ABN Amro
ABN AMRO stands out from its peers in the sector. The bank has made significant progress in integrating its sustainability criteria throughout its business units and subsidiaries, to reduce lending and investment risks, as well as contributing to product innovation. It lends at favourable rates for environmental projects, sustainable construction and corporate environmental improvements, and is active in microfinance. It has been heavily involved in global initiatives on sustainable finance, including as one of the initiators of the Equator Principles, a set of voluntary guidelines for managing social and environmental issues related to the financing of development projects. ABN’s lending in developing countries is based on World Bank guidelines and in August 2002, it announced that it was placing limits on the level of environmental risk it would accept in lending to mining, oil and gas and forestry projects. The bank has previously pulled out of investments, such as the Maheshwar Dam project in India, due to social and environmental concerns, and ABN has now publicly formalised its commitment through its role in the Equator Principles. Ambitious goals include the 2006 objective to improve energy efficiency by 25% and a 100% waste re-use/recycle/waste-to-energy target. The traditional governance system is well-structured and has been further strengthened in accordance with recent new Dutch and US governance codes. Given its long positive track record, minimal regulatory problems, leading business practices and continual engagement in the evolving challenges presented by sustainable finance, ABN is the clear leader in addressing corporate social responsibilities within the banking sector.
