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Created before Nov 2016
Last update: 2017-01-10 15:58:20
Johan Frijns, BankTrack
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ABN AMRO Bank N.V. is a Dutch state-owned bank with headquarters in Amsterdam. It was re-established, in its current form, in 2009 following the acquisition and break up of ABN AMRO Group by a banking consortium consisting of Royal Bank of Scotland Group, Santander and Fortis.
ABN AMRO serves retail, private and commercial banking customers in the Netherlands and to a lesser extent in other markets, where it prioritises in serving Dutch companies doing business abroad. It is also active internationally in areas where it claims to have substantial expertise, such as Energy, Commodities & Transportation (ECT) and ABN AMRO Clearing. Its Private Banking activities are focused on the Netherlands, Europe and Asia.
Gustav Mahlerlaan 10
1082 PP Amsterdam
Gerrit Zalm |
|Annual report||ABN AMRO Human Rights Report 2016|
ABN AMRO Bank is majority owned by the Dutch State, with shares being sold in tranches for full return to the market.
Voluntary initiativesABN AMRO has committed itself to the following voluntary standards:
ABN Amro's current sustainability policies can be accessed on their website here.
Implementation and reporting
ABN AMRO is reporting on the implementation here.
Contact and complaints
Equator Principles Dodgy Deals
Santander and ABN AMRO refuse to renew loans to APRIL
In February, Santander announced its decision not to renew or provide further funding to APRIL, an Indonesian pulp and paper company responsible for large scale deforestation and social conflcits, following months of campaigning inlcuding a Greenpeace petition. Less than two weeks later, ABN AMRO followed suit, telling Greenpeace it will not provide APRIL with new loans until the company stops clearing rainforests and proves that it operates sustainably.
UPDATE: ABN AMRO resumed lending to APRIl as of May 2016, although it did not communicate this change of policy.
Update meeting Milieudefensie - ABN AMRO
Hi Mandy and Karen,
Rolf asked me to send you an update of our meeting with ABN. The reason for the meeting was the report we (Fair Finance Guide/ Eerlijke Bankwijzer) commissioned on investmens in soy, palm oil and livestock sector. Although we didn't publish the report we aimed to use its main conclusions in a follow up with some of the banks. In te case of ABN we wanted to discuss their engagement procedures, expectations and termination criteria (and related transparency issues). Not a new topic but in the context of this report it is a discussion we wanted to open up (main conclusion: relatively good policies/ governance structures (especially in international perspective) but still controversial investments). Tjeerd Krumpelman and Lea Zeemans were present.
There is not too much to update as the discussion first focussed on specifics of this report and later centered around the importance of confidentiality versus transparancy. Here, APRIL entered the conversation as being the example where a company's name could be made explicit as the company had approved. in other cases legally binding contracts prevent banks from discussing specific cases into detail. So, APRIL became 'the example' where engagement procedures could be explained. When talking about other companies the 'usual' confidentiality arguments were given, but we have been making a case for more transparency about procedures, expectations and termination criteria. Interesting is the (possible) difference in perceived ('legal') leverage that banks have with new clients (and new contracts) where more strict requirements can be integrated from the start compared to existing clients. In a next meeting we will discuss these issues further.
I cannot think of anything specific that is worthwhile to update, but do not hesitate to contact me if you have any remaining questions. We will discuss the engagement procedures with a couple of other banks in the upcoming two weeks (Van Lanschot and ING).
(Miriam Vreman; email@example.com)