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The GABV Scorecard

The Global Alliance for Banking on Values (GABV) has developed the scorecard with a view to providing stakeholders with a comprehensive view of an individual institution’s sustainability performance and to allow them ultimately to compare the sustainability performance of different banks.

The project is in a pilot phase so comparing banks across the GABV network, and beyond it, is not yet possible. The members of the GABV intend to implement the scorecard in their 2014 annual reports when comparisons will be made.

Explore Triodos Bank’s sustainability performance in the GABV Scorecard, using the tabs below:


The scorecard is divided between basic requirements, objective factors and qualitative elements. These sections provide details of a bank’s mission and transparency; builds on this with carefully selected data that highlights the extent to which a bank is engaging in sustainability as its core activity; and explains how a sustainability agenda translates into the everyday work of a bank and its co-workers.

Basic Requirements

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Objective Factors

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Objective Factors

Qualitative Elements

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Qualitative Elements

Basic Requirements

Regulated Financial Institution

Triodos Bank is a regulated financial institution with branches in The Netherlands, where its head office is based, Belgium, United Kingdom, Spain, Germany and a representative office in France.

Triodos Bank N.V. falls under the regulatory framework of the Dutch Central Bank (DNB). All Triodos Bank entities, including all its branches are supervised by the DNB. Triodos Bank falls under the Dutch deposit guarantee scheme, effectively protecting savings and deposits up to €100,000.

Triodos Bank offers a full set of banking services in most of the countries where it operates and, in all of them both takes deposits and makes loans.

Chamber of Commerce: Utrecht 300624150000. Banking license since 1980 under the "2:13 lid 1 Uitoefenen van het bedrijf van bank met beleggingsdiensten".

Mission Statement

Triodos Bank is in business to:

  • Help create a society that promotes people’s quality of life and that has human dignity at its core,
  • Enable individuals, institutions and businesses to use money more consciously in ways that benefit people and the environment, and promote sustainable development,
  • Provide customers with sustainable financial products and high quality service.

Triodos Bank is Europe’s only pan-European values-based bank.

There is more on Triodos Bank’s mission statement on our website.

Reporting Transparency

Triodos Bank publishes details of all its loans in every country where it operates in a range of ways: including via ‘Know Where Your Money Goes’, an online resource on all its websites, via a mobile app in The Netherlands (the first app in the world to connect a bank’s customers with the enterprises their savings finance), and through various on and offline communications.

Stories and data are reported in Triodos Bank’s annual report, alongside interviews with Triodos Bank’s managing directors, detailing the impact of its work in the sectors where it is active.

Triodos Bank played a significant role in developing the GRI reporting guidelines, has reported to an A+ level in its annual report over the past five years, and co-created and is an active stakeholder in the Principles for Investors in Inclusive Finance, part of the United Nations Principles for Responsible Investment (UNPRI). It also sits on the Investors Council of the Global Impact Investing Network, among other organisations.

Triodos Investment Management’s funds publish annual reports and host AGMs for their investors, providing open access to the organisation’s co-workers.

Customers are connected directly with the enterprises financed by Triodos Bank through special events and visits in all of its countries, in addition to its AGM.

Objective Factors

Bank Resiliency through Earnings – 3 year Average Return on Assets 0.41%

Market Comparison – 3 Year Average Return on Assets 0.29%

While Triodos Bank has offices in five countries, as a market comparison we have considered other banks domiciled in The Netherlands and used 2012 figures. Average ratios have been weighted by balance sheet size (giving greater weight to larger banks). We have only used year end assets data (and not a daily, monthly or quarterly average of assets because these figures are not available).

Bank Resiliency through Capital – Equity to Total Assets 10.1%

Bank Resiliency through Asset Quality – Low-quality Assets to Total Assets 2.8%

Market Comparison – Low-quality Assets to Total Assets 2.26%

Bank Resiliency through Client Based Liquidity – Client Deposits to Total Assets 87.6%

Assets Committed to the Real Economy to Total Assets 55.0%

Revenues from the Real Economy to Total Income 75.0%

Clients with Direct Exposure relative to Total Clients 100.0%

Total number of clients is 517,000.

Assets Committed to the Triple Bottom Line to Total Assets 55.0%

Qualitative Elements

Governing board demonstrates strong commitment to Sustainable Banking with diverse expertise to ensure all aspects of Sustainable Banking are addressed

High Level Direction

A triple bottom line (People, Planet, and Prosperity) approach at the core of the organisation, determines everything it does, including its approach to governance.

The bank chooses not to be listed and a Board (the Board of SAAT) is entrusted with the bank’s share capital with a clean mandate to protect the mission, continuity and financial interests of investors to whom it issues depository receipts.

Implementation or Processes

The Supervisory Board and Board of SAAT members are appointed on the basis of the extent to which they combine professional expertise and a connection with the values that underpin the bank. If it’s necessary to prioritise one of these two elements, in the case of recruiting a Chair of the Supervisory Board for example, values have primacy.

All Triodos Bank’s Boards aim to be well-diversified, with an adequate balance of nationalities, age, experience, background and gender.

The Supervisory Board’s objective is for no more than 70% of its seats to be held by either gender.

Identifiable Results

From May 2013 there were five male and two female members of the Supervisory Board respectively (approx a 70/30% ratio), reflecting an international perspective with Dutch, Spanish, British and Belgian representation and representing a breadth of expertise.

Board of SAAT has five members: two Dutch, and one British, Belgian and Spanish respectively. It is made up of three women and two men (a 60/40% ratio), with broad expertise.

The Board participates in a permanent education programme. In 2013 that included addressing the core values of Triodos Bank and their personal and professional relevance.

Out of 16 agenda items discussed by the Supervisory Board with the Executive Board and highlighted in its 2013 annual report, 10 were directly related to sustainability. Although every item ultimately relates to Triodos Bank’s values-based purpose.

CEO and direct reports demonstrate a real commitment to Sustainable Banking leadership and accountability

High Level Direction

All Triodos Bank co-workers, especially individuals in leadership positions, are recruited because of an affinity with the sustainable values that underpin the banks’ work, as well as their professional expertise.

Their performance is measured on the extent to which the bank’s mission is delivered.

The organisation believes that more diverse management creates a healthier culture and will have a positive impact on its achievements.

Implementation or Processes

Recruitment and performance monitoring of senior co-workers have sustainability integrated in them

Identifiable Results

CEO and Managing Directors regularly speak as thought leaders on values-based banking at events and via extensive media coverage in their countries. In 2013, this included:

  • public recognition by the President of the World Bank for the CEO and GABV at the World Bank 2013 annual meeting
  • CEO joined the G8 Social Investment Taskforce
  • Senior participation in consultations such as Parliamentary Commission into Banking Standards, in the UK (July);
  • and De Groene Zaak ('The Green Cause'), a Dutch lobbying organisation for sustainable companies, and responded to a consultation on the EU Green Paper on Long-Term Finance.
  • Triodos Bank co-founded and the CEO Chairs the Global Alliance for Banking on Values
  • Triodos Bank co-founded the Dutch Sustainable Finance Lab in 2010, an initiative of scientists from different disciplines focused on building a more sustainable and resilient banking sector, delivering various papers and events during 2013.

Sustainable Banking performance is tracked and reported – internally and externally

High Level Direction

Tracking and reporting financial and non-financial performance is a core part of the bank’s ‘business as usual’.

Triodos Bank’s strategy is to deliver its mission as a sustainable product and service provider, by developing meaningful relationships that connect its values with a credible set of services; as a reference point for sustainable banking; to further embed its culture in the values of the organisation; and to do this while providing a fair return for its investors given prevailing economic conditions.

These goals are set out explicitly in a rolling three-year strategic plan at corporate, national and departmental levels.

Implementation or Processes

All the loans Triodos Bank makes are published in all the countries where it operates.

Its annual report details the sectors where Triodos Bank is active on its websites.

Non-financial impact is reported with a bias for story-telling. Data is used to support this qualitative information.

Evidence of impact is integrated with more conventional banking figures, such as capital ratios which reflect the resilience of the bank and its commitment to financing sustainable enterprise in the real economy.

All non-financial impact data is related back to people reflecting Triodos Bank’s mission.

Identifiable Results

Loans are only made to sustainable businesses and increased by 8% in 2013

  • Culture: 16.3 million visitors enjoyed cultural events including films, theatres and museums across Europe (2012: 5.7 million).
  • Care for the elderly: 14,720 individuals (2012: 9,840) used facilities offered by care for the elderly projects at 215 care homes (2012: 150).
  • Organics: organically managed land on the farms financed by Triodos Bank could produce the equivalent of over 19 million meals in 2013; enough food to provide a sustainable diet for 17,670 people during the year (2012: 16,800).
  • By the end of 2013, Triodos Group and its climate and energy investment funds were financing 376 projects across Europe (2012: 346), contributing to a generating capacity of 2,280 MW of energy (2012: 2,038 MW), or enough energy to meet the electricity needs of the equivalent of 1,480,000 European households during the year (2012: 1,300,000).
  • 187,500 individuals benefited from the work of educational establishments financed by Triodos Bank in 2013 (2012: 65,800)
  • Triodos Investment Management’s microfinance funds provided finance to 110 microfinance (2012: 99) institutions and other financial vehicles, in 44 countries (2012: 45), serving 7.9 million savers (2012: 6.4 million), and 8.4 million borrowing clients (2012: 6.9 million)
  • Data on Triodos Investment Management’s non-financial impact is set out here
  • Customers increased by 18% to 517,000

Initiatives are in place to embed Sustainable Banking throughout the organisation

High Level Direction

Triodos Bank only finances enterprises that benefit people, the environment and culture. All strategic and policy efforts, regardless of the specific discipline within the bank, reflect this focus.

Sustainability criteria is articulated in published positive and negative screening criteria documents, which determine lending and investment decisions. In practice, sustainability criteria inform the development of all new products as an explicit part of the innovation process.

Gift money is also viewed as an important part of the role money can play in improving quality of life through finance, and the Triodos Foundation is active in all the countries where Triodos Bank operates as a result.

Implementation or Processes

(internal) three year business plans at corporate, national and departmental level are adopted across the organisation which integrate these objectives.

New products are developed with sustainability integrated in them – from new funds to apps which connect savers with loans.

Triodos Bank uses distinctively positive lending criteria.

It also publishes its approach to lending including both positive and negative sustainability criteria for finance decisions.

This is underpinned by Business Principles which detail the bank’s mission, vision and values and what they mean in practice.

Savers, in some countries, can donate part of their interest to a charity.

Identifiable Results

Triodos Bank continued to lend exclusively in sustainable sectors: Environment (49%, 2012: 49%), Social (29%, 2012: 28%) and Culture (15%, 2012: 12%). In addition an ‘Other’ category (7%) includes loans to NGOs, local government, consultants, architects, research groups, and others who are all contributing to creating a more sustainable future.

In 2013, 401 organisations (2012: 404) received total donations of EUR 0.4 million (2012: EUR 0.5 million) in this way.

Triodos Investment Management is pioneering a new model for impact investing: mission aligned private equity, with a long-term focus, not driven by exits. This is crucial for the further expansion of the fast growing sector for organic food and sustainable consumer products in Europe. Preparation for the launch of a new Organic Growth Fund (launched Jan 2014) delivered to provide long-term capital for the sector’s European front-runners that are now hampered in their growth.

The organisational structure facilitates Sustainable Banking integration in daily activities

High Level Direction

Triodos Bank’s organisational structure is developed on the basis of its mission and is wholly dictated by sustainability considerations.

Triodos Bank is a climate neutral business.

Implementation or Processes

Triodos Bank’s governance structure is designed to protect its mission (see above).

Branches have national and sectoral expertise allowing them to build relationships and finance sustainable enterprise in the long-term interests of entrepreneurs and the sustainable sectors they operate in.

Triodos Investment Management, a 100% subsidiary of Triodos bank, has 19 Funds and only serves sustainable sectors, including arts and culture, inclusive finance, sustainable trade, food and agriculture, energy and climate, sustainable real estate and listed companies with above average sustainable performance.

Private Banking provides advice for wealthier individuals, family offices and organisations taking responsibility for the sustainable impact of their finance.

Detailed processes are in place to ensure Triodos Bank's resources deliver its mission. An active and audited Environmental Management System (EMS) monitors and reduces the adverse environmental impact of all Triodos Bank’s activities. Policies in procurement, buildings infrastructure and products and services monitor and improve performance.

Identifiable Results

Published environmental impact data includes details of energy consumption, co-worker travel, commuting, paper usage, and CO2 emissions per FTE and by building. Triodos Bank offsets 100% of its CO2 emissions. More details can be found in the Environmental Report.

  • Electricity use – 9.5% decrease per fte, 8% decrease per m2 (in 2013)
  • Printed paper – 30% decrease per customer
  • Flights – 8% increase per fte and 3% increase per customer. A pilot project using video conferencing, connecting all the offices, was launched in 2013 to reduce co-workers air travel. Use of a videoconference system is increasing rapidly and should impact on these numbers in 2014.

Sustainable Banking is embedded in incentive, compensation, and performance structure

High Level Direction

Co-workers’ connection with Triodos Bank’s values are enhanced through weekly meetings in all branches, and a thorough induction process focusing on the bank's mission and practice.

Various training modules and courses provide both an international and local focus, for example via the Triodos Academy, including a values seminar, management development programme and visionary leadership programme.

Implementation or Processes

Triodos Bank has a moderate remuneration policy without bonuses, to create a healthy and simple system.

Triodos Bank chooses not to offer bonus or share option schemes to either its Board members or co-workers. Financial incentives are not considered an appropriate way to motivate and reward co-workers. Sustainability is, by definition, the result of a combined effort of team members aimed at both the short and long term.

Triodos Bank’s co-workers’ connection with its values is strengthened through weekly meetings in all branches, and a thorough induction process focusing on the bank's mission and practice. Various training modules and courses provide both an international and local focus.

Active ‘Works Councils’ in The Netherlands, Belgium, Spain and a co-worker’s forum in the UK, provide an addition voice for co-workers at all levels.

Identifiable Results
  • The ratio between the minimum and the maximum salary in The Netherlands in 2013 was 9.4 (2012: 9.4).
  • co-worker numbers increased by 15.5% in 2013, from 788 to 911
  • The number of women in management positions is stable at 40% (2012: 42%)
  • Absence in 2013 was 2.5% (2012: 3%). Target is 3%.
  • 82 co-workers participated in the different programmes of the Triodos Academy
  • The annual Co-worker Conference took place in Berlin (120 attendees)
  • Co-workers participated in Values Seminars, a management development programme and an innovative Visionary Leadership Programme during the year
  • An equal award to all co-workers, regardless of their role, of EUR 300 was shared for their performance in 2013 as a positive alternative to a bonus structure.