Dutch banks and foreign factory farms
- Sustainability
ABN AMRO considers it vital that clients comply with the applicable legislation of the country in which they are located. This is an inherent part of the conversations between ABN AMRO’s relationship managers and our clients. ABN AMRO does not want to work with clients who don’t comply with animal welfare legislation.
Animal welfare organisation Wakker Dier published a report on Monday 20 June stating that Dutch banks are some of the world’s largest investors in factory farms in the US and emerging economies such as Brazil and China.
ABN AMRO mainly focuses on the Dutch agriculturalsector, as is shown in the report. In comparison with other banks, both in the Netherlands and internationally, ABN AMRO has a limited share in the international livestock sector. The report explicitly mentions three companies, including the Brazilian company Marfrig, where ABN AMRO participates in their financing with a 17 million-euro loan through a syndicate of banks.
Animal welfare is largely determined by the animals’health, rather than the size of the farms. Healthy animals grow and produce well and economically, so farmers have an interest in good animal welfare. The Dutch livestock industry is a front-runner in this area and ABN AMRO has made many investments in recent years in animal-friendly housing systems.