Triodos wins Sustainable Bank of the Year Award

Triodos Bank beat some of the biggest banking names globally to win Sustainable Bank of the Year at last night’s FT Sustainable Banking Awards. The awards are run by the Financial Times and IFC, a member of the World Bank Group, and recognise banks and other financial institutions that have shown leadership and innovation in integrating social, environmental and corporate governance considerations into their operations.

"Sustainability is neither a soft, nor purely a CSR, issue," says UK Managing Director Charles Middleton. "It extends beyond social and environmental concerns to the health of the economic system itself. We have seen these changes at first hand, operating across five European countries and around the world through our microfinance activity."

Ethical specialist Triodos Bank operates in the UK, the Netherlands, Belgium, Spain and Germany. And through the management of three microfinance funds the bank lends to and invests in over 85 microfinance institutions in 38 countries, spread across Africa, Latin America, Asia and Eastern Europe.

"We want to help build a more sustainable financial system. Winning the FT Sustainable Bank of the Year Award provides welcome recognition and encouragement for our efforts to do just that," says Charles Middleton.

Nominees were selected from among 165 entries from 117 institutions across 42 countries. Also shortlisted for the Sustainable Bank of the Year Award were Germany’s Deutsche Bank, Grupo Santander in Brazil, the Industrial Bank in China and Standard Chartered from the UK. This is the first time Triodos Bank has entered the awards.

The Judges said: "Triodos raises a fundamental question. Do the issues that have gripped the financial sector in 2008 mean we need to review the industry's business model? And if we do, what does the new model look like?

"Triodos' exceptionally good application reflects the emergence of a specific type of financial institution that is integrating sustainability considerations not just at the level of 'how' - enhanced governance, ethical and social risk screening -- but also at the level of 'what' - financing the sectors and companies whose mission statement is to accelerate the transition to a low-carbon and sustainable economy, eg: renewable energy, organic agriculture, poverty reduction, micro-credit, rural tourism, etc.

"Is this still niche? Is it boutique? Or is it the model for the future? Triodos has demonstrated the model's potential, with average annual growth of 20% in the past 10 years, 25% growth in 2008, and 3.7 billion euros under management. This is consistent, cohesive performance. What Triodos has tried is something radically different, and it appears to be working. If this isn't the year when it's been demonstrated that we need a new model, when is?"

For more information please call Will Ferguson on 0117 980 9770 or e-mail william.ferguson@triodos.co.uk.

Notes to Editors:
Triodos Bank only finances enterprises creating social, environmental or cultural added value - ranging from large ethical enterprises to smaller, innovative organisations meeting local needs. Key sectors include organic food and farming, renewable energy, social housing and fair trade. Transparency is a core value: customers are informed about the bank’s lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered and full banking services are available for businesses and charities.