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Triodos Bank sets target to reach net zero by 2035
Triodos Bank has announced plans to become net-zero by 2030.
The banking group’s new target comes as it hopes to focus its portfolio of loans and funds’ investments into sustainable economies.
“In setting out a target by 2035 we are challenging the financial sector. As a bank that has led the way on carbon disclosure and already has a low carbon-emitting portfolio – we already know our starting point and can see the realities of how difficult achieving net-zero will be,” said Bevis Watts, the chief executive of the bank.
“We need to see much faster action by the financial sector with disclosure of current emissions, targets and transition plans verified by the Science Based Targets Initiative and regulation mandating this. The financial sector has to lead the economic transition to net-zero and ensure everyone is included in a just transition.”
The bank aims to achieve a net-zero status in a number of ways including supporting mortgage customers to make their homes more energy-efficient, financing new green energy infrastructure, and future portfolios to consist of new natural capital.
Main photo: Triodos Bank
Read more: Is Bristol a leader in sustainability?
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