Current debate about shale gas
- Sustainability
There is a current debate in the Netherlands about the production of shale gas. Henk Kamp, Dutch Minister of Economic Affairs, asked a committee to identify the effects of shale gas production. Unlike the US, where shale gas has become a part of the energy mix in a relatively short time, the Netherlands does not currently produce shale gas – so financing it is not an issue.
ABN AMRO is an international player in the financing of oil and gas and has a specificsustainability policy for this sector. With this policy, the bank ensures that itsactivities do not negatively impact the environment in which its clients live. It does this by requiring its clients to conform to international regulations on safety, health and the environment. The sustainability policy for the energy sector is currently being revised as a result of the rise in unconventional technologies for the production of oil and gas and will be completed in 2013. In the meantime, ABN AMRO has decided to exercise restraint in directly financing the production of shale gas. Each request will be assessed independently based on international best practices on safety, health and environment. The bank will also take into account the local context, including the social consensus on shale gas production, when taking decisions. You can find more information on the revision of the sustainability policy for the energy sector in the 2012 Sustainability Report (page 17).