Award-winning bankingEthical Business News & Features
Triodos Bank UK receives prestigious Queen's Award for Sustainable Development
Home » Award-winning banking
Published: 29 April 2020
This Article was Written by: Jarvis Smith - My Green Pod
Triodos Bank UK has been announced as a 2020 winner of the Queen’s Award for Enterprise, in the Sustainable Development category.
The Queen’s Award for Sustainable Development is awarded for commercially successful products, services and management that benefit the environment, society and the economy.
Using money consciously
The bank was recognised for demonstrating a strong sustainability ethos and leading the way in creating a more sustainable approach in the banking sector.
Triodos Bank only finances companies, charities, institutions and projects that add cultural value and benefit people and the environment.
It was praised for a clear focus to use money consciously as a catalyst for sustainable change.
How banking can be different
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; it was also recognised in 2004 and 2010.
Over the last 10 years Triodos Bank UK has scaled up significantly – increasing its £260m of lending to more than £900m and growing its customers threefold, from 20,000 to 60,000. It now employs 200 staff across its Bristol, London and Edinburgh offices.
‘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.’
DR BEVIS WATTS
CEO of Triodos Bank UK
The bank’s mission is embedded 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.