Statement Triodos Bank on blacklist State of New York

Press Release

On 6 December 2016 Triodos Bank became aware of its placement on a list published by the American State of New York. This list contained names of companies accused of boycotting Israel. Triodos Bank does not boycott Israel, nor does it have a policy to exclude Israel. Triodos Bank has requested the removal of our company name from the New York State list.

What we do

Triodos Bank assesses companies and projects in which it invests or which it finances, on their fit with our mission and our values. In addition to our mission, values and business principles, we have defined lending criteria which guide us in evaluating credit and investment proposals. And finally we have defined minimum standards which are applied before granting a credit or making an investment.

Who we finance

We only finance and invest in sustainable companies that meet our criteria, regardless of the country they are in. We publish details of our loan customers and the companies we invest in through our Triodos investment funds. So everyone can see what happens with the money we lend. 
Our investment funds may also invest in government bonds (eurobonds only) and for these investments we follow a similar process of which details can be found here.

Update 2 December 2017

We are very disappointed that despite our repeated engagement with the relevant authorities and our objections, we have to date not received a factual response. Instead we have learned that we have again been included on the list. We remain committed to the statement above. We do not boycott Israel. Our policy is to invest in companies that match our standard for positive social, environmental and cultural change. We do not have any policies or frameworks in place for companies or countries that could result in a boycott of any one country. We will continue to object to our placement on this list and will request the State of New York once again to remove our company name from their list.

Illinois

In March of 2017 Triodos Bank also became aware that it was included on the Prohibited Investment List of the State of Illinois, a list of companies accused of boycotting Israel. We submitted a request to the State of Illinois for modification of the status of a restricted company, based on the fact that we do not have any policies or frameworks in place to exclude Israel or companies active in Israel from investments. We are still awaiting Illinois State’s reaction.