation, we steered the business towards stable results and realised important milestones.

Our strategic themes in 2022-2023

1. One Bank

Redesigned, responsive and robust.

We strive to improve our operating model to become a more integrated and aligned bank with an adjusted operating model to meet the risk-return-impact requirements. For this, we work to realise better customer experience and responsiveness to customer needs via unified, digitally supported processes. In addition, we strive to embed for our organisation a step-change in efficiency and being in-control.

2. Unlocking our purpose

Enabling customer engagement; activating our communities.

We strive to ensure in our customer propositions, explicitly connecting them to the impact we wish to create in the world. For this, we seek to enable customers and communities to take action in realising impact and to become a reference sustainable finance platform, offering products with a purpose and impact investment solutions.

3. Frontrunner in responsible finance

Leading by example; innovating finance for impact.

We aim to take a leading role in the transition of the financial system by adopting a frontrunner position. For this, we not only aim to change finance by advocating for sustainability and human dignity in banking but also endeavour to finance change by addressing major sustainability challenges through finance.