Triodos Bank: ‘The Financial Sector Should Divest Fossil Assets’

Triodos Bank: ‘The Financial Sector Should Divest Fossil Assets’

Jul 19, 2018
Image credit: Sam Bark via Unsplash
Thursday, July 19, 2018

Zeist, Netherlands – In response to the outline of the Climate Agreement Triodos Bank has issued a statement asking financial institutions to rapidly reduce their fossil investments.

Triodos Bank is currently promoting a movement to push the financial sector to actively commit itself to the goal of the Climate Agreement: CO2 reduction of 49 percent by 2030. “This not only means more green financing, but also accelerated reduction of fossil assets”, says CEO Peter Blom of Triodos Bank. “All Dutch assets of financials must show at least a 49% reduction by 2030.” According to him, that means that financial institutions should be crystal clear in their conversation with companies: ‘Do you participate in the transition? If not, we will terminate your financing.’

According to Peter Blom, the drive towards sustainability should not only come from the government, but pressure from financial institutions is also urgently needed. “The results of the climate tables so far show that this is particularly relevant for agriculture, industry and mobility.”

Triodos Bank itself actively contributes to the climate tables, including offering a financing solution for making millions of homes more sustainable in the years ahead. From 2018 the financial institution will also start to measure and report on the carbon footprint of its loans and investments using the methodology developed by PCAF.

Image credit: Sam Bark via Unsplash