Triodos Bank, a bank with a focus on sustainability, has established a new intermediate greenhouse gas (GHG) reduction objective to reduce net emissions by 32% by 2030 across its whole loan and fund investment portfolio.
The declaration is consistent with Triodos's objective of reaching net zero by 2035.
Triodos's new objective is in line with the bank's objectives as a member of the Net Zero Banking Alliance (NZBA), an UN-convened consortium of banks committed to furthering global net zero goals through their financing activities.
Signatories to the alliance agree to transition operational and attributable greenhouse gas (GHG) emissions from lending and investment portfolios by publishing intermediate targets to the NBZA and updating the alliance on the progress made within bank investment portfolios.
Triodos was one of the first banks to join the NZBA in April 2021, when it was founded. The corporation has also established a goal to achieve net-zero for its whole lending and investment portfolio by 2035.
Triodos anticipates that net absolute emissions would stay "pretty steady" until 2025 and then begin to decline as a result of efforts to reduce the carbon intensity of portfolios and investments in carbon sequestration to neutralise residual emissions.