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Governance Codes

Triodos Bank Business Principles, the Dutch Corporate Governance Code and the Dutch Banking Code

True to our values and business principles, Triodos Bank maintains and promotes the highest ethical business standards. It is in our DNA to do so. Our approach to sustainable banking is in line with good corporate governance as laid down in the Dutch Corporate Governance Code and the Dutch Banking Code. Triodos Bank's corporate governance performance is monitored and reviewed continuously, and reported in the annual report and on our website.

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Business Principles

Our business principles guide us in carrying out our mission. They provide the framework that supports not only our strategic future, but also the code of conduct that underlies our day-to-day business operations. The Triodos Bank bankers’ declaration ties in fully with these Principles.

The Business Principles are an integral part of the contracts of employment of all Triodos Bank co-workers. In addition, the Business Principles are included in the introduction programme for new co-workers. The principles have been drawn up in consultation with the Board of SAAT and the Supervisory Board.


Dutch Corporate Governance Code

The Dutch Corporate Governance Code (the Code) only applies to organisations whose shares are listed on a regulated market. Even though Triodos Bank's depository receipts are not listed on any regulated market, it chooses to endorse and comply with the principles and best practices of the Code. Although Triodos Bank generally complies with the principles and best practices of the Code, it has opted to consciously differ from it in several specific instances. 


Corporate Governance Code Statement 2015

The Executive Board of Triodos Bank has drafted a Corporate Governance Code Statement in accordance with the Dutch Decree implementing further accounting standards for the content of annual reports dated 23 December 2004 (as amended on 20 March 2009). This statement forms part of the 2015 Annual Report and is valid as of its date. The statement can be found in the online annual report and at www.triodos.com/statements. 


Dutch Banking Code

The Dutch Banking Code ('Banking Code') came into force as of January 1, 2010 and has been revised in 2014. The Banking Code is part of a package of new developments for the banking industry called ‘Future Oriented Banking’ introduced by the Dutch Bankers’ Association (NVB). The package includes, besides the revised Banking Code, a Social Charter and rules of conduct associated with the Dutch bankers’ oath.

The revised Banking Code came into effect on 1 January 2015. It consists of a number of recommendations and principles aimed at ensuring the very best performance by banks. Its primary focus is on governance and the banks’ culture. It puts the interests of the customer at the heart of a bank’s activity, which ties in fully with Triodos Bank’s vision and Business Principles.

Whistle-blower Policy

Our Whistle-blower Policy ensures that co-workers have access (anonymously or otherwise) to higher management layers, in case of alleged irregularities of a general, operational and financial nature within our company. It defines the rules and procedures for the proper handling of such allegations.


Position on tax

Triodos Bank’s position on tax is based on five principles that reflect the way we operate in accordance with applicable rules, regulations and norms. We encourage our partners and stakeholders to make a similar commitment by acting in line with rules, regulations and spirit of applicable provisions on taxes, as well as with our tax principles.

Read more about our position on tax

Tax ruling

A tax ruling is a written confirmation from tax authorities that provides upfront clarity on the tax treatment of company structures or transactions. Such a ruling usually spans a number of years and in the Netherlands is referred to as an Advance Tax Ruling (ATR) or an Advance Pricing Agreement (APA). Transparency is one of Triodos Bank’s core values. Our principle is to publish any company-specific ATR or APA provided publication is approved by the relevant tax authority.

At present Triodos Bank, Triodos Investment Management and Triodos Private Banking have no company-specific ATR or APA in the countries where they are active.

Position on financial institutions

Triodos Bank’s position on financial institutions is based on our general business principles and standards. In our relations with financial institutions we are guided by relevant codes of conduct, conventions and standards.

Read more about our position on financial institutions

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Governance Structure

Triodos Bank has been structured and is managed to ensure we can achieve our mission.

Annual Report 2015

Triodos Bank Annual Report. Banking for impact.

Find out how sustainable banking made a difference in 2015.