Impact strategy

Socially Responsible Investing

If multinational companies move in a more sustainable direction even one step at a time, then their positive impact will be significant.

Today's global challenges

Today’s global challenges are interconnected and we are faced with pressures on the environment, our society, and  from an economy forged in facts and figures. Now more than ever, the momentum and global commitment is in place to address these challenges and one form of recognition is through the United Nations Sustainable Development Goals (SDGs). The SDGs are a joint effort between to public and private sectors to realise a set of goals to end poverty, protect our planet and ensure prosperity for all. Multinationals have a critical role to play to help meet these goals. Socially Responsible Investing (SRI) can act as a catalyst to accelerate sustainable change and encourage companies helping to deliver it.

Our mission

We believe that in the long term, the most successful businesses will be those that achieve the right balance between their social, environmental, and economic performance.

Suggested funds

Why invest?

Impact goals

1. Clean planet

The natural environment is increasingly under pressure from pollution, deforestation, and an overuse of resources. We therefore invest in companies that contribute to a clean planet and the development of environmental solutions, such as: technology aimed at preventing and cleaning up pollution, equipment to monitor energy and water consumption, alternative forms of transport, etc.

2. Climate protection

Climate change in particular poses a serious threat to the long-term health of the environment and society. It requires companies and citizens to work together to mitigate the negative impact. We encourage companies in the Triodos SRI Funds' portfolios and the Sustainable Investment Universe to contribute to combating climate change.

3. Healthy people

Triodos IM also invests in companies that contribute to a healthy lifestyle. These companies offer solutions for health care issues such as medical technology, or clean drinking water, or medicines based on natural ingredients and organic products.

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Investment approach

Our investment process consists of building the Triodos Sustainable Investment Universe based on rigorous criteria set by Triodos Research, and constructing the investment portfolio of our four SRI funds.

Building the sustainable investment universe

Any company that derives more than 50% of its revenues from sustainable activities that contribute to the well-being of people and planet qualifies for investment.

If a company does not derive more than 50% of its revenue from sustainable activities, it can be selected for its leading role in corporate social responsibility (CSR) within its sector. Such a best-in-class company scores in the top 50% among its sector peers on ESG criteria. We select best-in-class companies using over 70 generic and sector-specific criteria, related to ESG issues.

Minimum standards

Our minimum standards ensure that we do not fund any business engaged in activities that are harmful to individuals, society or the environment.

Reasons for exclusion:

Involvement in violation of labour and human rights, environmental damage, unsatisfactory corporate governance;

Producing or providing harmful products or services, such as gambling, nuclear power, pornography and weapons. Depending on the product or service, we either have zero tolerance or a degree of acceptance up to 5% of a company’s total turnover;

Companies operating in sectors with an increased sustainability risk are excluded unless they proactively try to improve operations.

Portfolio construction

Triodos IM manages the four Triodos SRI funds in close cooperation with Delta Lloyd Asset Management. The actual portfolio construction is delegated to Delta Lloyd, who selects equities and bonds based on fundamental financial analysis.

Continuous improvement

Engagement

Engaging with companies starts during the investment selection process and continues after they have been selected into the investible universe. Triodos Research actively monitors com­panies, doing a full re-assessment every three years. A potential breach of Triodos’ minimum standards leads to an in-depth investigation and could result in exclusion from the Triodos Sustainable Investment Universe.

Read our 2016 engagement report

Shareholder collaboration

To further increase our ability to influence company behaviour, we collaborate with other shareholders. In 2009, we therefore signed the Principles for Responsible Investment from the United Nations, a global initiative that enables us to work together with 500 like-minded investors around the world.

Proxy voting

Triodos Research has a mandate to exercise the shareholder rights of the SRI funds and votes to support the long-term interests of both shareholders and other company stakeholders. We inform all investee companies about our voting decisions, in order to stimulate awareness.

Click the expand to see how we voted.

How we voted

Companies A-G

3i Group | 2015 |
Accor | 2015 |
Active Power | 2013 |
Acuity Brands | 2016 | 2017 |
Adecco | 2013 | 2014 | 2015 | 2016 | 2017 |
Adidas | 2013 | 2014 |
Adobe Systems | 2013 | 2014 | 2015 | 2016 | 2017 |
Aegion | 2014 |
Aetna AGM | 2013 | 2014 2015 2016 | 2017 |
Aetna EGM  | 2015 | 
Ahold AGM | 2013 | 2014 | 
Ahold EGM | 2014 | 
Amadeus IT Holding | 2016 |
Annie's | 2013 |
Anthem AGM | 2015 | 2016 | 2017 |
Anthem EGM | 2015 |
Align Technology | 2017 |
AON | 2014 | 2015 |
Asahi Holdings | 2013 | 2014 | 2015 |
Assa Abloy | 2015 | 2016 | 2017 |
Atlantia AGM | 2013 | 2014 | 
Atlantia EGM | 2013 |
Atlas Copco | 2013 |
Badger Meter | 2014 | 20152016 | 2017
Baxalta EGM | 2016 |
Baxter | 2014 | 2015 | 2016 | 2017
Becton, Dickinson and Company  | 2017 | 
Beijng Enterprises Water | 2014 | 2015 | 2016 |
BMW AGM | 2013 | 2014 |
BMW EGM | 2014 | 
Boston Properties | 2015 | 2016 | 2017 |
Brambles | 2016 |
British Land | 2013 | 2014 | 2015 | 2016 |
BT Group AGM | 2013 | 2014 | 2015 | 2016 |
BT Group EGM | 2015 |
Bunzl | 2013 |
Bureau Veritas | 2013 |
Canadian National Railway | 2013 | 2014 | 2015 | 2016 | 2017 |
Canadian Solar | 2014 | 2015 | 2016 |
Calgon Carbon | 2014 |
Capstone Turbine | 2013 | 2014 |
Carrefour | 2013 | 2014 |
CECO Enviromental Corp AGM | 2013 | 2014 | 2015 |
CECO Enviromental Corp EGM | 2013 | 2015 |
CME | 2013 |
Cerus | 2015 | 2016 |
China Everbright | 2014 | 2015 | 2016 | 2017 |
Chipotle Mexican Grill | 2015 | 2016 |
Cognizant Technology Solutions | 2014 | 2015 | 2016 |
Coloplast | 2013 | 2014 | 2015 | 
Comcast AGM | 2014 | 2015 | 2016 | 
Comcast EGM | 2014 | 2015 | 
Continental | 2015 |  2016 | 2017 | 
Cree | 2014 | 
CT Environmental AGM | 2015 | 2016 |
CT Environmental EGM | 2015 |
CT Environmental EGM 2 | 2015 |
Delphi Automotive | 2015 | 2016 | 2017 |
Denso | 2013 | 2014 | 2015 | 2016 |
Dentsply | 2013 | 2014 | 2015 | 2016 |
Dentsply Sirona | 2016 | 2017 |
Deutsche Telekom | 2013 | 2014 | 2015 | 2016 | 2017 |
Diageo | 2013 | 2014 | 2015 | 2016 | 2017
Dialight | 2013 | 2014 | 2015 |
Donaldson | 2013 |
DNB NOR | 2013 | 2014 | 2015 |
DSM | 2014 | 2015 |
DS Smith | 2014 | 2015 | 2016 | 2017
Ebay | 2013 | 2014 | 2015 |
EDP Renovaveis | 2013 | 2014 | 2015 | 2016 | 2017 |
Edwards Lifesciences | 2013 | 2014 | 2015 | 2016 | 2017 |
Elekta | 2014 |
EMC AGM | 2013 | 2014 | 2015 | 2016 |
EMC EGM | 2016 |
Enel Green Power | 2013 | 2014 |
Enernoc | 2013 | 2014 | 2015 |
Enphase Energy | 2014 | 2015 | 2016 | 2017 |
Ericsson | 2013 | 2014 |
Essilor International | 2017 |
Express Scripts | 2014 | 2015 | 2016 |
First Solar | 2013 | 2014 | 2015 | 2016 | 2017 |
Fresenius Medical Care | 2013 | 2014 | 2015 | 2016 | 2017 |
Fuelcell Energy | 2013 | 2014 | 2015 | 2016 |
FuelTech | 2013 |
Gamesa | 2015 | 2016 |
Gerresheimer | 2014 | 2015 | 2016 | 2017 |
Getinge | 2013 |
Google | 2013 | 2014 |
Great Portland Estates | 2013 | 2014 | 2015 | 2016 | 2017 |
Green Mountain Coffee Roasters | 2014 |
GT Advanced Technologies | 2013 | 2014 |

Companies H-P

Hain Celestial | 2013 | 2014 | 2015 |
Hammerson | 2013 | 2014 | 2015 |
Hannon Armstrong | 2015 | 2016 |
Heineken | 2017 |
Henkel AGM | 2014 |
Henkel EGM | 2015 |
Hennes & Mauritz AGM | 2015 | 2016 | 2017 |
Hennes & Mauritz EGM | 2016 |
Huhtamaki | 2013 | 2014 |
Hydrogenics | 2014 | 2015 | 2016 | 2017 |
Inditex | 2013 | 2014 | 2015 | 2016 |
ING Group | 2013 | 2014 | 2015 | 2016 | 2017 |
Ion Beam Applications | 2014 | 2015 | 2017 |
Interface | 2014 | 2015 |
Intertek | 2013 |
Insulet | 2015 |
Intuit | 2013 | 2014 | 2015 | 2016 | 2017 |
Itron | 2013 | 2017 |
Johnson Matthey Public AGM | 2013 | 2014 | 2015 | 2016 |
Johnson Matthey EGM | 2015 |
Jones Lang Lasalle | 2015 | 20162017 |
Kadant | 2013 | 2014 | 2015 | 2016 | 2017 |
Kering | 2014 |
Kingspan | 2013 | 2014 | 2015 | 2016 | 2017 |
Krones | 2014 |
Kubota | 2015 | 2016 | 2017 |
Liberty Global AGM | 2013 | 2014 | 2015 |
Liberty Global EGM | 2014 | 2015 |
LKQ Corporation | 2015 | 2016 | 2017 |
MDXHealth AGM | 2015 | 2016 | 2017 |
MDXHealth EGM | 2016 |
Medtronic AGM | 2013 | 2014 | 
Medtronic EGM | 2015 |
Meyer Burger Technology | 2016 |
National Bank of Canada | 2013 |
Natura Cosmeticos AGM | 2013 |
Natura Cosmeticos EGM | 2013 |
Naturex | 2013 | 2014 |
Nike | 2013 | 2014 | 2015 | 2016 | 2017
Nobel Biocare | 2013 |
Nordex | 2017 |
Novo Nordisk | 2013 | 2014 | 2015 | 2016 | 2017 |
NXStage Medical | 2013 | 20162017 |
l'Occitane | 2013 |
Ocean Power Technologies | 2013 |
Opower | 2015 | 2016 |
Optos AGM | 2014 | 2015 |
Optos Court Meeting | 2015 |
Optos EGM | 2015 |
Paypal Holdings | 2016 | 2017 |
Pentair AGM | 2013 | 2014 | 2015 |
Pentair EGM | 2014 |
PerkinElmer | 2014 | 2015 | 2016 | 2017 |
Philips | 2014 |
Polypore International | 2013 | 2014 |
Power Integrations | 2013 | 2016 | 2017 |
PPR | 2013 |
Priceline.com | 2013 | 2014 | 2015 | 2016 |
Publicis | 2014 |

Companies Q-Z

REC Silicon | 2015 |
Red Hat | 2013 | 2014 | 2015 | 2016 |
Reed Elsevier AGM | 2013 | 2014 | 2015 |
Reed Elsevier EGM | 2014 |
RELX AGM| 2016 | 2017
RELX EGM| 2017
Resmed | 2015 | 2016 |
Roche | 2014 |
SAP | 2017 |
Shanks | 2013 | 2014 |
Seagate Technology | 2015 |
SEGRO | 2016 | 2017 |
Shimano | 2013 | 2014 | 2016 | 2017 |
Silver Spring Networks | 2017 |
Simon Property | 2013 | 2014 |
Sims Metal Management | 2013 | 2014 | 
SMA Solar Technology | 2013 | 2014 | 2016 | 2017 |
Smith & Nephew | 2013 | 2014 | 2015 | 2016 | 2017 |
Solarcity AGM | 2014 | 2015 | 2016 |
Solarcity EGM | 2016 |
Solaredge Technologies | 2016 | 2017 |
Sound Global AGM | 2014 | 2016 | 
Sound Global EGM | 2015 |
Sonova | 2013 | 2014 | 
Starbucks | 2013 | 2014 | 2015 | 2016 | 2017 | 
Stericycle GM | 2013 | 2014 | 2015 | 2016 | 2017 | 
Straumann | 2013 | 2014 | 2015 | 2016 | 2017 |
Sunedison | 2014 | 2015 |
Sunopta | 2013 | 2014 | 2015 | 2016 |
Sunpower Corp | 2013 | 2014 | 2015 | 2016 |
Svenska Handelsbanken | 2013 | 2014 | 2015 | 2016 |
Swisscom | 2013 | 2014 | 2015 | 
Symantec | 2013 |  
Symrise | 2017 |
Taiwan Semiconductor | 2013 | 2014 | 2015 | 2016 |
Telecity | 2016 |
Teledoc | 2017 | 
Telefonica | 2013 |  
Tenneco | 2015 | 2016 | 2017 |  
Terumo | 2016 |
Tesla Motors AGM | 2013 | 2014 | 2015 | 2016 |
Tesla Motors EGM | 2016 |
Time Warner | 2015 | 2016 | 2017 | 
Tomra | 2013 | 
Tox Free Solutions | 2013 | 
Toyota Motor | 2014 | 2015 | 2016 |
Trina Solar | 2014 | 2015 |
Unibail Rodamco | 2013 | 2014 | 2015 | 2016 |
United Utilities | 2013 | 2014 |
Universal Display | 2014 | 2015 | 2016 |  
Varian Medical Systems | 2013 | 2014 | 2015 | 2016 | 2017 |  
Veeco Instruments | 2013 | 2014 |  
Verizon Communications | 2017 |
Vestas Wind Systems | 2014 | 2015 | 2016 | 2017 |
VF Corp | 2013 | 2014 | 2015 | 2016 | 2017 |     
Vivint Solar | 2015 |
Vodafone Court Meeting | 2014 |
Vodafone AGM | 2013 | 2014 | 2015 | 2016 |
Vodafone EGM | 2014 |
Volkswagen AGM | 2014 |
Volkswagen EGM | 2014 |
Walt Disney | 2013 | 2014 | 2015 | 2016 | 2017 |
Waste Management | 2013 | 2015 | 2016 | 2017 |
Waters Corporation | 2013 | 2014 |
Waterfurnace Renewable Energy | 2013 | 2014 |
Wellpoint AGM | 2013 | 2014 |
Wellpoint EGM | 2014 |
Wessanen | 2015 | 2016 | 2017 |
Whole Food Market | 2013 | 2014 |
William Demant | 2013 |
Whitbread | 2014 | 2015 | 2016 |
Whitewave Foods | 2015 | 2016 |
Whole Foods Market | 2015 |
WPP | 2013 | 2014 | 2015 | 2016 |
Xylem | 2014 | 2015 | 2016 | 2017 |
YARA | 2013 |
Zimmer Biomet Holdings | 2013 | 2014 | 2017 |

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