Triodos Bank and its investment funds, offered via Triodos Investment Management, finance and co-finance enterprises that increase the use of renewable resources in particular and supports projects that reduce the demand for energy and promote energy efficiency.
It’s important to note that we include an attribution approach in our carbon disclosures. This means that we calculate avoided emissions as they relate to the proportion of our finance in a project. For example, if we are responsible for half of a project’s finance, we report half of the avoided emissions generated by that project. This attribution approach is a more accurate reflection of Triodos Bank’s responsibility for the greenhouse gas emissions of the projects it finances and is consistent with the PCAF methodology.
By the end of 2020, Triodos Bank and its climate and energy investment funds were financing 561 projects (2019: 504) in the energy sector. This included:
484 sustainable power-generating projects related to wind (201), solar (252), hydro (30), or a combination of wind and hydro (1)
42 sustainable power projects in a construction phase
35 energy-efficiency projects including 23 heat and cold storage projects, 1 greenhouse gas-neutral biomass project and a diverse range of energy- efficiency initiatives.
Through our share in these renewable energy projects, about 0.9 million tonnes of CO2 equivalent emissions were avoided (2019: 0.9 million tonnes).
The total capacity of the power-generating projects was 5,100MW (2019: 3,900 MW), producing the equivalent of the electricity needs of 4.8 million households worldwide or 0.7 million based on an attribution approach (2019: 0.7 million).
The organically managed land on the farms which Triodos Bank and Triodos Investment Management financed in 2020 could produce the equivalent of 33 million meals in 2020, enough food to provide a sustainable diet for approximately 30,000 people (2019: 28,000).
Together they financed approximately 32,000 hectares of organic farmland across Europe. This equates to farmland the size of a football pitch for every 14 customers, each one producing enough for 610 meals per year.