What we stand for

We stand firm by our principles, drawing bold lines in the sand where our integrity demands it. Our stance on pressing issues shapes not only how we invest, but also how we advocate for a better future. Every decision is a reflection of our values, and every investment a catalyst for meaningful change. To be able to drive positive impact, it’s essential that we clearly define our boundaries.

Human rights

We only finance and invest in companies that demonstrate respect for human rights in all areas of their business. We exclude companies at high risk for human rights violations that fail to prevent or address potential abuses, those that do not respect international humanitarian law, or those involved in controversies such as land conflicts, collaboration with repressive regimes, or activities that undermine civil or political rights. We also exclude companies that deny people their basic needs, fail to engage communities when acquiring natural resources, or develop technologies that may threaten privacy and fundamental freedoms. Respect for human rights is a core value in all our financing decisions.

Companies must actively prevent involvement in human rights violations, whether directly or indirectly, and address risks arising from their activities, business relationships, or the places they operate. This responsibility goes beyond legal compliance and extends to moral obligations, ensuring that business activities do not contribute to exploitation, discrimination, or abuse. Companies must engage meaningfully with local communities, protect land rights, and obtain consent when using natural resources, while also safeguarding defenders of land, environment, and human rights.

Worker conditions

We do not finance or invest in companies that do not uphold fair and equal labour standards. We exclude companies at high risk of violating labour rights—whether of their own employees or those in their supply chain—without robust policies and programmes to address key issues like child labour, discrimination, forced labour, union rights, and workplace safety. We also exclude companies that deny a safe and healthy workplace or consistently contract suppliers that violate labour rights. Everyone deserves to work in conditions that are just, safe, and respectful of their rights.

We expect companies to have clear, public policies and management systems that protect labour rights throughout their operations and supply chains, including for remote and migrant workers. This means prohibiting child and forced labour, ensuring equal opportunities, providing fair wages and reasonable working hours, and supporting occupational health and safety. Companies should also offer procedures for employees to raise concerns and resolve conflicts, ideally in collaboration with labour unions. Maternity protection and the wellbeing of all employees and those affected by business operations are crucial to us.

Weapons

We do not finance or invest in companies or organizations involved in the production, sale, or servicing of weapons or their components, nor in financial institutions that support these activities. We strictly exclude those involved with nuclear, chemical, biological, and autonomous weapons, as well as those providing financial services to the arms industry. Dual-use technologies are only considered if they cannot be used to inflict harm.

The production and proliferation of weapons undermine human dignity, cause significant environmental harm, and perpetuate violence and conflict, contradicting our mission of building a peaceful world rooted in human dignity. While governments have security needs, private financing of the arms industry fuels conflict rather than fostering lasting peace.

Conflict minerals

Minerals like tantalum, tin, tungsten, and gold are often sourced from conflict-affected and high-risk areas, meaning their use can finance armed groups, fuel human rights abuses, and support corruption. Companies have a duty to ensure their supply chains do not contribute to violence or exploitation.

We do not finance or invest in companies involved with conflict minerals unless they take meaningful action to ensure conflict-free sourcing. We exclude companies that fail to have clear public policies, do not require the same from suppliers, or are not aligned with industry standards for responsible mineral sourcing.

Pornography and sex work

We do not finance or invest in companies involved in pornography or sex work, including the production or distribution of pornographic content or related services. It is possible for Netherlands-based sex workers to open a corporate bankaccount at Triodos Bank (given they meet the applicable conditions).

Individuals have the right to choose their leisure activities and profession, provided these are legal and do not harm others. At the same time, pornography and sex work carry heightened risks of human trafficking, exploitation, abuse, and exposure of minors. Companies profiting from these activities may exploit power imbalances and must take responsibility for preventing illegal or harmful practices.

Alcohol and cannabis

We do not finance or invest in companies involved in the production or sale of alcohol and cannabis unless they act responsibly to prevent misuse, minimise negative social impacts, and ensure traceable, legal sources—especially for cannabis. We exclude companies that mass-produce or retail these substances without adequate safeguards for minors, responsible use, or supply chain integrity.

While alcohol consumption is widely accepted in many cultures and can support local traditions, excessive use of alcohol or cannabis has serious consequences for individuals, families, and society—especially for minors and vulnerable groups. The sourcing and traceability of cannabis remain problematic, with risks of illicit supply and associated crime.

Tobacco

Individuals can make their own choices about tobacco products, including cigarettes, cigars, and smokeless tobacco, but these products are highly addictive and have serious health risks for both users and those exposed to second-hand smoke.

We exclude companies that produce or sell tobacco products.

Gambling

We do not finance or invest in companies involved in the gambling industry. We exclude those that develop, produce, distribute, sell, or market gambling products or services, except for long odds activities or lotteries.

We believe individuals have the right to pursue legal leisure activities, including gambling, as long as they do not harm themselves, others, or the environment. However, some gambling activities pose greater risks of addiction and can result in debt, social problems, and harm to vulnerable groups. Companies profiting from gambling must act responsibly to prevent addiction and protect young people.

Fossil fuels

The extraction, production, and consumption of fossil fuel-based energy is the largest contributor to greenhouse gas emissions, exacerbating climate change and driving biodiveristy loss.

We do not finance or invest in companies that primarily generate revenue from producing, operating or retailing fossil fuel-based energy.

Climate change

Immediate action is needed to halt climate change and limit global temperature rise to 1.5°C, in line with the Paris Agreement. We only finance and invest in companies that demonstrate awareness of climate change and take credible, measurable steps to reduce and eliminate their greenhouse gas emissions.

We exclude companies failing to disclose or address their emissions or lacking clear targets for carbon reduction. We also exclude companies producing or using unsustainable biofuels or biomass, or those involved in controversial legal actions against governments over climate policies.

Biodiversity

Biodiversity is the foundation of life on earth, linking all animals, plants, and habitats in a complex web that supports the wellbeing and survival of people and nature alike. Loss of biodiversity undermines the health of ecosystems and the economy.

We expect companies to take credible action to assess and mitigate negative effects, and contribute to the protection or improvement of biodiversity, especially in and around sensitive ecosystems and protected areas. We exclude companies involved in major or unresolved biodiversity controversies, and those harming protected areas or endangered species.

Deforestation

Forests are vital for biodiversity, climate regulation, indigenous cultures, and human wellbeing. Deforestation linked to supply chains of commodities like palm oil, soy, cofee and cocoa, is one of the main global drivers of both climate change and biodiversity loss.

We only finance or invest in companies whose practices do not contribute to commodity-driven deforestation and who promote forest conservation or sustainable management. We exclude companies that do not comply with deforestation laws, are responsible for forest destruction, or cannot demonstrate their supply chains for key commodities like beef, soy or palm oil, are or will be deforestation-free.

Water

Fresh water is essential for drinking, agriculture, and industry - companies must manage and limit their water use, minimise pollution, and take responsibility for their water footprint, especially in regions where water is already scarce.

We exclude companies in water-intensive industries that do not actively reduce their water use, those starting new operations in areas with pre-existing water scarcity, and those at high risk of water pollution without clear commitments to prevention and restoration. We also exclude companies that build water infrastructure projects without meeting international sustainability standards.

Genetic engineering

Genetic modification involves the artificial manipulation of genes for food production or medical purposes. While genetic engineering can offer benefits for healthcare, it also brings ethical concerns, environmental risks, and uncertainties. We believe that there are ethical boundaries to altering nature and that new technologies must follow the precautionary principle.

We do not finance or invest in companies involved in the use or development of genetic modification. We also exclude companies that develop, commercialise, or process transgenic food or feed crops without reducing their use or ensuring non-GMO options, those that genetically modify animals for non-medical purposes or where alternatives exist or participate in animal cloning or organ xenotransplantation.

Animal testing

Animal testing involves experiments on vertebrate animals to ensure the safety or effectiveness of new products, mainly in pharmaceuticals and chemicals. While sometimes legally required for medical purposes, animal testing can raise significant ethical concerns.

We believe animal testing should only occur when aboslutely necessary for legitimate medical purposes, and only if there are no viable alternatives. We oppose animal testing for non-medical products, as innovation can be achieved without further animal harm. Animal testing is only acceptable for legitimate medical purposes and when companies minimize animal use and suffering.

Protein transition

Because of the large climate and biodiversity impacts related to (western) diets, it is necessary that eating habits change. Although animals can play a role in ensuring circular food systems, this should include a shift towards more vegetarian and plant-based meals.

Triodos Bank supports the Planetary Health Diet, which allows for limited inclusion of animal products while emphasising plant-based proteins. We expect companies to contribute to the transition to plant-based and alternative proteins.

Factory farming

Factory farming is defined by the intensive and confined raising of livestock, often resulting in poor living conditions and unnecessary suffering. Harmful practices such as overcrowding, routine use of antibiotics and hormones, and painful interventions are common in these systems and raise significant concerns for animal welfare.

We believe that agriculture rooted in organic and biodynamic principles offers the best path to sustainable food production and animal welfare. Companies should respect the Five Freedoms for animals: freedom from hunger, discomfort, pain, fear, and the freedom to express normal behaviour. We expect that companies involved in animal farming align with minimum welfare standards on housing, medical procedures, transport, breeding and slaughter practices for each animal species.

Fur and specialty leather

Animal fur and specialty leather are luxury products made from animals bred or hunted solely for their skin, despite the existence of adequate alternatives. Such practices are not necessary to meet basic human needs and often cause unnecessary suffering.

We believe animals have a right to freedom from pain and fear, and every effort should be made to prevent cruelty and minimise suffering. While animals can provide essential products, breeding or hunting them only for their fur or skin is not justifiable. We do not finance or invest in companies involved in the production, sale, or trade of fur and specialty leather, including exotic leather.

Fisheries and aquaculture

Fisheries and aquaculture provide seafood and aquatic products for global consumption, but unsustainable practices threaten fish stocks, marine biodiversity, and the health of our oceans. Unregulated fishing, harmful techniques, and poorly managed aquaculture can result in overexploitation, habitat destruction, and animal welfare concerns.

We only finance or invest in companies that foster sustainable fishery and aquaculture practices. We exclude those without robust sustainability programmes, those not certified to standards like the Marine Stewardship Council (MSC) or Aquaculture Stewardship Council (ASC), or those involved in illegal, unreported or unregulated fishing, or involved in harmful practices.

Pollution

Companies must minimise the use of hazardous substances and actively develop and promote safer alternatives. Preventing contamination and managing pollution responsibly are essential to protecting people and ecosystems everywhere.

We exclude companies producing or selling hazardous chemicals or pesticides, failing to manage pollution risks, violating international agreements, or causing irreversible environmental damage. Robust policies, technologies, and transparency are required to ensure proper containment and prevent harmful releases into the environment.

Mining

Controversial mining practices like deep sea mining, mountain-top removal, or asbestos mining need to be stopped. But, extracting non-renewable resources like metals and minerals is vital for modern industry (for example, silicon for solar panels).

We finance companies committed to responsible resource management, recycling and transparent, sustainable supply chains. We exclude companies involved in oil, gas, coal, uranium extraction or other high-risk mining practices.

Plastic

Widespread use of petro-based polymer plastic and the resulting pollution causes serious harm. Companies should be held responsible for reducing plastic production capacity, by cutting down on unnecessary plastic components, focusing on alternative materials (including non petro-based plastics), eliminating single-use plastics and advancing recycling technologies wherever possible.

We exclude companies that produce plastic-intensive products from virgin petro-based polymers (where viable alternatives are available) without reporting their plastic footprint or taking measurable steps to reduce their virgin plastic use and improve transparency.

Nuclear energy

Nuclear power is, in our view, not the solution to tackle climate change as it creates other significant problems such as nuclear waste and potential nuclear meltdowns.

We exclude companies involved in uranium mining or in the production, transport, storage, and sale of nuclear power or nuclear fuel.

Equity, diversity and inclusion

We do not finance or invest in companies linked to incidents of discrimination, harassment, or exclusion, and expect all companies to have robust systems and policies in place to prevent such risks and to foster a culture of inclusion and equal treatment. We exclude companies involved in serious or recurring incidents of discrimination or harassment without taking adequate corrective action, and large companies that do not provide accessible reporting mechanisms or lack clear, public policies against discrimination, violence, and exclusion.

We believe that every person deserves to be treated with respect, free from harassment, violence, and discrimination. This includes equal recruitment, pay, access to products and services, opportunities for career development, and advancement into leadership roles. Companies have a responsibility to foster inclusive workplaces and supply chains, respect the principles of non-discrimination, and support equal participation at every level of their organisation. Larger companies, or those operating in higher-risk sectors or regions, carry additional responsibility to implement formalised systems, such as comprehensive policies, employee training, and robust reporting mechanisms.

Transparency

We exclude companies involved in accounting irregularities, excessive executive pay, or insufficient disclosure of sustainability information.

We believe that transparent accounting, clear sustainability reporting, and fair executive remuneration are essential for building trust and long-term value. Companies must uphold strong reporting practices and ensure executive compensation is reasonable and aligned with recognised standards.

Corruption

The misuse of power in order to alter the course of business (usually through bribes or facilitation payments) has serious negative consequences for society and the environment, as well as for local, national and international economies.

We do not support companies operating in high-risk industries that lack anti-corruption policies, business ethics programs, or that are involved in bribery, money laundering, or other corruption-related controversies. Companies making opaque political contributions to gain advantage are also excluded.

Taxes

Fair and transparent taxation is essential for a healthy society, supporting public services and sustainable development.

We do not finance companies involved in aggressive tax avoidance schemes that raise ethical concerns or violate local or international standards. Companies should act with full transparency in their corporate structures and tax practices, openly disclosing information such as ownership, beneficial owners, country-by-country reporting, and any significant tax rulings or disputes.

Artificial Intelligence

Irresponsible development and deployment of artificial intelligence can undermine human rights, societal wellbeing, and the environment.

We expect companies to recognise AI-related risks and to refrain from harmful applications, including lethal autonomous weapons, mass surveillance, biometric categorisation, social scoring, or cognitive and behavioural manipulation.

Triodos Bank and human rights

Since its start, Triodos Bank has had a strong commitment to respect human rights - as a financier, employer and purchaser. This commitment is at the heart of our operations. Our mission states that we want to help create a society that promotes people’s quality of life and has human dignity at its core.

In our Articles of Association it reads: With the exercising of banking business, the company aims to contribute to social renewal, based on the principle that every human being should be able to develop in freedom, has equal rights and is responsible for the consequences of his economic actions for fellow human beings and for the earth.

We respect people, support society and embrace different cultures and we fully support the aims of the United Nations Universal Declaration of Human Rights. Our business principles for all of our activities, are fully aligned with international standards and guidelines regarding human rights, including the OECD Guidelines for multinational enterprises. You can find more information on how we incorporate our respect for human rights in all of our activities in the document below. This is part of our commitment to work towards reporting in line with United Nations Guiding Principles Reporting Framework.

Triodos Bank's position on human rights - May 2020

Triodos Bank and 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.

Triodos Bank position on publication of 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 and Triodos Investment Management have no company-specific ATR or APA in the countries where they are active.

Triodos Bank's position on tax - August 2016

What we stand for

Human rights

Worker conditions

Weapons

Conflict minerals

Pornography and sex work

Alcohol and cannabis

Tobacco

Gambling

Fossil fuels

Climate change

Biodiversity

Deforestation

Water

Genetic engineering

Animal testing

Protein transition

Factory farming

Fur and specialty leather

Fisheries and aquaculture

Pollution

Mining

Plastic

Nuclear energy

Equity, diversity and inclusion

Transparency

Corruption

Taxes

Artificial Intelligence

Main

Our impact

Banking

Investing and giving

We use cookies

Human rights

Worker conditions

Weapons

Conflict minerals

Pornography and sex work

Alcohol and cannabis

Tobacco

Gambling

Fossil fuels

Climate change

Biodiversity

Deforestation

Water

Genetic engineering

Animal testing

Protein transition

Factory farming

Fur and specialty leather

Fisheries and aquaculture

Pollution

Mining

Plastic

Nuclear energy

Equity, diversity and inclusion

Transparency

Corruption

Taxes

Artificial Intelligence