The draft Dutch Climate Agreement is a step in the right direction. But to make it succeed more is needed. In the further elaboration and application, clear choices are required from all parties involved. To actually achieve the climate goals and to distribute the costs fairly. This is what Triodos Bank concludes in response to the draft Climate Agreement presented today.
Triodos Bank was closely involved in the development of the draft agreement. "A lot of work has been done by all parties, but we are not there yet. Over the next few weeks, a number of elements must really be improved, and we understand the position the environmental organisations have taken in this. We have stepped on the first rung of the ladder today. But now we must climb it, to really take on the climate challenge. We will continue to work to make the agreement ultimately successful. That responsibility lies with everyone involved," says Peter Blom, CEO of Triodos Bank.
Peter Blom sees the commitment from all sectors as a crucial condition for success. "The starting point must be that the polluter pays and that the bill is therefore not only deposited with citizens. This requires real choices from the cabinet."
The financial sector itself will have to make clear choices of its own, says Peter Blom. The financial sector has fully committed itself through the agreement and will impose climate requirements on itself to reduce CO2 emissions on their balance sheets. "That does justice to the social role of the sector. There is an agenda with a timetable for implementation. That is positive and quite a step forward from six months ago. However, the text still leaves the sector too much room for a limited reduction of fossil assets. And we think there is no more time for non-commitment. We believe it is the responsibility of asset managers, pension funds and banks to divest all fossil assets."
"In addition to measuring, paying for pollution is an important factor in forcing all parties in society to make better choices. CO2 pricing is indispensable in that respect. And will help to make sustainable projects financially sustainable. And it is possible. De Nederlandsche Bank recently confirmed that the Dutch economy can handle this. And there are countries that already do this. Countries such as France, Finland, Ireland and Switzerland use different forms of CO2 tax, in addition to a system of emission allowances. So let's not discuss that for too long and just do it", says Peter Blom.
Prime Minister Rutte recently said to a foreign news channel that, in his view, 55% CO2 reduction in 2030 should be the real objective for the Netherlands. Peter Blom: "We expect the prime minister to link this with political courage to ensure that the Dutch Climate Agreement takes this percentage as the starting point."
Consumers are also faced with real choices, for example when it comes to making their home more sustainable. The accelerated energy transition and the higher energy prices mean that the non-sustainability of homes will pose a financial risk. Many homes will be renovated or sold in the coming years. At those times it makes sense to assess which energy-saving measures are possible. Negotiators in the Climate Agreement have made concrete agreements on this.
Triodos Bank negotiator Jeroen Pels is pleased that the draft agreement paves the way for building-related financing. In this form of financing, mortgage providers link a sustainability loan to the building instead of the person.
"This was an important point for us. It puts making your home more sustainable within reach for everyone. So also for people with a small wallet. In addition, agreements have been made on how to make energy related improvements possible for the 1.2 million people that depend on their owners' association."
Another important result is the agreement that all parties that are active in the housing market - from broker and surveyor to the mortgage advisor - collaborate to give the consumer insight into the possibilities to save energy and how they can finance improvements.
Note to editors:
- Triodos Bank was closely involved in the realisation of the Climate Agreement.
- Jeroen Pels (Head of Mortgages) at the sector table for the Built up Environment in the role of chair of the working group on financing private homes
- Itske Lulof (Director Climate & Energy) as a member of the task group that looks at the financeability of the plans.
- Kees Vendrik (Chief Economist) as chair of the sector table electricity.
About Triodos Bank
Founded in 1980, Triodos Bank has become a reference point for sustainable banking globally. Triodos Bank is an independent bank that promotes sustainable and transparent banking. It does not see any conflict between a focus on people, the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.
Triodos Bank has branches in the Netherlands, Belgium, the UK, Spain, Germany and an agency in France. It is a global authority in the field of microfinance in developing countries, Central Asia and Eastern Europe.
Triodos Bank co-founded the Global Alliance for Banking on Values, a network of 54 sustainable banks. Together these banks want to grow sustainable banking and its impact substantially.
Triodos Bank N.V. has a full banking licence and is registered with The Nederlandsche Bank N.V. (the Dutch central bank) and The Netherlands Authority for the Financial Markets.
Most recent company information is available on Triodos Bank’s website: www.triodos.com
For more information
Christine van Waveren: Telephone +31 30 693 2754 (direct) or +31 6 1156 3144 (mobile) E-mail: email@example.com