ABN AMRO signs up to Dutch government’s climate goals

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ABN AMRO embraces Dutch climate objectives and ‘Paris’, together with more than 50 other Dutch financial institutions: banks, insurers, pension funds and asset managers. On Wednesday morning, Chief Risk Officer Tanja Cuppen signed the Dutch cabinet’s climate goals on behalf of ABN AMRO.

Tanja Cuppen put her signature to the agreement in the presence of Wopke Hoekstra, the Dutch finance minister. These signatures represent a commitment by the Dutch financial services industry to report on the climate impact of loans and investments starting in 2020. The signatories also committed to having action plans in place to help reduce carbon emissions by 2022.

In this way, the sector will contribute not only to the Dutch climate goals, but to the achievement of the climate targets as agreed in the Paris Accord as well. These commitments are no paper exercise: the achievements of the financial sector will be monitored, and the agreements revisited once every five years.

The Dutch government is aiming for greenhouse emissions in 2030 of 49% below those in 1990, and this climate agreement will impact all sectors of the Dutch economy and its residents – which is why corporate Holland will need to buckle down to help get the job done.

The financial sector signatories will contribute to sustainability projects that help accelerate the energy transition, while they will also join forces to finance climate-friendly projects.

ABN AMRO is well underway in contributing to these climate goals. Its mission is to have all ABN AMRO-financed buildings score an average energy label A by 2030, which should make for a massive reduction in carbon emissions. In addition, ABN AMRO is currently the country’s biggest player in sustainable investing and the bank’s aim is to grow its sustainably invested assets to EUR 16 million by 2020. ABN AMRO also helps companies to finance their sustainable capital spending and hopes to have a sustainable loan portfolio totalling EUR 1.5 billion by as early as the end of 2019. ABN AMRO aspires to ‘Paris-proof’ its head office at Gustav Mahlerlaan in the Amsterdam financial district, its offices at Foppingadreef (also in Amsterdam) and 62 branch offices, by 2030 at the very latest. This means that the bank’s own offices should emit 65% less carbon over the next decade.

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