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22 Jul 2019

ABN Amro

ABN Amro response

…ABN AMRO strives to create long-term value for its stakeholders, to respect human rights and safeguard the environment. The bank recognizes that in its role as a financial service provider it may be exposed to social, environmental and ethical risks through the activities of clients. To manage these sustainability risks, ABN AMRO operates a Sustainability Risk Policy Framework in line with the banks moderate risk profile.  More specifically, ABN AMRO has formulated sustainability requirements for clients in the agri-commodity sector. ABN AMRO acknowledges that the agri sector poses sustainability risks, such as: Deforestation: Agriculture may involve clear-cutting of forest. Deforestation is of concern as forests are a prerequisite for biodiversity. Forests also serve as carbon sinks and therefore play an important role in climate change mitigation. Peatland degradation: Peatlands may be drained for agricultural purposes. This causes degradation and the emission of methane into the atmosphere contributing to climate change. Also, drainage increases the risk of fire and flooding.  Land issues: Large-scale land acquisitions for the purpose of plantations for agriculture may lead to land disputes with local communities.  Working conditions: Working conditions in the agri sector may be hazardous, for example because of lack of protection and the use of chemicals and pesticides. Also child labour is may be an issue…