In addition, the draft policy on responsible lending in twelve value chains was submitted to
WWF, Oxfam Novib, Bank Track and Solidaridad in 2009. The twelve policy documents form
Rabobank's response to the potential and actual opportunities for innovation, and threats in
value chains.They also help employees in their client contacts and when assessing transactions.
Decisions on the implementation of the draft policy on value chains will be taken in the first
half of 2010.
Update on statement on arms industry
Rabobank Group's policy statement on the arms industry was expounded upon in 2009.
Business is no longer done with subsidiaries of business conglomerates directly involved in
the production of controversial weapons, even if the subsidiary is not directly involved itself.
We will terminate our relationship with a client that failed to comply with the arms industry
statement in 2009 as soon as the current contract ends. This case has led Rabobank to start to
screen businesses around the world even more carefully. Furthermore, investment clients are
not actively provided with advice on any individual exchange-listed defence companies that
are the subject of controversy.
Investing in the arms industry
In 2009, Oxfam Novib, Amnesty International and IKV Pax Christi published a report on banks
and the arms industry. During discussions, they stated that Rabobank's statement on the arms
industry was highly ambitious. They were also happy that Rabobank did not invest any of its
own funds in controversial weapons. However, they did call for more attention to be paid to
arms trading with dictatorial regimes and in war-torn areas. This matter will be discussed by
the Arms Industry Committee. The civil society organisations felt that Robeco should rule out
all investments in companies that produce nuclear armaments.
In 2009, Oxfam Novib, Amnesty International and IKV Pax Christi expressed their concerns
about potential investments made on behalf of third parties in controversial weapons.
Rabobank set up the Investment and Arms Industry Working Group to look into how this
matter should be dealt with.
Human rights policy
Rabobank has had a human rights policy since 2002. Applying this policy in everyday
banking proves to be a challenge at times. The main principles of the human rights policy
are incorporated into the terms and conditions of investment as contained in the policy on
value chains so that they can be integrated into our lending policy.
Internal dialogue on integrating CSR into core activities
In 2009, the ways in which corporate social responsibility contributes to core activities, and
central themes for CSR can be fleshed out, were discussed within Rabobank Group. It transpired
that CSR activities had to be further integrated into core activities and that clients needed to
be able to see more easily that this had been done.
Dialogue with Dutch Fair Bank Guide
In 2009, Oxfam Novib, Amnesty International, Friends of the Earth Netherlands and FNV
Mondiaal launched the Dutch Fair Bank Guide (Eerlijke Bankwijzer), a website that compares the
performance of 12 Dutch banks in the area of sustainability. Rabobank supported this initiative,
although it did not always agree with the logic of the design of the study and felt that the way
in which information concerning investments in the arms industry was communicated was
rather inept. A constructive dialogue on this matter was conducted. Another activity that led
to a great deal of discussion was the Fair Bank Guide's case study concerning renewable energy.
In the run-up to the Copenhagen Climate Conference in December 2009, Rabobank issued a
joint statement with nine other Dutch banks in which the importance of promoting renewable
energy was emphasised.The banks called on the Dutch government to make it easier to invest
in renewable energy. In addition, Rabobank issued a statement on its own ambitions in the
area of renewable energy.
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Dialogue with stakeholders
