Triodos Bank’s 2035 emission reduction targets validated as science-based
The Science Based Targets initiative (SBTi) has validated Triodos Bank’s near-term emission reduction targets as being science-based. Today, Triodos Bank publishes its validated science-based targets.
The emission reduction targets apply to a large part of Triodos Bank’s portfolio of loans and investments and Triodos Bank’s own operations. Triodos Bank has opted for the most ambitious target to bring all emissions related to its own operations in line with the scenario limiting global warming to 1.5°C by no later than 2030. For emissions related to Triodos Bank’s loans and investments the target year is 2035.
Science-based pathway
Science-based targets provide a clearly defined pathway for companies to reduce greenhouse gas (GHG) emissions, helping prevent the worst impacts of climate change and future-proof business growth. Targets are considered science-based if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement: limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.
Jacco Minnaar, Chief Commercial Officer of Triodos Bank: “At a time when climate scientists are giving a final warning to prevent a climate catastrophe, it is crucial that the financial sector aligns its portfolio with the latest scientific insights into limiting global warming to 1.5°C. For Triodos Bank, the validation of our near-term emission reduction targets as science-based is an important step in our journey towards net-zero and a confirmation that our near-term targets are in line with the Paris Agreement.”