How do we deal with the differences in
standards and values in the Netherlands
and elsewhere?
Dilemma
We apply the same principles and values to all our
customers worldwide and are aware that the situation
varies in each country on account of differing points of view
in different parts of the world.
Wherever we conduct business in the world, and how, is
determined by our four core values: respect, integrity,
professionalism and sustainability. In addition, we have also
drafted a number of specific Food Agribusiness Principles.
Needless to say, we are bound by international rules and
regulations, and finally, we have drafted a series of guidelines to
support our employees in the practical application of our
principles. We feel it is important to comply with these
principles, both for ourselves and for society.
If a company abides by a set of principles, others are entitled to
hold them to those principles - which is exactly what our
stakeholders do.They keep a close watch on us and call us to
account for our actions if necessary. We find that this approach
has always worked for well for Rabobank.
And yet our principles do not provide answers to all social
issues; on an international level, the social context can vary
widely from the Dutch situation, while we also wield more
influence in some countries than others. Additionally, the fact
that standards of what is common and acceptable also vary by
country can potentially create complex dilemmas in the
international cattle farming and agricultural supply chains, as is
the case, for example, with palm oil.
We encounter a number of these dilemmas in fulfilling our
mission of contributing to the food supply of the growing
global population. The question is how our customers can
produce this food in a responsible manner. While factory
farming increases the production output of meat, how can this
be reconciled in various countries with responsible animal
husbandry and care? And although organic farming may be less
damaging to the environment than its traditional counterpart,
production per hectare is significantly lower, which means that
demand for arable land will increase, while output remains the
same.
Do we support these developments even if the new territory
encroaches on nature reserves and other protected areas? And
to what extent does the answer to this question depend on the
country or region in which the farmer is based?
Our experience in the food and agri sector has allowed us to
discover many best practices, both in the Netherlands and
elsewhere. We share our knowledge in order to assist and
support businesses.
We work with the customer to see how their farm can operate
using responsible and sustainable practices in the coming years,
taking into account the expectations customers and society
have of the business.
The most complex issues we encounter are nearly always
related to an ethical dilemma of some sort. We refer these cases
to a special committee, chaired by our Chairman of the
Executive Board.
Our sustainability goals set out that we are transparent about
the percentage of loans which temporarily do not comply with
the bank's sustainability policy. We explain in our annual report
why this is the case and what measures we take to counter this,
along with any change in the percentage.
Read about our Food Agri Principles here.
Read about our ethical issues here.
Read here about our core values, ethics statement and code of
conduct.
28 Annual Report 2014 Rabobank Group