Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
We introduced a EUR 100 million Rabo Impact Loan for healthcare
and elementary schools, two sectors which are of great
importance to the cohesion of Dutch communities, in cooperation
with the Council of Europe Development Bank. The total
outstanding volume of Rabo Impact Loans was EUR 193 million
at the end of 2017, up from EUR 80.6 million at the end of 2016.
Brazilian Green Loan for Food Agri
As an Food Agri bank, our sustainability efforts for clients
are geared towards this sector. Rabobank Brazil, for instance,
launched a Green Loan for Food Agri clients who want to
invest in renewable energy. The first loan of this type was
granted to an entrepreneur who grows beans, soy and corn and
who wanted to invest in solar power.
Green Bonds and Green Revolving Credit Facilities
The support for sustainable frontrunners evolved progressively
in the debt capital markets, as we have been more involved
in issuing green, social and sustainability bonds for large
corporations, public institutions and financial institutions in
2017. Rabobank is a partner of the Executive Committee of
the Green Bond Principles, and is one of the drafting parties
of the Climate Bond Initiative's standard for Land Use Criteria
(previously Agriculture,Forestry and other land use).
Our innovative green bond programme was named 'bond of
the year'in the Green Bonds Award 2017. This bond has dual
aims: it gives investors exposure to large-scale renewable
energy projects as well as linking socially responsible fixed-
income investors with sustainable SMEs that lack the scale
to issue green bonds themselves.This approach enables the
financing of areas that have traditionally been inaccessible
to institutional investors. All proceeds of the issued Rabo
Green Bond (2016) were allocated to 12 new wind and solar
power projects in the first year after issuance of the bond.
See appendix 3 for more information and the first annual Green
Bond Report.
In 2017, capital markets saw the birth of Green Revolving Credit
Facilities: syndicated loans where environmental and social
criteria are embedded in the credit arrangements. Rabobank
has been involved in several instances of this new type of
corporate financing.
Rabo Groen Bank (Green Bank)
Private investors can also invest in sustainable business
through Rabobank's green bank, Rabo Groen Bank. Since
private investors with a green savings account benefit from a
tax reduction, Rabo Groen Bank benefits from lower funding
costs as a result. It transfers this benefit in the form of an
interest discount on green loans to companies with sustainable
investments. In total Rabo Groen Bank issued EUR 1,424 million
in green loans.
Clean Technology
At DLL new business volume from Clean Technology grew in
2017 with the portfolio surpassing EUR 383 million.The increase
was attributable mainly to the renewables business in the
US, and the Energy Efficiency business which had significant
growth in the US and expanded in Europe.
Promoting responsible investing on capital markets
Rabobank takes the sustainability performance of companies
and countries on issues like people, the environment and
good governance into account when making investment
decisions. We provide information to clients, enter into dialogue
with the asset managers with whom we cooperate, engage
with companies that underperform based on the UN Global
Compact principles and take conscious choices on our range of
investments.
We ask cooperating fund houses to refer to the United Nations
Global Compact principles and incorporate these ten principles
in their corporate sustainability strategies on human rights, the
environment, labour rights and anti-corruption. Clients who
want to take sustainable investing a step further can use
Rabobank's ample offering of additional screening options and
sustainable investment funds. These funds typically have more
stringent exclusion criteria, a best-in-class approach or thematic
investing. In 2017, Rabobank total sustainable assets under
management and assets in custody - including funding -
amounted to EUR 7,531 million.
Fair Finance Guide
Our performance related to Rabobank's investment policy
is measured by the Fair Finance Guide. See for a couple of
our results the table Fair Finance Guide or appendix 3 for a
complete overview of the results.
Fair Finance Guide
Human rights
Climate change
Labour rights
Remuneration
Corruption
Food
Fisheries
Financial Sector
Transparency and accountability
Gender Equality
5 3
9 9
4 2
7 5
7 6
3 1
6 5
1 In 2017 no research has been conducted by the Fair Finance Guide.
Rabobank Annual Report 2017 - Management report
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