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. Following the collapse
of Fortis, the acquirer of the Dutch business, it was nationalized by the Dutch
government along with Fortis Bank Nederland. The Dutch government has said it
would remain state owned at least until 2014 after which it would consider a
public stock market listing for the new bank.
ownership
not listed on stock exchange
ABN AMRO Bank is owned by the Dutch State.
In October 2008, the Dutch State acquired Fortis Bank Nederland N.V., the business units ABN AMRO Netherlands and ABN AMRO Private Banking as well as the International Diamond & Jewelry Group (an ABN AMRO entity).
On April 1, 2010, Fortis Bank Nederland and ABN AMRO's businesses (ABN AMRO Bank) were transferred to ABN AMRO Group N.V. Consequently, the memberships of the Supervisory Boards and Managing Boards of ABN AMRO Group, ABN AMRO Bank and Fortis Bank Nederland were the same.
On July 1, 2010, the legal merger of ABN AMRO Bank and Fortis Bank Nederland became effective and the operations of both banks have continued under the name ABN AMRO Bank.
headquarters
Gustav Mahlerlaan 10
1082 PP Amsterdam
Netherlands
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
ABN
Amro has developed a series of policies and statements covering almost all
sectors and issues of this research. However, the bank has not disclosed its
policies to the public, but placed short summaries on its Dutch website. Where
applicable they are accredited points.
ABN Amro is currently merging with Fortis Bank Nederland. The scores below are based on the situation at ABN Amro as it is right now. We will reconsider the scores after the integration of both banks, in July 2010.
agriculture
0
1
2
3
4
5
arms industry and trade
0
1
2
3
4
5
fisheries
0
1
2
3
4
5
forestry
0
1
2
3
4
5
mining
0
1
2
3
4
5
oil and gas
0
1
2
3
4
5
power generation
0
1
2
3
4
5
biodiversity
0
1
2
3
4
5
climate change
0
1
2
3
4
5
corruption
0
1
2
3
4
5
human rights
0
1
2
3
4
5
indigenous peoples
0
1
2
3
4
5
labour
0
1
2
3
4
5
operation in conflict zones
0
1
2
3
4
5
taxation
0
1
2
3
4
5
toxics
0
1
2
3
4
5
accountability
0
1
2
3
4
5
transparency
0
1
2
3
4
5
additional information
Most international corporate banking business was acquired by RBS and, to a lesser extent, Santander. The sustainability policies of ABN Amro from before the break-up of the bank are still in place. Find summaries of these policies here.
ABN Amro was one of the banks that initiated the Equator Principles, but is at the moment no longer listed as such because ABN Amro has no project finance anymore. this will possibly change after the integration with Fortis Bank Nederland in July 2010. The bank is equally delisted from UNEP Finance Initiative and Principles for Responsible Investment.
Most of the international project finance business of ABN AMRO has been transferred to RBS. So has ABN Amro's involvement. The engagement of ABN Amro in Cluster Munitions producers and the Rapu Rapu Copper Mine has been ended.
Cluster Munitions producers
Cluster munitions pose a serious threat to civilian populations during and after a conflict. Cluster munitions are designed to blanket a large area containing one or more…
The Srepok River is a 400 km tributary of the Mekong River, which originates in the Central Highlands of Vietnam and then flows into Cambodia's provinces of Mondulkiri, Ratanakiri…
Anglo American and its Canadian partner Northern Dynasty formed the Pebble Limited Partnership in 2007 to develop a massive copper and gold mine - the Pebble Project - in…
The Rapu Rapu Polymetallic Project on Rapu Rapu island in the South East of the Philippines is a open pit mine with a estimated annual production of approximately 11,000…
BankTrack has identified controversial issues
with the companies listed below that require attention from ABN AMRO.
E.on
E.ON is a German electricity company headquartered in Düsseldorf and is another of big beasts of energy production. E.ON operates along the entire value chain of power…
Founded in 1923, state-owned Eskom generates, transports and distributes approximately 95% of South Africa's electricity. That's a huge 60% of the total electricity consumed…
As Europe's second largest electricity generator and one of Europe's five leading gas and electricity companies, this German utility is another of energy and gas production's…
Sweden's state-owned Vattenfall is Europe's fifth largest generator of electricity and largest producer of heat. Vattenfall delivers electricity to around 7.4 million customers…
Apr 01, 2010 | Netwerk Vlaanderen, IKV PAX Christi
A short version of the 'Hall of Fame and runners-up'-document. Both taken from the report: "Worldwide Investments in Cluster Munitions; A Shared Responsibility" Updated April 2010.
Jun 09, 2007 | Friends of the Earth Netherlands - Milieudefensie
The report compares financed CO2 emissions by six Dutch banks (ABN AMRO , ING, Rabobank, Fortis, Triodos and ASN bank). The research results in the Climate Performance Index 2007.
Investing in Climate Change: the role of Dutch banks
Jun 07, 2006 | Milieudefensie
Milieudefensie report that describes how Dutch banks are investing in climate change both through the direct emissions of their organisation as the indirect emissions of their investments.
A Millieudefensie Report. Review of the oil palm and forestry investment policies adopted in 2001 by ABN Amro, FMO, Fortis, ING, and Rabobank. A second part gives recommendations to banks and the government on responsible investment policies and practices.
Letter to BankTrack as a response to BT letter of February 11, 2010
Mar 29, 2010 | Equator Principles Financial Insititutions, Citi
The first response ever to one of the letters BankTrack sent to the Equator Principles Financial Insititutions. It is a response to the BankTrack follow up letter after the meeting in Zuerich, February 4.
Using the 2011 Global Investor Statement on Climate Change, investors will advocate for investment grade climate change and energy policies at the national and international level.
Utility Performance: Electricity of Vietnam
Buon Kuop Hydropower Project
Apr 01, 2007 | Probe International
Briefing document identifing revenue risks and liabilities associated with the Buon Kuop hydropower project and the associated financiers and contractors.
