Sustainability-focused bank Triodos Bank announced today a new intermediate greenhouse gas (GHG) reduction target to decrease net emissions by 32% by 2030 across the bank’s entire loans and funds’ investments portfolios.
The announcement aligns with Triodos’ goal of reaching net zero by 2035.
Triodos’ new target forms part of the bank’s commitments as a member of the Net Zero Banking Alliance (NZBA), a UN-convened coalition of banks dedicated to advancing global net zero goals through their financing activities.
Signatories to the alliance commit to transitioning operational and attributable GHG emissions from lending and investment portfolios by disclosing intermediate targets to the NBZA as well as updating the alliance on progress made within bank investment portfolios.
Triodos was one of the first banks to join the NZBA upon its founding in April 2021. The company has also set an ambition to become net-zero by 2035 covering 100% of its lending and investments portfolios.
Triodos expects net absolute emissions to be “relatively stable” until 2025 and to start declining from then onwards, a result of reduction efforts diminishing the carbon intensity of portfolios and sequestration investments to neutralise remaining emissions.