Supervisory Board activities

During its meetings and contacts with the Executive Board, the Supervisory Board discussed:

  • Current and future developments, such as an overview of the financial and economic markets; Global Alliance for Banking on Values; market share situation in countries with Triodos Bank branches, with a particular focus on the new entry in Germany and the changing environment for renewable energy investments in The Netherlands and Spain.
  • Finance, risk and audit issues, including minutes of the Audit and Risk committee; auditor’s reports; capital raising issue; quarterly and annual reports; loan reports; Triodos Bank’s stress test; Dutch Central Bank matters; and Basel III regulations.
  • Corporate governance and compliance issues, such as salaries; self-evaluation; appointment of new members of the Supervisory Board; the Banking Code; and the renewal of the Supervisory Board rules and charter.
  • A review of the 2009 annual report with the external auditor.

Other issues discussed during the year included:

  • Establishing a long-term agenda for (strategic) issues to be discussed in the Supervisory Board over the next four years.
  • Nomination and Compensation committee minutes and issues, such as an external report on executive compensation. It was decided to make some upward changes in the remuneration packages of senior staff in cases where the difference with market averages is too large, and with the benefit of the findings of a remuneration consultant.
  • Other strategic issues, such as Triodos Bank’s international expansion and specific participations in other sustainable (financial) institutions.
  • Triodos Bank’s involvement in the sustainable real estate market. Triodos Bank has decided to gradually reduce its involvement in this sector, based on market developments.
  • Triodos Bank’s position in the biomass market. Certain loans in this market did not develop according to Triodos Bank’s expectations and adequate provisions were taken for them.
  • Investment in a new office building, due to the growth of Triodos Bank’s workforce.
  • Triodos Ventures acquisition agreement with SBI, a leading international advisory firm in the inclusive finance industry.

The Supervisory Board’s supervision and review activities are based on the Executive Board’s written reports as well as presentations by senior staff. The quality of these reports has further improved during the year. The Supervisory Board is satisfied with the quality of the reports and the level of information provided.

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