Contents Foreword Management report Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3
KPI: We support social initiatives in the communities in which
we operate with manpower, knowledge, networks and facilities,
and we invest the equivalent of 3% of our annual profit in social
initiatives on a not-for-profit basis.
Results
2020
In of profit
2016
2015
2014 target
Community not-for-profit investments1
3.6
2.8
3.5 3
1 The KPI and target include donations by Rabobank Foundation,
which is a separate entity outside the Rabobank Group organisation.
Community funds and donations
In millions of euros
2016
2015
2014
2013
2012
Cooperative dividend (from 97% of the local Rabobanks)
49.0
38.1
36.8
44.5
44.2
Donation from Rabobank and other Group divisions
6.5
6.9
8.0
8.0
4.6
Rabobank Foundation (in the Netherlands and abroad)
16.9
13.1
15.7
12.9
15.2
Other
0.4
0.5
0.5
0.5
0.4
Total community funds and donations
72.8
58.6
61.0
65.8
64.4
The 2016 contribution to community initiatives as a percentage
of net profit equals 3.6%; this exceeds the KPI target of 3% and
represents a significant increase from levels in 2015, when the
target had not been met yet. This is primarily due to an increase
in cooperative dividend spending by local Rabobanks. In 2016,
97% of local Rabobanks contributed funds to Rabobank
Foundation. Besides giving financial support, Rabobank also
supports social projects through a contribution of employee
hours.
KPI: By 2020, we will be supporting 1,000 cooperatives and other
member organisations in achieving business success, including
500 in the Netherlands and 500 in developing countries.
Rabobank Foundation supported 278 initiatives in 2016.
As some initiatives consist of multiple independent projects, the
total number of individually supported initiatives is expected to
be higher. In 2017, Rabobank Development will begin reporting
on farmers' organisations in developing countries.
In 2016, local Rabobanks reported 103 collective local
community initiatives, with both a social and an economic
purpose. These initiatives consist of local renewable energy
cooperatives, local civil healthcare collaborations and fibreoptic
internet projects, as well as others. We share our knowledge
and networks with these initiatives as well as financial support.
If we continue to support around 100 initiatives annually, the
cumulative target of 500 in 2020 is realistic.
We used a more stringent method of measuring and reporting
these initiatives in 2016 in order to focus on those which truly
result from civil participation. We re-evaluated the portfolio
to this end, so are not reporting the 2015 figures as they do
not compare. This method will be used for future reference
and going forward, will be embedded in the data collection
processes of local Rabobanks. A side effect of the more
stringent reporting method is the fact that it underrepresents
the broad number of social initiatives supported by the banks
mentioned. This presents us with a dilemma, as we want to
report the correct figure, but it does not sufficiently reflect the
valuable support of activities performed locally. A possible
solution is the Rabo Versterkt platform, which does mention
these initiatives which fit so well within our Banking for
the Netherlands strategy.
Rabo Versterkt
One of the challenges we identified in 2015 was how to make
our social contributions more known. The 'Rabo Versterkt'
(Rabo Reinforces) initiative uses a digital and interactive map
of the Netherlands to show which initiatives are supported by
local Rabobanks. This makes it possible and easy to see where
those projects are located and what they entail. Rabo Versterkt
is about more than just sponsorships: it also encompasses
donations and connections the bank makes in order to
contribute to economic and community vitality. The local
New collective local community initiatives as declared by local
Rabobanks (cumulative)
2016
2015
2014
2020
target
Total 103
n/a
n/a
500
New collective local community initiatives (cumulative)
Numbers supported by Rabobank abroad 2016
2015
2014
2020
target
Number of initiatives supported by
Rabobank Foundation 278
230
n/a
Total 278
230
n/a
500
88 Rabobank Annual Report 2016