First public/private financing in water sector
Rabobank starts trade in emissions
30th anniversary of Rabobank Foundation
Projects fund
Corporate social responsibility is
becoming increasingly important
Corporate social responsibility 63
review, Rabo Green Bank provided more than EUR 400 million in new
green loans.Consequently,growth in 2003 was the same as in 2002,
mainly as a result of the financing of Green Label Greenhouses and
wind energy. At year-end, green loans outstanding amounted to more
than EUR 1.4 billion.
In 2003, Delfluent and water control board Hoogheemraadschap Delfland
extended the first public/private loan to the water sector. Delfluent
designs, constructs, manages and finances the Harnaschpolder sewage
treatment plant. Rabobank Group has a participating interest in Delfluent.
In its role as leading arranger and underwriter of this EUR 400 million
transaction, Rabobank Group has profiled itself as a public/private lender
in the Netherlands.
Early in 2003, Rabobank Nederland signed a contract with the Dutch
government to facilitate, as a lender, the purchase of 10 million tonnes
of certified greenhouse gas emission reductions from sustainable energy
and energy efficiency projects in developing countries.The Dutch
government uses the emission reductions in order to meet its obligations
under the Kyoto Protocol. Also in this context, the electronic trading
platform New Values started trade in NOx rights at the end of 2003. New
Values is a joint venture of Rabobank and high-voltage grid manager
Tennet and focuses on the trade in NOx, CO2 and green certificates.
By participating in New Values, Rabobank helps industry to meet its
emission obligations in a cost-effective way.
At the end of 2003, the Rabobank Foundation celebrated its 30th anni
versary. Up to 25% of its funds is spent on projects in the Netherlands
and at least 75% on foreign projects.
In the Netherlands, the Rabobank Foundation is involved each year in
around fifty projects aimed at the more vulnerable groups in society.
Abroad, the Foundation establishes savings and loan co-operatives in
close co-operation with the local communities.This co-operative
approach to microfinancing has a clear link to Rabobank's core activities.
Rabobank Nederland's Projects fund supports projects carried out in the
interest of large groups of members in the Netherlands but that cannot
(yet) be realised when tested against return requirements.The activities
must promote economic, innovative and social development and must
complement Rabobank's image. In 2003, the fund supported 58 initiatives.
ducing a programme to reduce paper consumption.
Sustainability is playing an increasingly prominent
role in business, in terms of image, reputation, risk
management, innovation and cost control. And more
and more evidence is emerging which shows that
companies performing well in terms of sustainability
also return a better financial performance. More focus
on, for instance, proper management, transparency
and social involvement motivates employees and is
valued by clients. And that is automatically good for
business. Of course, this must go hand in hand with a
service-oriented and commercial attitude of staff.'
Pierre Sweerts, head of sustainability developments at Rabobank Nederland.
