TlB Annual Report 2009 - Triodos Bank

in developing countries. The fund did not grow
because of the Dutch Government’s inability to
provide financial support. A similar new public
private investment vehicle did not materialize
for the same reason. The Copenhagen Climate
Change Conference has reconfirmed that these
types of investment funds for sustainable energy
in developing countries are important and
Triodos Bank continues to explore opportunities
in this sector.
STICHTING TRIODOS CLIMATE CLEARING
HOUSE (THE NETHERLANDS)
Stichting Triodos Climate Clearing House, set
up in 2000 as a registration platform for CO2
credits from sustainable forestry projects,
closed by the end of 2009. The platform has
served to catalyse voluntary carbon offset
activities.
SUSTAINABLE ENERGY FUND
(THE NETHERLANDS)
During the year Triodos Bank and bng launched
a plan for a public vehicle for investment in a
sustainable energy sector. Its focus is on The
Netherlands. The bank will explore the appetite
of Provinces and Municipal authorities to
invest in the fund, which aims to reduce CO2
emissions and contribute to renewable energy
targets for 2020 and beyond. The fund aims to
deal with the limitations of the financial sector
to fund the many initiatives in the clean energy
and energy saving sector. Several provinces and
cities have exited from their investments in
their regional utilities and can reinvest in this
fund as a sustainable alternative. The new fund
aims to offer a variety of financial products and
targets including energy saving, renewables,
and a variety of local energy related initiatives.
ENERGY AND CLIMATE INVESTMENT FUNDS
PROSPECTS FOR 2010
Triodos Investment Management expects that
renewable and energy saving finance will
remain a growth market. Triodos Groenfonds
expects a substantial growth of its net assets in
2010. Triodos Renewables Europe Fund expects
to grow by 40% in 2010 to eur 45 million.
Ampere Equity Fund aims to have invested over
60% of its committed capital before the end of
2010. Triodos Bank also aims to have the new
Sustainable Energy Fund Netherlands up and
running.
PRIVATE EQUITY
Triodos can finance commercial companies
driven by a sustainability mission, through the
provision of the right quality of equity finance.
Because we understand the objectives of the
social entrepreneurs creating positive social
and environmental impact through commercial
activity, we are able to offer long term solutions:
either through our own funds, offering direct
investment and active participation via a more
patient form of venture capital, or by acting as
lead advisor via a corporate finance mandate to
raise the appropriate blend of capital.
TRIODOS VENTURES (EUROPE)
Triodos Ventures, a subsidiary of the independent
entity Stichting Triodos Holding, has
made a series of investments in affiliated banks
in Europe over recent decades. In addition,
Triodos Ventures invests in sustainable initiatives
making breakthroughs in specific sustainable
areas. The fund holds investments in a
small number of well established sustainable
enterprises. It also funded the real estate project
development activities of Triodos Bank during
the year. Triodos Ventures’ portfolio at the year
end 2009 includes approximately 30 projects.
TRIODOS EIS GREEN FUND (UK)
Triodos eis Green Fund was launched for the
2008/09 uk tax year raising gbp 1.5 million. It
invests in a portfolio of high growth-potential
sustainable uk companies, which it believes can
deliver high returns to investors in the following
sectors; renewable energy generation and technology,
energy efficiency, sustainable living,
low carbon products and technology and waste
recycling and reduction. The second Triodos
eis Green Fund (Triodos eis Green Fund ii) is
open for investment until 9 April 2010.
TRIODOS SOCIAL ENTERPRISE FUND (UK)
Triodos Social Enterprise Fund (formerly the
Triodos Opportunities Fund) invests in high
impact and commercially sustainable social
enterprises, and provides expertise to help
them grow. The fund raised nearly gbp 4
million in 2009 following its launch in 2007.
The fund brings together social investors who
are looking for meaningful ways to put their
money to work with promising social enterprises.
Its mission is to deliver social and financial
returns to its investors by funding the next
generation of pioneering social enterprises.
TRIODOS BANK - ANNUAL REPORT 2009 45