Rabobank's social responsibility
Unique approach
Self-respect
Over three decades, the Foundation has
quietly gone about its business with little
media attention. However, in the last 10
years the rise ofCSR has brought increas-
ing recognition. The Foundation is unique
in the Netherlands,' explains Ineke
Derkzen, the Foundation's Manager of
Funds. 'It was established long before the
words CSR existed, we are an entirely
non-profit organization and we tailor our
support to ensure that it has the utmost
positive impact for its beneficiaries.' This
conscientious approach is reflected in
the fact that most of the loans are offered
in local currency. This is an important
distinction as other microfinance organi-
zations generally offer loans in Euros or
US dollars only, leaving the borrower with
the foreign currency risk. In contexts such
as Argentina and Southeast Asia, that is a
risk many borrowers cannot afford to take.
In addition, the repayments remain in
the country and are recycled for other
projects. The Rabobank Foundation
doesn't only offer loans. Financial assis-
tance can also be given in the form of
donations, and very often technical
advice is needed. In the latter case the
Foundation looks to the expertise within
the Rabobank Group. Derkzen observes,
'Most of the groups abroad applying for
assistance have already registered as
savings and credit organizations or
co-operatives before seeking further
assistance from the Foundation.'
The impact of Rabobank Foundation is
enormous. 'Sustainability, self-respect, and
recognition as a valued individual. That is
what we try to give the people we help.
Society has a history of not treating mentally challenged people with
respect. Through the Foundation, we have found that facilitating a
situation where their skills are valued, where they can do all sorts of
work, means they are able to truly contribute. It's the same in developing
countries; people who have never had any chance can now access
credit through which they can work and support their families. That
means something: to their families, to their self-esteem, and to the
community as a whole.'
Rabobank is an international leader in the field of Corporate Social Responsibility (CSR).
It has been named the most socially responsible bank in Europe and the second most
socially responsible bank in the world by the Sustainable Asset Management Group.
CSR is not only part of the Rabobank Group's corporate code of conduct, it is part of
daily activities, from how much paper local member banks use to providing green
investment options to investors. Other socially responsible organizations established
by Rabobank include:
Internal Environmental Care for sustainable purchasing and sustainable housing.
Sustainable Asset Management (Robeco Sustainable Equity Fund, Rabo Green Bond,
Robeco CDO Green Bond and Robeco Sustainable Private Equity Fund).
Innovation Capital Fund, a fund-of-funds for venture capital investments in funds that
participate in sustainable development projects.
Rabobank Development Program, which includes Rabo International Advisory
Services (RIAS).
Rabo Groen (Green) Bank offers companies environmentally-friendly investments at
competitive rates. The markets for these investments include organic agriculture,
wind energy and green-label greenhouses.
Money Meets Ideas, an initiative that brings new entrepreneurs seeking venture
capital into contact with potential investors.
Herman Wijffels Fund, fund for stimulation of sustainable innovation by young
entrepreneurs.
New Values, an electronic trading portal for environmental commodity trading
(www.newvalues.net).
Environmental Financial Products department (EFP), based in London, assists clients
in managing their compliance risks and helps them to effectively deploy their capital
in environmental asset markets.
Carbon Procurement Department based in Utrecht, for the sale and purchase of
project-related emission reductions from projects in developing countries in Asia,
Latin America and Africa.
24 The Word
