Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
Incorporation in the mortgage consultation
To encourage retail customers to invest in energy saving
measures, we have started our collaboration with GreenHome.
New and existing customers are referred to the GreenHome
platform for a quick scan of the available energy efficiency
measures. They can also get support during the process from
GreenHome and connect with local installers. A national
programme for local Rabobanks has been set up to incorporate
energy saving measures in their mortgage consultations
with customers. This includes the training of all mortgage
consultants, appointing champs as accelerators at each local
Rabobank, joining up local installers and providing local
marketing tools.
In 2017 we again organised Smart Renovation ('Slim Verbouwen')
events to promote energy efficiency in housing. At these events,
our corporate clients can showcase their products and services
and connect with our retail customers with an eye to helping
them make sustainable home improvements. Our commitment
to reducing energy has already brought improved the energy
label ratings of our mortgage portfolio, as shown in the
following figure.
Current energy labels of Rabobank mortgage portfolio of
Domestic Retail Banking.
Energy labels in the mortgage portfolio
of houses funded
of houses funded
of houses
Energy
by Rabobank
relative
by Rabobank
in the
label
(2016)1
discrepancy
(2017)2
Netherlands3
A
D
16%
1 AO/,
+2%
-1 o/.
18%
1 qo/„
11%
1 AO/,
D
c
I ovo
26%
I 0
0%
I D /O
26%
I O vO
31%
D
17%
-1%
16%
21%
E
11%
-1%
10%
11%
F
8%
0%
8%
6%
G
6%
+1%
7%
4%
Total
100%
-1%
100%
100%
Amount mortgage portfolio Total loan amount
Total mortgage portfolio EUR 193.1 billion
'A' energy labels (18.1 of total) EUR 35.0 billion4
Climate mortgages EUR 58.5 million
Sustainable real estate finance
We have adopted a new real estate sustainability policy that
states that new real estate loans and refinancing are obliged
to comply with requirements for minimal energy labels as of
the end of 2017.This will apply to all real estate, starting with
offices, and the targets need to be met in 2022 (minimum
energy label C).
Rabobank's real estate portfolio has been analysed by a
specialised agency to ascertain the current situation of the
labels. The conclusion was that 55% of utility buildings have a
C energy label or higher, or 30% including rental property.
We set a target to make our commercial real estate portfolio
completely sustainable in the next 10 years (energy label A).
The interim target is to reach 100% energy labels C in 2020, well
before the required deadline in 2022. Apart from the energy labels
we strive to include circularity, sustainable entrepreneurship
and insight in how healthy the location of the property is.
To contribute to making buildings more sustainable, Rabobank
in 2017 joined the Dutch Green Building Council. We also
participated for the first time in the Global Real Estate
Sustainability Benchmark for debt and received a four-star rating.
Our subsidiary Bouwfonds Property Development (BPD) the
largest housing developer in the Netherlands has announced
they will develop detached houses with an EPC of 0.26 or better.
This is 33% better than the standard of current construction laws.
Our own efforts
Sustainable procurement
The Sustainability Policy Framework addresses policies, but also
provides an overview of the implementation landscape with
Standards: documents describing how to implement the
policies.The Sustainable Procurement Standard is valid for
Rabobank Group, and requires a supplier's level of sustainability
to be documented during the Requests for Proposal, RFP's
(Procurement Projects). Rabobank business departments
determine their sustainability requirements according to their
department's sustainability goals.The Rabobank Procurement
department participates in the business procurement teams for
projects exceeding EUR 50,000. Procurement supports the
business in checking potential suppliers compliance with
sustainability criteria based upon the IS026000 guideline. In
general, the Standard requires that Rabobank exclude potential
suppliers if they are involved in activities which the bank
1 In 2016 approximately 15% of the mortgage portfolio had
a confirmed energy label.
2 In 2017 approximately 16% of the mortgage portfolio has
a confirmed energy label.
3 Confirmed energy labels: Rijksdienst voor Ondernemend Nederland.
4 In 2017 approximately 16% of the mortgage portfolio has a confirmed
energy label.This is extrapolated overthe total mortgage portfolio.
To come to the total corresponding loan value an assumption is
taken that the loan value per mortgage financed house in all energy
labels is the same.
Rabobank Annual Report 2017 - Management report
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