Ethical business practices
market. In order to make lending more sustainable, green finance will be integrated further
into the standard lending process. FGH Bank will also adjust the valuation process accordingly.
Bouwfonds REIM reviewed a representative portion of its office and residential portfolios in
2010 and set standards for the level of sustainability of existing and newly to be purchased
real estate. Bouwfonds REIM has opted to improve the existing stock of properties and make
them more sustainable in the process.
Some sustainable property developments
Bouwfonds Property Development completed the first apartments of the Lyon Islands
redevelopment in France. This development has been integrated fully into the unique
landscape and meets the highest sustainability requirements (HQE®). In Germany, initiatives
were taken to improve the living environment and increase the community spirit in urban
areas (Adams-Lehmannstrasse, Munich), for which Bouwfonds Immobilienentwicklung won
the Deutscher Bauherrenpreis 2010, a German customer satisfaction award.
MAB Development and OVG Projectontwikkeling developed De Rotterdam, a multi-functional
building. De Rotterdam CV and Eneco signed a contract in the year under review for the supply
of a full-scope renewable energy solution. In France, MAB Development is working with
Neinver to build the Honfleur outlet centre in Normandy. This development was awarded the
'NF BatimentsTertiaires - Démarche HQE' sustainability certificate. Honfleur received the
Magdus Award 2010 for Best Building Development in Europe.
Bouwfonds REIM reviewed part of its portfolio, gauging the need for sustainable investments.
This has been discussed with the lessees in question, as well as with the fund investors.
Rabo Real Estate Group has its own employee code of conduct for integrity and ethics.
This code is aligned to Rabobank Group's code of conduct as much as possible and incorporates
a whistleblower regulation. Copying our Dutch branches, the locations abroad also placed
strong emphasis on the implementation of this code in 2010. Further embedding in the
local organisations will take place in 2011The Dutch organisation was again subjected to
an integrity review in 2010.The review showed that the integrity and compliance climate
has improved on 2009. In addition, the international divisions also paid attention to the
harmonised new customer due diligence policy for accepting, identifying, verifying, monitoring
and reviewing clients and transactions. Customer due diligence is here to stay as a key aspect
of the service provision.
Responsible business practices
Rabo Real Estate Group has agreed with the trade unions to introduce some new terms of
employment in the Collective Bargaining Agreement (CBA) 2010-2011 that will advance staff
employability in the long term. Owing in part to the public debate about bonuses, the Banking
Code, the requirements of the Dutch Central Bank (DNB) and the Netherlands Authority for
the Financial Markets (AFM), Rabo Real Estate Group started to re-evaluate its pay policies in
the year under review.
Community involvement
In 2010, Rabo Real Estate Group signed another contract to stay on as the main sponsor of
Open Monumentendag (Heritage Day), one of the largest cultural events in the Netherlands,
for the next three years. In 2010, about 900,000 people visited the three to four thousand
historical buildings and sites that were open to the public.
Bouwfonds Property Development signed a covenant to support The Borneo Initiative in
the reporting period. This initiative endorses the responsible management of forests in
Indonesia by promoting and supporting the use of FSC-certified timber.
Rabo Real Estate Group also expresses its commitment to society through the activities of
Fondsenbeheer Nederland. This organisation facilitates the growth of funds in the areas of listed
buildings (Nationaal Restauratiefonds), public housing (Stimuleringsfonds Volkshuisvesting
Nederland-SVn), nature and landscape conservation (Nationaal Groenfonds), industrial
heritage (BOEi), agricultural heritage (Boerderij en Landschap) and climate landscape
54
Annual Report 2010 Rabobank Group
