Responsible use of agri-commodity derivatives
In the year under review, Rabobank was in dialogue with public interest organisations about
the following issues.
Discussion partner
Topic of discussion
Result
Amnesty International
Shell, Barrick Gold, Vedanta
Discussed engagement policy and results.
Centre for Research on Multinational
Wage costs and scale of banks
Explained views and response to research report.
Corporations (SOMO)
(via Dutch Banking Association)
Worldwide Fund for Nature (WWF)
Virunga ParkTotal
Explained engagement policy.
Worldwide Fund for Nature (WWF)
Initiative for sustainable eel farming
Exchanged ideas about eel farming. At customers' request,
(Dupan)
Rabobank asked WWF to enter into a dialogue with Dupan in order
to forge a partnership. WWF did not follow up on this request.
WWF, Banktrack, Greenpeace
Funding of coal-fired power plants
Explained views: all of Rabobank's energy loans have been put
towards renewable energy over the past three years.
TNI, FIAN
Land grabbing
Explained policy, views and practices relating to agriculture and
refuted incorrect sources. TNI and FIAN withdrew their publication
and are investigating the matter further.
Dutch national government
Abuses in soybean cultivation, land
Rabobank indicated that it had no presence or interests in the areas
grabbing, infringement of rights of
mentioned by the Members of Parliament. The bank applies a policy
indigenous peoples of Brazil
that is stricter than the law to avoid becoming involved in such
abuses.
Oxfam Novib
Land grabbing
Explained policy and approach to engagement. Answered questions
about involvement in specific abuses. Internal investigation into
issue and preparing stricter policies.
UN Global Compact, UN FAO
Sustainable agriculture
Explained views and provided input into development of Global
Compact principles for sustainable agriculture.
Business Human Rights Resource
Investments in agri-commodity
Explained views. Commissioned internal taskforce to conduct a
Centre, SOMO
derivatives/food speculation
study. Formulated position paper.
Friends of the Earth Groningen
Complaint about member offer
(briquette press)
Withdrew member offer.
Society for the Protection of Animals
Finance for equipment for poultry farm
Explained views: finance was for latest technology that promotes
and slaughterhouse in Ukraine
animal welfare and contains health risks better than usual in the
sector.
Fair Bank Guide (Oxfam Novib, IKV
Renewable electricity, ship scrapping,
Conducted meetings on these issues. Ship scrapping policy
Pax Christi, Society for the Protection
sustainability policy, sustainable
will be changed. Rabobank is the largest financier of renewable
of Animals, FNV Mondiaal, Amnesty
investment
energy production.
International)
Greenpeace
Energy and climate policy
Explained policy and activities designed to reduce energy
consumption and increase use of renewable energy.
Greenpeace
Response to draft report on involvement
Explained policy and practices. Rabobank has strict policies and
of banks in illegal deforestation in Brazil
proved not to be involved. Report withdrawn.
IKV Pax Christi
Cluster munitions
Explained policy and policy developments.
Friends of the Earth Netherlands
Biofuels
Explained policy and views.
Tropenbos International
Research into the protection of tropical
forests
Shared views and knowledge.
Contributing to worldwide food security is one of the core themes of Rabobank's sustainability
policy. Where creating more sustainable supply chains in the food and agribusiness is
concerned, Rabobank is actively involved in various round tables, which are multi-stakeholder
initiatives for different commodities such as palm oil (RSPO), soy (RTRS), cotton (BCI) and beef
(GRSB, GTPS). Rabobank also teams up with intergovernmental organisations, the corporate
sector and public interest groups, for instance in the United Nations Global Compact for
sustainable agriculture. In addition, Rabobank works in partnership with organisations such
as The Sustainable Trade Initiative (IDH), Solidaridad and the Worldwide Fund for Nature.
Following the public debate about commodity derivatives, Rabobank decided to update in
2012 its vision of the effects of financial speculation in commodity derivatives. Rabobank
does not speculate in agri-commodities for its own account and risk and can use derivative
23 Sound sustainability policy
