The Queen's Award for Sustainable Development is awarded for commercially successful products, services and management that benefit the environment, society and the economy.
The bank was recognised for demonstrating a strong sustainability ethos and leading the way in creating a more sustainable approach in the banking sector. It was praised for a clear focus to use money consciously as a catalyst for sustainable change, as Triodos Bank only finances companies, charities, institutions and projects that add cultural value and benefit people and the environment.
The panel also commended Triodos Bank UK as a reference point for how banking can be different, demonstrating that you can marry a more sustainable approach to finance with commercial success.
This is the third time that Triodos Bank has received a Queen’s Award for Enterprise, having previously been recognised in 2004 and 2010.
Since last winning in 2010, Triodos Bank UK has scaled up significantly – increasing its £260m of lending to more than £900m, and growing its customers by threefold, from 20,000 to 60,000. It now employs 200 staff across its Bristol, London and Edinburgh offices.
Dr Bevis Watts, CEO of Triodos Bank UK, said: “The award is particularly poignant as 2020 marks 25 years of Triodos operating in the UK. Over these years, we have stayed true to our mission to finance change by lending solely to sustainable organisations – organic farms, renewable energy projects, social housing, and so much more. However, we’re also working to change finance, by demonstrating to other banks that there is a fairer and more sustainable way to do business.
“This award coincides with a significant moment in time for us all, including the financial sector, given the challenges of Covid-19. We hope that as society recovers, the learnings from this crisis provide an opportunity for all banks to refocus on their role in society and consider the long-term welfare of customers in all their investment decisions. Triodos will continue to play a key role in encouraging this transition.”
The bank encompasses its mission in all aspects of its work – the company has held B Corp status since 2015 and has an energy-efficient, low-carbon UK head office in the centre of Bristol. In 2018, Triodos became one of the first banks in the world to publish the carbon footprint from loan and investment portfolios.
Bevis Watts added: “I’m proud that we’ve been recognised for the incredible change and progress that the bank has made in recent years. We launched the Triodos personal current account in 2017 and provided industry leadership in challenging the myth of free banking and attracted a wider range of ethically minded customers as a result. The heightened awareness around the climate emergency and the social and welfare inequality so evident in the current Covid-19 crisis has made our work, and the need to fundamentally change banking, more relevant than ever before.”
In 2020, just 19 awards for Sustainable Development were issued, with 220 total awards bestowed across all categories.
The Queen’s Awards for Enterprise are the most prestigious business awards in the country, with winning businesses able to use the esteemed Queen’s Awards emblem for the next five years. Just over 7,000 UK enterprises have received the Royal recognition since the Awards were established in 1965.
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Notes to editor
About Triodos Bank
Founded in 1980, Triodos Bank has become a frontrunner in sustainable banking globally. As an independent bank that promotes responsible and transparent banking, it does not see any conflict between a focus on people and the planet and a good financial return. Instead it believes that they reinforce each other in the long-term.
Triodos Bank has banking activities in the Netherlands, Belgium, the UK, Spain, Germany and France as well as Investment Management activities based in the Netherlands but active globally. Triodos Bank co-founded the Global Alliance for Banking on Values (GABV), a network of 54 sustainable banks. Together these banks want to grow sustainable banking and its impact on the real economy substantially.
Triodos Bank UK Ltd is a wholly owned subsidiary of Triodos Bank NV. Registered Office: Deanery Road, Bristol, BS1 5AS. Registered in England and Wales Company No. 11379025. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008. VAT reg no 793493383.