Triodos Bank takes third place in worldwide Sustainable Banking League
Bristol-based ethical bank Triodos has taken third place in the in the world ranking of banks based on revenue derived from sustainable lending, investments and underwriting.
The bank was been assessed on the financing of organic farming, sustainable property and renewable energy.
The list was compiled by research company Corporate Knights and UK-based international financial magazine The Banker, using the data of 87 banks participating in the Net Zero Banking Alliance.
Read more: Triodos named Best Ethical Financial Provider at British Bank Awards
The Dutch parent company of Triodos - whose UK headquarters is in Bristol - was placed behimnd the Canadian bank Vancity and the German Procredit Holding AG & Co. KGaA.
According to the researchers, the pace of sustainable financing needs to be significantly increased in order to achieve the ambitious global climate goals.
In 2022, Triodos Bank published its impact vision identifying five interlinked transition themes: food, resource, energy, society and well-being.
Triodos Bank’s mission as a financial institution is to enable and accelerate these vital transitions in order to address key societal and environmental issues, including biodiversity loss, inequality and climate change, and improve life for all through continued financing of, for instance, culture and education.
In addition, Triodos Bank has set an ambitious target of being net-zero by 2035 with all its loans and investments, and in its own operations.
Jacco Minnaar, chief commercial officer at Triodos Bank, said: “Triodos Bank sees our high ranking as recognition of our business model to create positive impact through our loans and investments.
"We have always envisioned a world in which all people have the necessary tools and resources to live fulfilling lives, and in which the economy operates in harmony with nature rather than against it. This means we have a broad definition of sustainability.
"It’s about reducing CO2 emissions, and it’s also about increasing wellbeing and social equality. This requires a long-term vision benefiting society as a whole.
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“We believe that what we do starts with assessing impact. We then assess risk and high impact and lower risk tend to correlate.
"We strive for a sustainable return so we can continue to reinvest and provide our owners with a fair return.
"Through this approach the financial sector can really accelerate the transition towards a more sustainable and fair economy.”
