TlB Annual Report 2009 - Triodos Bank

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A farmer in the Ferghana Valley in Kirghizia delivers organic cotton to the Bio Farmers Public Union. More than 800 farmers are affiliated with this export organisation, giving them access to the international cotton market. Thanks to trade finance from Triodos Sustainable Trade Fund, Bio Farmers is able to pay its members immediately on delivery.
Triodos Investment Management Triodos Investment Management is the subsidiary of Triodos Bank that is responsible for managing the Triodos investment funds. These funds allow individuals and institutions to invest directly in a number of sustainable sectors, including microfinance, sustainable trade, sustainable real estate, renewable energy, organic farming, conservation and cultural projects. The funds also invest in listed companies worldwide that provide sustainable products or services, or achieve above average social and environmental performance, and actively contribute to sustainable development. The retail investment funds for private investors are distributed by a number of banks, including branches of Triodos Bank. Direct contact is maintained with investors in institutional funds. Please see page 52 for the statement of balance sheet totals. The activities of Triodos Investment Management are organised on the basis of the following themes: Climate and Energy, Private Equity, Emerging Markets, Real Estate, and Socially Responsible Investment (sri). At the end of June 2009, Triodos Bank legally finalised the merger of Triodos Fonds Management bv and Triodos Investment Management bv, which continues under the Triodos Investment Management name. This merger aligns the Bank’s investment management activities and produces significant benefits of scale. In addition, it helps consolidate the knowledge and experience of fund management, fund distribution and investments. In practice, this merger was implemented within the organisation from 1 January 2009. In 2009, the Triodos investment funds’ total assets under management increased by eur 372 million to eur 1,591 million, a 31% increase (2008: 6% decrease). Growth was realised mostly in the second half of the year and in all sectors. Most striking was the significant inflow of money in the three tax benefited retail investment funds: Triodos Groenfonds, Triodos Cultuurfonds and Triodos Fair Share Fund (over eur 220 million in total during 2009). In addition, the launch of the Triodos sicav ii - Triodos Microfinance Fund, and the recovery of stock markets worldwide, contributed to the growth. With this addition to its investment offering the number of investment funds under management increased from 22 to 23. In addition several private placements were realised during the year and prepared for the future. Returns of all funds were roughly in line with their direct competitors or their benchmark, although some exceeded them significantly. Hans Schut: ‘Fighting climate change requires a concerted effort from all stakeholders, guided by governments, and with the financial sector at the helm of funding a transition towards a sustainable future.’ ENERGY AND CLIMATE Triodos Bank’s international energy and climate equity investments and its Dutch energy lending activities are the collective responsibility of a European team of experts with specific teams dedicated to each fund. Its aim is to maximise impact on climate change, with a clear focus on reducing demand for energy and expanding renewable energies. Projects which deliver exceptional efficiency gains in decentralised natural gas applications are also included in the team’s focus. Sustainability and environmental criteria, social criteria and financial criteria are equally important in the investment and lending decisions of the various funds under management. Triodos Bank often applies stricter criteria than others in the market because of its integrated approach, which considers not only the specific project for which finance is demanded, but also the related activities in the value chain. Triodos Bank also takes and encourages initiatives that add to the climate debate. The total Triodos Bank renewable energy equity and loan portfolio in Europe consists of over 275 projects, with a total green power generation capacity of approximately 950 mw, contri- TRIODOS BANK - ANNUAL REPORT 2009 43
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Page 3 and 4: Key figures in pounds amounts in mi
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Page 8 and 9: Triodos Group Structure at 1 Januar
Page 11 and 12: ▼ Supervisory Board Annual Report
Page 13 and 14: Executive Board Annual Report The y
Page 15 and 16: other inspiring values-driven banks
Page 17 and 18: Statement of funds entrusted per br
Page 19 and 20: sustainability levels of the variou
Page 21 and 22: depository receipt was eur 71, incr
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Page 31 and 32: Triodos Bank United Kingdom The fin
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Page 35 and 36: Triodos Bank Spain The economic cri
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Page 39 and 40: Triodos Bank Germany On 1 December
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Page 49 and 50: in developing countries. The fund d
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Page 65 and 66: Corporate Governance Triodos Bank i
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Page 88 and 89: Consolidated balance sheet as at 31
Page 90 and 91: Consolidated statement of changes i
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Page 94 and 95: GOVERNMENT PAPER AND INTEREST-BEARI
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TAXATION ON OPERATING RESULT Taxes
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The balance sheet value of the bank
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Part of the value of securities is
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The movement in goodwill paid is as
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The movement in equipment is as fol
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The movement of the provisions is a
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Fair values The following table set
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INCOME 20. INTEREST INCOME 2009 200
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EXPENSES 26. CO-WORKER AND OTHER AD
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The salary expenses and reimburseme
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27. DEPRECIATION, AMORTISATION AND
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Segment reporting KEY FIGURES 2009
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KEY FIGURES 2008 BY BRANCH AND BUSI
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LENDING BY SECTOR IN 2009 in thousa
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LENDING BY SECTOR IN 2008 in thousa
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Solvency in thousands of EUR The so
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Risk management in thousands of EUR
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Corporates: 100%; Retail exposures:
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Risk-weighted value per country The
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The following table sets out the ac
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Notes: Interest bearing securities
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Solutions for Biotectura is an inno
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Company balance sheet as at 31 Dece
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Company statement of changes in the
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Notes to the company’s financial
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The movement in goodwill paid is as
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36. PROVISIONS 2009 2008 Pension pr
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Auditor’s fees The table below sp
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TO THE ANNUAL GENERAL MEETING OF DE
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Two years ago, Vincent Remy receive
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helping to make sure that we combin
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Board of SAAT MR. J.C. VAN APELDOOR
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MR. J. LAMERS (1948) Jan Lamers is
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Alara in Camden, London, makes cere
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GRI Content Index Triodos Bank prep
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SOCIAL PERFORMANCE INDICATORS: SOCI
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Production Triodos Bank NV 2009 Ann
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TlB Annual Report 2009 - Triodos Bank

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