Contents Management report Corporate governance Consolidated financial statements Financial statements Pillar 3
Sustainable housing
Sustainability of owner-occupied homes makes a significant
contribution to energy saving, both for society and for
individual homeowners. It lowers the energy bills and affects
the value of the home. As a major mortgage lender, we have
many homes as collateral. We therefore encourage people to
invest in the preservation of their property. This leads to lower
energy costs and lower C02 emissions. The C02-emissions of the
average home with a definite energy label in the Netherlands
(around 35% of the homes) is 3,051 kg. For homes in our loan
portfolio with a definitive energy label (around 10% of our loan
portfolio) this is 2,638 kg on average.
In 2015, we organised 20 'Smart Renovation' information
meetings. During these meetings, the question of making
housing sustainable is combined with the offers from our
business customers (see link). Approximately 3,200 retail
customers have visited such an event, where 315 entrepreneurs
were able to offer their products and services. In 2016, the
objective is to organise a 'Smart Renovation'event at 50% of the
local Rabobanks.
To further stimulate investment into energy-saving measures,
in 2015 we worked to establish a special financial product
to be marketed at the beginning in 2016 for the purchase of
energy-efficient homes. Rabobank also actively contributes
to 'Stroomversnelling Koopwoningen', by addressing
the acceleration of the concept of Zero on the Meter
property (NOM). We participate in financing the task force, the
property value steering committee and have set up five pilot
projects to finance the first NOM renovations.
Socially responsible investments
Socially responsible investments are becoming increasingly
important worldwide. Here we look at how companies and
countries are performing in terms of people, the environment
and good (corporate) governance, and we pay attention to the
investment process. Rabobank wants to facilitate sustainability
on the capital market and play a catalytic role by providing
information to customers, by entering into dialogue with asset
managers with which it cooperates and making conscious
choices for the range of investments. Our approach (Retail
and Private Banking) is based on three pillars: 1) respect
for internationally recognised standards in terms of the
environment, people and good governance, 2) the integration
of these standards into the investment process, and 3) avoiding
investments in controversial weapons. Rabobank also monitors
whether the fund houses it works with meet the above criteria
and enters into dialogue with them if that is not the case.
Rabobank expects fund managers to support the Principles
for Responsible Investment (PRI). With that they declare that
they will take the ESG (Environmental, Social and Governance)
into account in their investment process.They also commit
to speak to the companies in which they invest about these
issues, for example if they are lagging far behind in one of the
areas mentioned.To this end, Rabobank asks fund houses to use
the United Nations Global Compact principles as a reference
framework. These are ten principles for companies when
it comes to human rights, the environment, labour rights
and corruption.
In 2015, assets in sustainable investment funds amounted
to EUR 1,915 million and assets under engagement (i.e.
funds that meet our socially responsible investment criteria):
EUR 17,638 million.
Furthermore, Rabobank actively responds to topical issues and
customer needs.Thus, customers who wantto invest in a more
climate-friendly manner can include their preference more and
more clearly in their investment choice. This way, Rabobank
wants to give a concrete response to the concerns about
climate change and the risks involved for investors.
Cooperation with Sustainalytics
Rabobank works with Sustainalytics, a provider of credit
ratings in the area of sustainability, to review the portfolios
of institutions and charities (who appreciate this) in terms of
C02 intensity. A number of these customers were offered such
a portfolio analysis during the climate summit. So that they can
focus on C02, if they wish to do so. There are several reasons
for this. For example, because it fits into their investment
philosophy, or because they think that the biggest pollutors will
eventually be less profitable.
Rabobank has also had its own list of shares assessed.. It shows
that the pool of shares which make up our investment
specialist portfolios is already 47% less C02-intensive (per
converted dollar) than the worldwide reference benchmark
(MSCI Developed Markets Index).The score is partly due to the
fact that Rabobank has already taken account of sustainability
criteria in the composition of the selection list in the past.
The aim is to make this pool at least 50% less C02-intensive than
the benchmark next year. Via a special indicator, with the help
of an advisor, customers can invest in individual shares that
perform well in the area of C02 emissions.
67 Corporate social responsibility report
