Rabobank: Moving Beyond Pioneering Phase to Embed CSR Into the Business Operations

Published 04-25-05

Submitted by Rabobank Group

UTRECHT, NETHERLANDS -- Rabobank is going to take a more commercial approach to corporate social responsibility (CSR). "We have now passed the pioneering phase that centred on raising awareness of CSR within our organisation. As Rabobank we are now ready to enter the next phase. The focus at this next level will be on reflecting on our experiences so far and on developing a commercial approach to CSR by formulating and prioritising concrete objectives. The motto is actions speak louder than words." Hans ten Cate, member of the Executive Board, made this statement at the presentation of the Rabobank Group's 2004 Annual Responsibility and Sustainability Report. Rabobank began implementing sustainability as a matter of policy into all its business processes in the mid-1990s. This pioneering phase has been characterised by focussing on projects that directly demonstrate the economic added value of sustainability, such as green financing and sustainable investment. The bank is now entering the next phase that will focus on reflecting on the viability of sustainability and on taking a commercial approach to CSR. Ten Cate: "This assessment will encompass both the commercial approach to sustainable products and services and the application of CSR criteria in the standard service processes. We are now going to ascertain whether there is a genuine demand for sustainable products and services."

Each department will formulate two CSR objectives. The focus in 2005 is on achieving the following objectives:

Group wide CSR-focus: each group unit sets forth two concrete CSR objectives in its 2006 annual plan;

Financial Services: implementing CSR criteria in commercial practice (internationally and nationally) and a programme aimed at immigrant customers (micro-credit in the cities);

Social involvement: expanding the Rabobank Development Programme (in particular investing in rural banks in developing countries) and raising the visibility of the co-operative dividend (social sponsoring, donations and many social projects);

Company activities: Introducing lease cars that are less harmful to the environment (a more environmentally-conscious lease car scheme).

2004 Highlights

In 2004 the Rabo Green Bank surpassed the 2 billion balance sheet total threshold. Gross lending rose by EUR 534 million last year, an increase of 25% in comparison to previous years. The Rabobank Development Programme was also launched in October 2004. This programme conducts activities that are aimed at providing farmers, SME entrepreneurs and private individuals in developing countries with access to financial services. Rabobank has made EUR 25 million in funding available for this purpose. One of the first activities to be carried out under the auspices of the Rabobank Development Programme entails the professionalisation of two rural banks in China in partnership with the International Finance Corporation (IFC). Another highlight in 2004 was the increased reliability of the 2004 Annual Responsibility and Sustainability Report. Rabobank was one of the first organisations to receive a so-called 'positive assurance' from the external auditor. This provides the readers of the report with added certainty regarding the reliability of the information provided.

Note for editors:

More information on the lease car policy can be found in the 2004 Annual Responsibility and Sustainability Report. Rabobank has published two versions of this report: - An Internet version (www.rabobankgroep.nl/jaarverslag) that has been written according to the GRI guidelines. This publication is intended for analysts, NGOs, rating agencies and scientists. - A printed version that has been written for customers, employees and other interested parties as an update on Rabobank's activities in the field of Corporate Social Responsibility. This printed version provides a general overview of the content of the complete Annual Responsibility and Sustainability Report. hugin.info/133178/R/990424/148909.pdf

Rabobank: Moving Beyond Pioneering Phase to Embed CSR Into the Business Operations

Rabobank: Moving Beyond Pioneering Phase to Embed CSR Into the Business Operations

Rabobank Group

Rabobank Group

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