Triodos Bank removed from blacklist State of New York

Press Release

Triodos Bank has learned from the American State of New York that on 3 December 2018 it has been removed from a list of companies accused of boycotting Israel. Triodos Bank has repeatedly argued that it does not boycott Israel and that it does not have a policy to exclude this country. Therefore, we are very pleased that we are no longer included on this list.

The State of New York originally placed Triodos Bank on the blacklist on 6 December 2016. We are not aware that Triodos Bank is placed on blacklists in other US states.

What we do

Triodos Bank has always stated that it 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.

Clarification

After contact with the State of New York, Triodos Bank clarified the text of the Minimum Standards to avoid any possible misunderstanding with regard to Israel. Although the Minimum Standards are established and updated through a thoughtful process, apparently the wording of some parts seemed to be open for multiple interpretations. Triodos Bank does emphasise, however, that it has never boycotted Israel and never had a policy to exclude this country.