Triodos Bank recognised as the world's most sustainable bank
Triodos Bank has won the Financial Times Sustainable Bank of the Year Award at the International Sustainable Banking Conference in London. The awards are run by the Financial Times and IFC, a member of the World Bank Group. Now in their fourth year, the awards recognise banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations. The awards were presented at a gala dinner on June 4 in London.
Peter Blom, Chairman of the Executive Board: “Since its inception Triodos Bank has made a fundamental choice for sustainable banking. Winning this prestigious Award provides welcome international recognition and encouragement for our pioneering role within the banking sector and our solid, transparent and sustainable banking model. We want to help build a more sustainable financial system and hope that our banking model will inspire profound changes in the mainstream financial industry.”
The judges’ view: “Triodos raises a fundamental question. Do the issues that have gripped the financial sector in 2008 mean we need to review the industry’s business model? And if we do, what does the new model look like? Triodos’ exceptionally good application reflects the emergence of a specific type of financial institution that is integrating sustainability considerations not just at the level of ‘how’ -- enhanced governance, ethical and social risk screening -- but also at the level of ‘what’ -- financing the sectors and companies whose mission statement is to accelerate the transition to a low-carbon and sustainable economy, e.g.: renewable energy, organic agriculture, poverty reduction, micro-credit, rural tourism, etc. Is this still niche? Is it boutique? Or is it the model for the future? Triodos has demonstrated the model’s potential, with average annual growth of 20% in the past 10 years, 25% growth in 2008, and 3.7 billion euros under management. This is consistent, cohesive performance. What Triodos has tried is something radically different, and it appears to be working. If this isn’t the year when it’s been demonstrated that we need a new model, when is?”
Marilou van Golstein Brouwers, Managing Director of Triodos Investment Management: “The financial system needs to change. For many of you receiving our newsletter, that is at the core of your business too. We therefore feel that the recognition and encouragement attached to this award goes out to all of you: our partners in the Global Alliance of Banking on Values, our investee microfinance banks, our investors, partners and other stakeholders. Sharing values and working together, each of us can be seeds of change for a new sustainable financial industry.”
Nominees were selected from among 165 entries from 117 institutions across 42 countries. Also shortlisted for the Sustainable Bank of the Year Award were Germany’s Deutsche Bank, Grupo Santander in Brazil, the Industrial Bank in China and Standard Chartered from the UK.
Visit www.ftconferences.com/sustainablebanking for more on the Awards.
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