True price: this is what your purchases really cost

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Did you know that a pair of jeans is in fact 33 euros too cheap? A whole host of hidden costs aren’t passed on in its price, including pollution and labour exploitation. ABN AMRO is taking action to address this.

Those hidden costs include surface water pollution in countries such as Bangladesh as a result of toxic dyes – cleaning this up takes a lot of money. Heavily underpaid workers in clothes factories also rank as hidden costs, as these people are unable to live a dignified life because of low pay, and often can’t send their children to school. Indirectly and in the rather longer term, this costs an awful lot of money.

This problem applies to a lot more stuff that we buy, and it’s no wonder that we often ask ourselves how they can make something for so little. And, of course, all this is bad for people and bad for our planet. So ABN AMRO is taking action.   

After all, there’s a reason why our purpose is ‘Banking for better, for generations to come’!

ABN AMRO wants to tackle climate change and social inequality head on. Using our influence as a bank, we’ll only finance companies that are making their supply chains sustainable, or are willing to do so.

Also, we want to give consumers insight into the true price of the products they buy, i.e. the price we’d be paying if all hidden costs were factored in. For example, the Amsterdam-based Impact Institute, a key strategic partner, has helped us calculate the true price of jeans. We’re working towards a sustainable world in which true prices are the same as the prices we pay in our shops, i.e. for products that do no harm to either people or planet. 

We invite you to attend workshops and events at our Circl pavilion (a circular built pavilion, initiated by ABN AMRO), covering true price and other topics related to financing a sustainable and circular economy. Check out the Circl agenda here (in Dutch only). 

Want to know what the bank does and what you can do?

Want to know more about true price?

Read more about true price. 

Read the research report on the true price of jeans.

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