Rabobank

The financial institution has publicly available policy statements committing to respect ILO core labour rights and expecting suppliers to do the same. It discloses its lobbying expenditures and maintains a gender balance (between 40-60%) at the senior executive level.

The institution has a stewardship policy that support environmental transitions and social best practices in line with its sustainability strategy. The policy also covers client and other stakeholder engagement, advocacy and partnerships, as well as defined criteria for successful outcomes, escalation routes, and conditions for escalation.

Moreover, the institution discloses the amount of its products, services, and capital linked to high-emitting and fossil fuel sectors. It has also ceased providing financing or services to new fossil fuel projects, as well as to clients and investees involved in such projects. Furthermore, it transparently identifies key sectors and clients for climate-related engagement.

Additionally, the institution transparently identifies and prioritizes sectors and areas for nature-related impacts, such as sectors and areas associated with the highest impact on nature stemming from its provision of products, services and capital. It not only discloses the monetary amount of financing activities linked to these priority sectors and areas with the highest negative impact on nature but also clearly identifies key sectors, clients, and investees to engage with regarding nature-related impacts.

The financial institution has an opportunity to disclose how it determines a living wage for the regions where it operates and to provide a publicly available policy statement indicating it does not make political contributions. While the institution identifies and prioritises material sustainability impacts, it has the opportunity to disclose the objective criteria and evidence used in its materiality analysis. It could commit to not using its lobbying and political engagement power to impact in directions that would lead to adverse sustainability impacts.

The institution could clarify the method used for Scope 2 emissions and monitor other Scope 3 emissions with rationale provided for excluded categories to enhance transparency. Furthermore, it could establish a transition plan covering its own operations, supply chain and portfolio.

It is recommended that the institution disclose the breakdown of clients or beneficiaries by income group and clarify processes to prevent divestment from low-income and lower-middle-income countries due to its sustainability strategies and targets. Besides, the institution’s risk assessment process should incorporate risks related to ILO fundamental rights at work for those affected by its products and services, with a mitigation process for identified risks. Additionally, it could strengthen its disclosure by identifying the social risks associated with its financing activities in relation to net zero transition.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.