ABN AMRO continuously monitors whether its clients comply with local and international laws and regulations as well as with the bank’s sustainability policies. The first test is carried out during the client acceptance procedure. If a potential client fails the test at that point, the bank refrains from doing business with this party.
A situation could arise where there are indications that an existing client no longer meets our requirements. In such cases, we contact the client and establish the actual facts, calling in the aid of a third party if needed. If it turns out that a client no longer complies with our policies, we seriously engage with the client, with the aim of improving the situation. “In this way we can exert our influence as a lender to urge the client to operate in a more sustainable manner,” says Richard Kooloos, Head of Sustainable Banking. “We also take this approach when there are potentially non-compliant activities within a client’s supply chain.”
If the client shows little progress and continues to disregard the bank’s sustainability policies, we ultimately end the relationship, with due regard to legal requirements. ABN AMRO has in place several sector-specific sustainability policies, which are available on the website. For more information on applying the bank’s sustainability policy in practice, read the blog written by Marieke Abcouwer of our Sustainable Banking department.