Meaningful Cooperative
Being a meaningful cooperative is the essence of what Rabobank stands for. We are committed to
making a difference as a cooperative, customer-driven bank, in the Netherlands and around the world,
by taking a stand on social issues that matter to our clients, such as food, self-reliance,
entrepreneurship and the local living environment.
About this
Report
Chairman's
Foreword
Corporate
Management Report Appendices Governance
Consolidated Financial Company Financial
Statements Statements
Involved Members and Communities
We asked our members which ways they might want to engage
with us or give substance to their membership. In this survey, in
which more than 13,000 of our members participated, 44% said
that they feel involved with Rabobank. The results of this survey
will help us to improve our vision on membership and to initiate
activities that make the benefits of membership more tangible.
Making a Concrete Socially Responsible Contribution
We believe that a bank should do more than just provide
financial services. We invest in local communities with our
cooperative dividend, knowledge and networks, and employees
volunteer work. All local Rabobanks in the Netherlands have
drawn up their own 'Plan for Society' with the aim of making
their local contribution to our mission 'Growing a better world
together' more specific and concrete. In 2018 Rabobank allocated
EUR 48.8 million for future investments in the local community.
The initiatives vary from investing in making local associations
more sustainable with LED lighting, to projects in primary schools
('Bank voor de klas') and 'Perspectief Groningen 2025'. In the
latter, four local Rabobanks in the Groningen region are
partnering with public-private initiatives to add financial and
management support to activities that strengthen the regional
economy and society in the long term. After California was
plagued by forest fires, Rabobank N.A. (RNA) donated USD 50,000
to the Red Cross to help the community. RNA also set up a
"GoFundMe" account for employees who lost property in the
fires. Worldwide Rabobank employees also made donations.
Local Rabobanks also invest part of their net profit in the
Rabobank Foundation. This independent foundation's financials
are not included in our consolidated figures. Its mission is to
invest in people's self-reliance. In the Netherlands, the Rabobank
Foundation works with local Rabobanks, to focus on social
entrepreneurship, employability and financial self-reliance.
Internationally it supports small-scale farmers and their
cooperatives.
Rabobank has a long-standing relationship with many Dutch
sports teams and cultural organizations. These associations play
a vital role in people's lives and living environments, improve
social cohesion and support the discovery of new talent.
Rabobank helps these organizations with knowledge, networks
and financing. We are one of the largest sponsors of Dutch
(sporting) events and we run programs that help organizations
become more self-sufficient. We discuss their ambitions and
assist in achieving them. We also collaborate with key sports
stakeholders like NOC*NSF/TeamNL and the Royal Dutch Hockey
Federation (KNHB).
Art is a barometer of society, offering a view of the world and of
the times we live in. We firmly believe in the transformative
powerofart and in its importance to society. About 100 art works
from our collection are on temporary loan to museums in the
Netherlands and abroad. Our Rabo Art-Lab invites artists to
become 'artists in residence', giving them the freedom to move
and work without restrictions inside our organization during an
official residency. In 2018 Arne Hendriks was our artist in
residence. He examined the concepts of growth and shrinkage.
What is growth? Would 'degrowth' be a desirable concept? An
exhibition of Arne's work is on display at Rabobank, and he will
speak about these concepts with opinion leaders within and
outside the bank.
Sustainability
Sustainability is a key aspect of being a meaningful cooperative.
We were pleased to receive a score of 89 from Sustainalytics for
our Environment, Social, and Governance (ESG) performance,
which earned Rabobankthetitle of'Leader' in thefinancial sector
in 2018. RobecoSAM's sustainability index awarded Rabobank 79
points on a scale of 100, ranking us 25 out of 140 banks. In 2018
RobecoSAM updated its scoring methodology which impacted
our score and ranking substantially. The most recent edition of the
Sustainable Brand Indexforthe Netherlands ranked Rabobankas
leader among the three Dutch systemically important banks, and
third in the financial services industry.
Annual Report 2018 - Management Report
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