In The climate emergency: Finance needs to act now Triodos Bank explains its position on the COP25 and the role finance should play.
The Paris Agreement appeals to the world community to take action to limit global temperature rise to preferably 1.5°C. A rapid decline of global greenhouse calls for a comprehensive transition towards a more sustainable society, starting as soon as possible.
Triodos Bank supports this goal. Since its inception about 40 years ago, Triodos Bank strives to finance projects with a positive impact on society and the environment. This means that we have never funded fossil energy production. We have built an extensive track record financing renewable energy projects, from the first wind turbine in 1987 to the offshore wind farms we finance today.
Phase out fossil investments
We see more and more financial institutions moving towards a more sustainable business model. This is positive because the financial sector fulfills many important functions in society. However, more action is needed. Most importantly, new investments in fossil energy production should end as soon as possible. A process of phasing out fossil capacity should be priority in government policies and in business and finance strategies
At the COP25, Triodos Bank will talk about how the financial sector can take up the challenge to address the climate emergency at an event organised on Monday by the European Banking Federation. On Wednesday, we’ll discuss the Partnership for Carbon Accounting Financials (PCAF) and its carbon accounting methodology. Triodos Bank is one of the founding members of PCAF and has already measured the emissions from its own loans and investments. On Thursday, we will discuss the Dutch climate agreement and the commitment of the Dutch financial sector.