Daniël Povel

‘‘Renewable energy and energy reduction is not a hype but a bare necessity!”

In this era of an unprecedented financial crisis, climate change and the energy crisis must remain in the centre of the public debate. Access to energy in the developing world, scarcity of fossil fuels, related geopolitical tensions, energy security and fighting climate change are and will remain, next to the global food and water crises, key challenges for the next decades. From a technology point of view, mitigating climate change by a swift transitioning towards a less materialistic and more sustainable energy economy seems possible within just a few decades. Innovative technologies are available and will further evolve.

Transitioning towards a sustainable energy economy requires a concerted effort from various stakeholders, guided by governments. It is Triodos Bank’s view, that the financial sector can and should play an instrumental role in this urgently needed transition. Finance is a key condition for whatever investment decision in society. We believe that the financial sector has a unique position and the responsibility to play a catalytic role in responding to the challenges we face.

The financing decisions of the financial industry can make or break crucial investments with huge potential impacts, and can help guide society by making the right decisions. In order for this to be possible, investment decisions must not be guided by short-term financial interests, but by a combination of long- term financial, environmental and social considerations, aligned with but not dependent on progressive government policies. The government has the ability to steer the financial sector towards a proactive and catalytic role in the transitioning to a sustainable energy economy.