Bank's Policy
Animal Farming & Food Production
65%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO expects its business relations to acknowledge the right of animals to be free from hunger and thirst, free from discomfort, free from pain, injury or disease, free to express their normal behaviour and free from fear and distress (also known as the Five Animal Freedoms).
Comments on score: The bank requires clients to acknowledge the five freedoms
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
- a) Clients have an animal welfare policy in place that addresses the protection of the Five Animal Freedoms and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
- b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
- c) Clients have an animal welfare monitoring system in place.
Comments on score: The bank requires clients to acknowledge the five freedoms
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO expects its business relations to adhere to applicable laws and regulations related to livestock farming, which in the Netherlands prohibits the most restrictive housing methods such as calves in crates, hens in battery cages and sows in permanent feeding cubicles.
We encourage our business relations to become a frontrunner in both reducing environmental impact (i.e. CO2 emissions) and promoting animal welfare (animal health in particular), to shift to more animal friendly production methods for livestock farming and to comply with voluntary standards on animal welfare, such as the Beter Leven quality mark.
Comments on score: Clients must have cage-free and/or crate-free production systems
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
- b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
Comments on score: Clients must have cage-free and/or crate-free production systems
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
- a) Clients have an animal welfare policy in place that addresses the protection of the Five Animal Freedoms and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
- b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
- c) Clients have an animal welfare monitoring system in place.
Comments on score: Clients must guarantee the protection of the five freedoms. While FARMS is mentioned as a benchmark, compliance with Global GAP is also allowed, which is less strict
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
- a) Clients have an animal welfare policy in place that addresses the protection of the Five Animal Freedoms and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
- b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
- c) Clients have an animal welfare monitoring system in place.
Comments on score: Clients must guarantee the protection of the five freedoms, and the FARMS are mentioned as a benchmark. However, painful procedures are not explicitely mentioned. GAP, which is referred to as an optional standard, does not protect enough against painful procedures.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
- a) Clients have an animal welfare policy in place that addresses the protection of the Five Animal Freedoms and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
- b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
- c) Clients have an animal welfare monitoring system in place.
Comments on score: Clients must guarantee the protection of the five freedoms, and the FARMS are mentioned as a benchmark. However, breeding practices are not explicitely mentioned. GAP, which is referred to as an optional standard, does not have strict enough criteria on this.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO supports reducing the time limit of animal transport to a maximum of eight hours.
Comments on score: Though a reduction of transport to 8hours is "supported", this is not set as an absolute maximum.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
a) Clients have an animal welfare policy in place that addresses the protection of the Five Animal Freedoms and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives. Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
c) Clients have an animal welfare monitoring system in place.
Comments on score: Clients must guarantee the protection of the five freedoms, and the FARMS are mentioned as a benchmark. However, slaughter practices are not explicitely mentioned. GAP, which is referred to as an optional standard, does not have strict enough criteria on this.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO expects its business relations to adhere to local applicable laws and regulations related to animal welfare, such as the Dutch Animals’ Act (Wet Dieren) and the UK Animal Welfare Act. We also encourage our business relations to comply with voluntary
standards of animal welfare, such as the Beter Leven quality mark. Where local law conflicts with animal welfare protection, we expect our business relations to comply with local law without compromising animal welfare.
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ABN AMRO encourages is business relations active in fisheries to obtain or use the MSC certificate for wild-caught fish and seafood, and the ASC certificate for farmed fish and seafood (aquaculture) or equivalent standards. In accordance with these standards, ABN AMRO explicitly excludes the use of dynamite or poison related to the catching of fish or shellfish.
Comments on score: Clients must have monitoring systems and are encouraged to seek certification. But there is no specific requirement for third party auditing
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Animal Welfare
a) Clients have an animal welfare policy15 in place that addresses the protection of the Five Animal Freedoms16 and describes the management of key risks to infringement of these freedoms during breeding, fattening, slaughtering and/or transportation.
b) Clients have cage-free and crate-free production systems and apply best practices in terms of living space for animals as defined by FARMS Initiative or other initiatives.17 (17) Such as ‘Beter Leven’, Global Animal Partnership, Planet Proof
c) Clients have an animal welfare monitoring system in place.
(…)
Clients’ farms are Aquaculture Stewardship Council (ASC) certified or equivalent.
Comments on score: Clients must have monitoring systems and are encouraged to seek certification. But there is no specific requirement for third party auditing
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Antibiotics
a) Clients are committed to no prophylactic or routine use of antibiotics.
b) Clients disclose the use of hormones and antibiotics, as well as reasons for use. Data is verified by a third party
- Specific attention for the use of Medically and Critically Important Antibiotics (MIA/CIA), which are only to be used if no alternative treatment opportunities are available.
Comments on score: The bank sets limits to the use of antibiotics
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
We encourage our business relations to become a frontrunner in both reducing environmental impact (i.e. CO2 emissions) and promoting animal welfare (animal health in particular), to shift to more animal friendly production methods for farming and to comply with voluntary standards on animal welfare, such as the Beter Leven quality mark.
Comments on score: Clients are encouraged to work on alternatives, but this is not a requirement
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Exclusion
Ruminants, such as cows, goat and sheep, emit large quantities of methane, a very strong greenhouse gas. Because of its contribution to climate change and ABN AMRO’s commitment to reduce the GHG intensity of our loan portfolio, ABN AMRO will not knowingly provide financial products or services that directly facilitate large-scale ruminant farming (over 500,000 heads).
Implementation
Clients work on innovation to reduce their environmental and climate impacts (e.g. insect based feed, plant-based products).
Comments on score: Clients are encouraged to work on alternatives, but this is not a requirement
Animal Testing
83%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO considers the following practices unacceptable:
- commercial, non-healthcare related animal testing (including but not limited to cosmetics testing);
- the use of endangered species or great apes (Gorillas, orangutans, bonobos, chimpanzees) for testing or experimental purposes;
Comments on score: The bank prohibits commercial, non healthcare related animal testing.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO considers the following practices unacceptable:
- the use of endangered species or great apes for testing or experimental purposes;
- health care related animal testing that is non-compliant with EU, US or equivalent legislation.
The use of laboratory animals for manufacturing medical products is acceptable, but ABN AMRO expects its business relations to minimise the use of laboratory animals, the animal suffering and the number of animals used (the so-called 3R strategy: Replace, Reduce, Refine) for this purpose.
Comments on score: The bank requires clients to strive for the 3Rs.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO expects its business relations to refrain from genetic modification and cloning of animals (or humans) for commercial purposes. If genetically modified organisms are used, transport should be in line with the Cartagena Protocol on Biosafety to the Convention on Biological Diversity.
Comments on score: The policy expects companies to refrain from genetic modification of animals, but makes exceptions.
Pets, Entertainment and Fashion
50%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO will not take on new clients involved in fur activities (including capturing or keeping animals for fur, manufacturing, trading or selling fur products), nor will it expand existing relationships with clients involved in fur activities.
ABN AMRO considers trade and manufacturing of angora wool unacceptable.
Comments on score: The bank might still finance existing clients in the fur industry, and the policy does not explicitely mention leather
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Trade in wildlife or wildlife products regulated under CITES (focus on endangered categories) is unacceptable, as is animal trade involving endangered species for commercial purposes.
Comments on score: The policy excludes the trade in endangered animals , but does not exclude the trade in non threatened wild animals.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO considers the following practices unacceptable:
- support of any type of animal fights for entertainment;
- entertainment events with animals where the Five Animal Freedoms are not respected.
If entertainment with animals doesn’t involve animal fights and if the Five Animal Freedoms are respected, ABN AMRO encourages entertainment with animals to be combined with other objectives as well, such as conservation, research, shelter and education.
Comments on score: The policy does not cover this criterion specifically, but in general requires the five freedoms to be respected
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
ABN AMRO considers the following practices unacceptable:
- support of any type of animal fights for entertainment;
- entertainment events with animals where the Five Animal Freedoms are not respected.
If entertainment with animals doesn’t involve animal fights and if the Five Animal Freedoms are respected, ABN AMRO encourages entertainment with animals to be combined with other objectives as well, such as conservation, research, shelter and education.
Comments on score: The bank has strict criteria for the use of animals in entertainment or other commercial activities, but it does not exclude it.
Governance
38%
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Supply chain management
a) Clients apply environmental, social and animal welfare criteria to the selection of suppliers, service providers, contractors and other business partners, and monitor their suppliers’ performance on these topics.
Comments on score: covered - the bank requires clients to include animal welfare criteria in the selection of their suppliers, though it does not mention compliance clauses in contracts
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Activities that fall within the scope of the (Animal Welfare) Statement are:
(…)
- Supplier engagement: screening and selection of product and service suppliers.
Comments on score: partially covered - animal welfare is considered in the engagement with clients, but compliance is not a requirement.
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
not covered
Comments on score: not covered
Assessed policy
Extract of the policy that covers, or comes closest to covering this criterium
Sustainable finance can be achieved by promoting an improvement of the borrower’s sustainability performance or by dedicating the use of proceeds of the financial instrument to sustainable projects, assets and activities. ABN AMRO applies its sector and sustainability knowledges when structuring sustainable finance transactions both on a bi-lateral and syndicated basis. For syndicated (multi-bank) loans ABN AMRO has acted as sustainability coordinator in multiple transactions, in this role we work with the borrower on behalf of the wider bank group to set the suitable sustainability parameters.
1. Sustainability Linked Loans: Sustainability linked loans are any types of loan instruments and/or contingent facilities (such as bonding lines, guarantee lines or letters of credit) which incentivise the borrower’s achievement of ambitious, predetermined ustainability performance objectives. These loans incentivise the borrowers’ commitment to sustainability and support environmentally and socially sustainable economic activity and growth.
2. Green Loans: Green loans are any type of loan instrument made available exclusively to finance or re-finance, in whole or in part, new and/or existing eligible Green Projects. Hence, the use of proceeds is exclusively dedicated to these Green assets/projects/activities.
Comments on score: The bank does have transition finance products, however, food systems and animal welfare are not mentioned