News

• May Additions - New companies have recently been added to our list of eligible companies: Becton, Dickinson & Company, Ebay, IAC/InterActive Corp, Kimberly Clark, and Manz Automation.

• May Removals - The results of recent research have led to the removal of the following companies from our list of eligible companies: CFF Recycling due to acquisition; EMAP due to aquisition; Hagemeyer due to acquisition; Hypothekenbank in Essen due to acquisition; Reuters due to acquisition (note the dual listed company ThompsonReuters is now included on the list); Sachsen LB due to acquisition; Scottish & Newcastle due to acquisition; Wurttembergische Hypobank due to acquisition. The status of Rabobank is 'on hold' pending investigation of investments in weapons production; the stauts of Tesco is 'on hold' due to investigations on anti-competitive behaviour and pricing pressure tomwards suppliers.  

• 29 April 2008 - Triodos Bank has voted by proxy at 29 shareholder meetings. Summaries of our votes are sent to the companies in accordance with our Transparency Policy. The 2007 Proxy Voting Summary can also be found at the bottom of this page.

• 22 April 2008 - Tesco and Triodos meet. Both Tesco representatives and representatives from Triodos Bank met at the Tesco headquarters in the UK to discuss Tesco's supplier relationships and the company's power to undermine local economies. Like other large supermarkets in the UK, the company is the subject of an investigation by the Competition Commission. The final results of the Commission are expected shortly. The investigation will shed light on supplier relations, market share and landbanking practices. We await these final conclusions and recommendations of the Commission and Tesco's answer to questions raised by Triodos before a final decision is reached on the company's status for ethical investment.      

• 17 March 2008 - Triodos representative Tarra Hunchak attended the Ahold SRI Lunch, a presentation of both the newly released Ahold 2007 Corporate Responsibility Report and CSR developments within the company. The company's CSR approach was categorized within 4 themes: Healthy Living, Sustainable Trade, Climate Action, and Community Engagement. Within each theme, the objectives, goals, and challenges for the future were discussed. With regards to its sustainability reporting, Triodos challenged the company to publish its sustainability targets along with clear deadlines for achievement to increase accountability. 

• November 2007 - Organon published its first annual report on animal testing, a breakthrough in transparent reporting for companies involved in this area. Both Triodos Research and Dutch Association Against Animal Testing have co-operated closely with the company to identify which topics to address in the report. Suggestions for additional topics have been incorporated in the final version of the report. Triodos Research is pleased with this the release of this report, since transparency on animal use is often lacking across all sectors. The report has also been discussed with other companies involved in animal testing to stimulate increased transparency on this topic.

• 28-30 November 2007 - The Dutch human rights organisation Aim for Human Rights held a conference on Human Rights Impact Assessment (HRIA) in practice. Triodos Research was in attendance to learn from the experiences presented and to exchange view on its own Human Rights screening. At the conference, human rights was discussed in relation to business, EU policies, and women's rights and health. Business tolls and case studies were also discussed in a workshop using HRIA tools. The conference provided that many organisations worldwide are working alongside the business community to promote awareness of their human rights impact. Companies can very well map their impact and develop management systems to prevent human rights related risks; the HRIA tools offer companies practical huidance in this process. Remaining challenges include continuing to increase business awareness that an HRIA is pertinent, giving stakeholders or victims a complaint mechanism, setting clear, measurable targets and transparent reporting on progress and results. Summaries of the conference will be available at the Aim for Human Rights website.

• 1 November 2007 - Triodos Bank representatives Rosl Veltmeijer and Ton Rennen met with Dutch express and mail company TNT. At the 2006 annual shareholder meeting, Triodos had raised questions on two issues, notably measures to improve clean driving, and measures to stimulate sustainability with its contractors. In a follow-up letter from TNT's CEO, Mr. Bakker, we were informed about several environmental measures taken for its vehicles. Furthermore, Mr. Bakker stated that TNT was in dialogue with its contractors to achieve sustainability improvements. Awaiting further developments, Triodos Bank welcomed the company's ambitious program 'Planet Me', launched in summer 2007. One of the aims of this program is to make TNT carbon neutral. Moreover, employees are also stimulated to take measures to reduce their carbon footprint in their private lives. In the November meeting with TNT representatives Mr. Van Minderhout and Mr. Rijk, Triodos Bank learned about the program details, such as the purchase of environmentally-friendly company cars, a dramatic decrease in business air travel, and the foreseen establishment of jatropha plantations in Malawi. The measures sound impressive and results can be expected in the short term. However, looking at TNT's carbon footprint, especially sub contractors' emissions (responsible for 65% of TNT's total emissions) and aviation (18%), more attention will be required to meet their goal of carbon neutrality. Triodos Bank looks forward to concrete measures and results.

• 1 & 2 November 2007 - Christa Florschütz from Triodos Research joined the Cradle to Cradle (C2C) seminar in Maastricht. The C2C concept introduces an alternative approach to environmental management, without waste and pollution and without depletion of materials in limited supply. This requires a different way of designing products and relies on cooperation from the supply chain. The concept's appeal for companies is its ease of adoption and the positive approach. The C2C concept can be used by Triodos Bank as a positive indicator in the selection process of companies for ethical investment.    

• 9 October 2007 - Triodos Bank representatives Rosl Veltmeijer and Arthur van Mansvelt met with Océ. Mr. van den Belt, Océ CFO invited Triodos as a follow-up to questions raised as the company's AGM earlier this year. Two VBDO representatives also joined the meeting. The chairman of the Océ Sustainability Forum, Mr. Vincent, first gave a presentation on where the company stands concerning sustainability within the company. Océ has developed several focal points: minimizing energy consumption per print; maximize reuse of materials/minimize landfill; minimize emissions of ozone dust and toner; minimize wasted and unnecessary prints; increase Océ's attractiveness as an employer of choice for high potential candidates. Océ currently has three of its own production facilities: Venlo (NL), Poing (DE) and Canada. The ambition is to outsource 80% of the production of Venlo to the far East and Eastern Europe by the end of 2008. Triodos and VBDO advised Océ to structurally engage with suppliers on sustainability and introduce strong management systems in the supply chain, including audits. Other improvement areas are setting and reporting on sustainability targets, also related to renewable energy. Océ responded by stating its first priorities lie with its focal points. The company strives to publish its next sustainability report prior to the AGM in 2008.    

• 3 October 2007 - Triodos Research was invited to the second dialogue session on the role of SRI agencies (Socially Responsible Investment) in enhancing the effectiveness of the OECD Guidelines for Multi-National Enterprises. The OECD Guidelines are recommendations addressed by governments to multinational enterprises operating in or from adhering countries, providing voluntary principles and standards for responsible business conduct in a variety of areas including employment, human rights, environment, transparency, and taxation. The guidelines are voluntary for companies, but OECD countries should promote the guidelines and establish a national contact point (NCP) where specific business conduct issues can be raised. The meeting aim was to encourage SRI experts to use the guidelines both in the assessment of company performance and in engagement with companies about their activities. Among the variety of international codes and initiatives to promote corporate social responsibility, the OECD guidelines are an interesting tool, as they are supported by all OECD countries and stakeholders such as Trade Unions and NGOs can bring controversial business conduct cases to NCPs that assess the issues. OECD Watch has presented two factsheets aiming to present the guidelines and how they can be used in SRI screening, and two more fact sheets will follow. Although the guidelines can be used for such screening and engagement Triodos encourages a stricter, transparent and consistent treatment of controversies raised by the national contact points to strengthen impact of the guidelines.