Key CSR results in 2008
We achieved a lot in 2008 in the way of further embedding CSR into our core business processes.
Bolstering chain sustainability via Food Agribusiness Principles
In 2008 we took the initiative to define Food Agribusiness Principles, which illustrate how Rabobank
Group goes about its business in the international food agri market.The Principles address such issues
as adequate and safe food production, sustainable use of natural resources, a responsible society where
public welfare is key, ethical treatment of animals, and awareness among consumers and citizens.
The principles are a natural progression from Rabobank's deep commitment to clients operating in
agriculture, horticulture and cattle-farming. In 2008 we found ourselves faced with a global need for
stepping up all sustainability efforts in food agri chains because commodity prices soared due to
growth in consumer spending and demand for biofuels.
Increasing sustainability of production chains through responsible lending
Rabobank has defined policies for several CSR-sensitive sectors, which help us take a socially responsible
approach to the potential impact of our funding. These sector policies will be discussed in internal
sessions, after which we will hold an external consultation round with different stakeholders, such as
clients, NGOs and academics.
Stakeholder dialogue for sustainable production
In 2008 Rabobank actively participated in sector-wide international roundtables, including the Round
Table on Responsible Soy, the Round Table on Sustainable Palm Oil, the Better Cotton Initiative, the
Better Sugar Initiative and the Round Table on Sustainable Biofuels. On both Rabobank's and the
stakeholders' initiative, talks involving a range of CSR issues were also held with key players. Ideas on the
new palm oil policy were exchanged, for instance, with academics from all over the world, Friends of the
Earth, Oxfam Novib and the Worldwide Fund for Nature.
Ethics Committee
The Ethics Committee celebrated its tenth anniversary in 2008. This advisory body, which is led by the
Chairman of the Executive Board, offers its opinion on moral dilemmas to all echelons of Rabobank Group.
Over the past decade, the Committee has applied ethical criteria to more than 150 business cases. In 2008
the Committee ruled on 14 real-life situations. Discussions focused on whether or not we should fund a
provider of short-term loans and a private forestry company that offers investments in robinia plantations.
In addition, we discussed the welfare of sheep on long-distance transports to halal slaughterhouses.
Engagement in asset management and investment
Rabobank Group wants to make businesses more sustainable by seeking dialogue and discussing CSR
proposals in shareholders'meetings or backing such proposals. Robeco represents several parties via
the Robeco Engagement Service, for instance, which allows it to truly exercise influence. Robeco voted
at 1,792 shareholders'meetings and talked with 86 enterprises about their sustainability and corporate
governance policies in 2008. Rabobank Private Banking is working on improving the transparency of
CSR information on investment products in asset management.
Renewable energy
Rabobank developed a plethora of initiatives in the field of renewable energy in 2008, one of which
was the investment by Rabo Ventures in Econcern, a European renewable energy group. Another was
the co-financing of the Princess Amalia Wind Farm in the North Sea. Rabobank Nederland is closely
involved in initiatives for applying geothermal heat in greenhouse horticulture, and Rabobank Westland
contributed EUR 10 million to various renewable energy projects. Rabo Groen Bank and Rabobank
Oost-Achterhoek provided financial backing to Haagwinden, the largest onshore wind farm in the
Netherlands. Rabo Groen Bank saw its lending portfolio grow to more than EUR 3.4 billion in 2008,
most of which was attributable to renewable energy. Athlon Car Lease introduced sustainable mobility
programmes and strengthened its ties with Netherlands Railways in terms of the Railways Business Card.
Sarasin, Robeco and Rabobank International published several studies on renewable energy and
climate impact. In addition, Rabobank wrote a report on water shortages and investments in efficient
water usage in agriculture, which was presented at the annual Duisenberg lecture during meetings of
the International Monetary Fund and the World Bank.
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Report of the Executive Board