Triodos will bring the challenger bank charge to net zero by 2035

Alternative loansDigital bank

Forget 2050, the Dutch bank is pushing back its 15-year net zero target.

Image source: Bevis Watts / Triodos Bank.

Sustainable bank Triodos hopes to outperform its competitors by reaching net zero before the widely accepted 2050 target that many of its peers are aiming for.

In particular, Triodos Bank expects a significant reduction in its corporate loan issuance even though it plans to increase its loan portfolio.

“By setting a target by 2035, we are challenging the financial sector,” said Bevis Watts, CEO of Triodos Bank UK.

“As a bank that has led the way in carbon disclosure and already has a low carbon portfolio, we already know where we are starting from and can see how difficult it will be to achieve the net zero. “

Watts said the plan includes moving more of its residential mortgage customers to make their homes more energy efficient, increasing its loans for green energy infrastructure projects and natural capital, supporting l organic farming and biodiversity.

“We need to see much faster action from the financial sector with the disclosure of current emissions, targets and transition plans verified by the Science Based Targets Initiative and the regulations requiring it. The financial sector must lead the economic transition to net zero and ensure that everyone is included in a just transition, ”he added.

In addition to targeting the goal, Triodos will also have its plans reviewed by an external auditor and will have its goals validated by the Science Based Targets initiative.

In 2025, Triodos will revise its plans to ensure it is on track to meet its new 2035 target.

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