Awards for Excellence 2019
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While many banks are engaged in sustainable finance in western Europe, very few are focusing every part of the bank on an environmental or social purpose. ABN Amro, western Europe’s best bank for sustainable finance, is one that is.
The bank does not finance coal projects, nor does it invest in the tobacco industry. It is in the top five banks in the league tables for euro-denominated green bonds and was the sole green bond structuring adviser on the Netherlands’ first sovereign green bond this year.
ABN Amro is a leader in offshore wind financing, having done 11 deals in four different European countries, totalling €1 billion.
The bank did a blue-print wind transaction in Spain, showing that renewable energy can be successful and subsidy free. It also teamed up with the EIB last year to provide €150 million to finance green shipping.
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Kees van Dijkhuizen |
ABN Amro is known for promoting the concept of the circular economy, which aims to minimize waste and make the most of resources. It is the first bank with circular finance ambitions and plans to finance at least 100 circular loans totalling €1 billion by the end of 2020.
The bank’s largest portfolio – and therefore where it will have the greatest impact – is in mortgages, where it finances around €150 billion for 900,000 clients. Conversations with those clients about mortgages now also cover how to make houses more sustainable.
The bank is committed to having its whole financed real estate portfolio at an average label A for energy efficiency by 2030.
“Together with our clients, we can have a positive impact by making our society more sustainable. And we are making good progress,” says chief executive Kees van Dijkhuizen.
For investors in the private bank, it has ramped up its green offerings: some €14 billion of client money is now in ESG investments. That will grow to €16 billion next year.
Finally, among its social investments, the bank has developed special financing options for people who would like to start foster homes and has rolled this out throughout the Netherlands successfully over the last few years.
