Further CSR implementation
CSR in lending
Innovative financing for
wind farm
Offshore from IJmuiden, a large
wind farm is being constructed
with the capacity to meet the
energy needs of some 125,000
Dutch homes starting in 2008.
The project is being financed
by Rabobank together with
BNP Paribas, Dexia and Eksport
Kredit Fonden and fits
Rabobank's policy of active
participation in the realisation
of sustainable energy projects.
It is the world's first offshore
wind farm under non-recourse
project financing. This means
that, during the construction
phase - the project phase with
the highest risk - the financiers
share the exposure to risks such
as cost overruns and delays.
For earlier wind farms, these
risks were fully borne by the
investors. International
developers have long been
looking forward to non
recourse financing facilities.
important field of policy. Rabobank Group is
aware that, with its services, it has a strong,
guiding influence on economic, social and
ecological processes in a great variety of sectors.
Since the number of CSR activities within
Rabobank grows every year, it is necessary to
focus on the operational areas in which CSR
has the biggest impact. In coming years, the
focus will be on the following two targets:
- Further CSR implementation in Rabobank
Group's core processes, focusing on lending,
leasing and investing.
- Marketing new products and services that
promote clean technologies and sustainable
investments.
Targets for other policy areas have been
formulated as well. Prioritisation is done by
reference to 22 key performance indicators.
Great progress was made in 2006 with the
integration of CSR in the organisation. From
the beginning of 2006, all business units and
subsidiaries as well as most local Rabobanks
have been setting CSR targets, with progress
reported on a regular basis. Of the local
Rabobanks, 86% has incorporated CSR in their
policy cycles and 80% participates in CSR
monitoring. Externally, the effect of CSR on
client assessment in lending is becoming more
and more visible. CSR thinking was given
a recognisable position in the real estate
activities as well and has been embedded in
all project development plans.
In 2006, Rabobank Group started the develop
ment of a CSR implementation manual, which
is an appendix to the Rabobank Group Credit
Manual. The CSR manual helps employees
apply the principles and guidelines Rabobank
has set out for itself in their business services.
The manual allows the various Group units to
apply this to their own situation in a way that
"Rabobank not only gives financial support,
but also shows genuine commitment to addressing
low literacy"
"From the very beginning, it was important to the Reading
Writing Foundation to engage leading businesses such as
Rabobank in addressing low literacy. Not just for their
financial support, but for their genuine commitment.
Rabobank was one of the first businesses to deliver that.
With Rabobank funding, we developed specific communi
cation activities. We financed a television documentary,
developed a special web site for low-literates and we are
supporting an educational television series on illiteracy."
HRH Princess Laurentien of the Netherlands, chair of the
Reading Writing Foundation in an interview in Dichterbij.
94 Rabobank Group Annual Report 2006
