In 2023, we will build on our achievements in 2022 and continue to refine our strategic direction for the mid- and long-term as part of our strong joint effort to change finance and finance change, supported by a sustainable cost-income ratio (CIR) and return on equity (RoE).

For 2023, we have therefore refined our key objectives across the three strategic themes as follows:

1. One Bank

Redesigned, responsive and robust.

This first objective encapsulates all three transitions (capital strategy, leadership transition and transition of business) as mentioned on page 15.

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 we strive to achieve. 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 a step-change in efficiency and in-control for our organisation.

Key objectives in 2023:

  1. Profitable business lending

  2. Profitable funds under management growth

  3. Profitable mortgage growth

  4. Effectively manage cost and revenues

  5. Implementation of Triodos Operating Model

  6. Restore DR tradability via Multilateral Trading Facility platform

  7. Realise further step-up in compliance

2. Unlocking our purpose

Enabling customer engagement; activating our communities.

We strive to ensure purpose 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 solution.

Key objectives in 2023:

  1. Strong co-worker community

  2. Enhanced client satisfaction

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.

Triodos Bank has developed a focused vision on how we strive to continue to create positive impact. The five interlinked transition themes we have identified to address key societal and environmental issues will serve as a starting point and will shape our direction in the coming years. For more information, please refer to Our impact approach .

Key objectives in 2023:

  1. Decrease the GHG emission intensity of our lending and investment portfolio (Scope 3 - category 15)

  2. Increase the GHG sequestration or absorbance of CO2e of our lending and investment portfolio

Scope of our AsOneToZero ambition

Our target to be net zero by 2035 at the latest encompasses both our own operational emissions as a company, as well as emissions in our value chain, including all our loans and investments. In carbon accounting terms, this is also referred to as Scope 1, 2 and 3 emissions.

Scope 1 covers direct GHG emissions that occur from sources that Triodos Bank owns or controls directly, such as through the use of natural gas for heating and fossil fuel for company and lease cars.

Scope 2 covers indirect GHG emissions from the generation of purchased and consumed electricity, steam, heating and cooling by Triodos Bank, such as electricity for its office buildings or electric fleet vehicles.

Scope 3 encompasses all other indirect GHG emissions that occur up and down Triodos Bank's value chain. Business travel and employee commuting are examples of the upstream emissions. The downstream emissions category 15 is especially relevant for Triodos Bank and all financial institutions because these are the financed emissions, the emissions of all our loans and investments.

For more information about the emissions resulting from our own operations, please refer to the Environmental report . For more information about emissions generated, sequestered and avoided by our financed activities, please refer to Climate impact of our loans and investments .