ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

Particulars
About Your Organisation
1.1 Member NameABN AMRO Bank N.V.
1.2 Membership Number
5-0016-14-000-00
1.3 Membership Sector
Banks and Investors
1.4 Membership Category
Ordinary
1.5 Country
Netherlands
2.0 Does your company or organisation produce, process, consume or sell any palm oil or any products containing
derivatives of palm oil?
No
2.2 Please select all the sectors that best describe the business activities of your company or organisation,
including your primary RSPO membershop sector. You may select multiple sectors and will be required tocomplete the ACOP form for the relevant sectors
I am a bank or financial institution that finances or supports companies or organisations that produce or manufacture palm oil, palm kernel oil orrelated products
I am a conservation and environmental NGO supporting the sustainable development of the palm oil industry
I am a social and human development NGO supporting the sustainable development of the palm oil industry
I am an Affiliate member of the RSPO, indirectly involved in the palm oil industry

Particulars

Page 1/1

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

Bank & Investors
1. Operational Profile
1.1 Please state your company's main activity(ies) within palm oil-related financing. Please select all applicable
option(s).
Corporate / Commercial Banking
Trade Finance
Private Banking
Investment / Equity
Debt / Capital Market
Other

Other
-

2. Operations in Palm Oil
2.1 What types of financial services does your company provide to the palm oil industry?
Trade Solutions
Lending/Loans
Leasing
Treasury Products
Cash Management Products
Investments
Insurance
Other

Other
2.2 For your company's palm oil-related activities, which geographic region(s) do you operate in?
WorldwideAfrica
EuropeNorth America
South America
Middle East
China
India
Indonesia
Malaysia
Oceania
Rest of Asia

Bank & Investors

Page 1/4

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

3. Palm Oil Policy and Progress
3.1 Does your company have a lending or investment policy on palm oil?
Yes
3.2 Which supply chain sectors does your palm oil policy cover?
Growers
Traders
Processors
Consumer Goods Manufacturers
Retailers
OthersOthersIn addition to our palm oil policy, RSPO requirements are included in our sustainability sector requirements for
Manufacturing which applies to Consumer Goods Manufacturers and Retailers
3.3 Does your policy on palm oil make a specific reference to RSPO-certified sustainable palm oil and oil palm
products, and/or RSPO certification?
Yes
3.4 Does your company have a policy that requires all your palm oil clients to be RSPO members?
Yes
3.5 Does your company require your clients to have a public TimeBound Plan for 100% RSPO certification oruptake?
Yes
3.6 When do you expect to require all your Grower clients to be RSPO certified?
2020
3.7 When do you expect to require your clients in all other sectors to be RSPO certified?
2020

Bank & Investors

Page 2/4

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

3.8 Which regions do the above commitments cover?
WorldwideAfrica
EuropeNorth America
South America
Middle EastChina
India
Indonesia
Malaysia
Oceania
Rest of Asia

3.9 What measures do you take if a client is not meeting the requirements of your policy on palm oil?
Our clients have to comply with our Exclusion List and our sustainability risk policies (ia. producers, processors andtraders are assessed against our sustainability sector requirements for agri commodities/palm oil and downstream clients areassessed against our sustainability sector requirements for manufacturing). ABN AMRO assesses compliance with ourpolicies at 1) onboarding 2) new financing 3) annual review, and 4) in case of severe events. In case of non compliance thecompany is not onboarded if there is no willingness and capacity to improve. Otherwise, we will engage with the company
to address the issues until they are sufficiently managed and mitigated. This engagement will be time bound (max. 3 years),include an engagement and action plan and include regular monitoring and reporting system on progress (see ourEngagement Guideline in the Sustainability Risk Policy for Lending and Project Finance)

3.10 Do you proactively engage with your clients to support and join the RSPO?
Yes
3.11 Did members of your company participate in RSPO working groups and/or taskforces during the reporting
period?
Yes
3.12 Does your company have any collaborations with public or private sector palm oil industry players tosupport them in their efforts to increase the production or consumption of certified sustainable palm oil (CSPO)?
No
3.13 What other activities have your company undertaken to promote RSPO-certified sustainable palm oil and oilpalm products during the reporting period?
As a consequence of the wind down of our corporate banking activities outside of Europe and the Trade and Commodity
Finance desk globally, our direct exposure to the palm oil industry has decreased significantly. We do not provide
financing/loans anymore to palm oil producers, processors or traders. However, we do have some indirect exposure to palm
oil via our Food & Retail clients. These clients are mainly based in the Netherlands and are already doing a lot to increase
the uptake of sustainable palm oil further - in 2020 90% of the palm oil they used was certified sustainable palm oil:https://www.cbs.nl/nl-nl/longread/aanvullende-statistische-diensten/2021/monitor-duurzame-agro-grondstoffen-2021/2palmolie. Nevertheless, we do still engage with our clients on this topic and share experiences and knowledge. The same
holds for clients in the feed industry.
Furthermore, we have included KPIs on certified raw materials (amongst others CSPO) in several sustainability linked
loans that we provided to Food & Retail clients.

Bank & Investors

Page 3/4

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

4. Actions for Next Reporting Period
4.1 Please outline activities that your company will take in the coming year to promote the production or
consumption of certified sustainable palm oil (CSPO)
Participation in RSPO Working Group or Task Forces
Support Independent Smallholders (ISH)
Contribute to the RSPO Smallholder Trainer Academy
Financial contribution to the RSPO Smallholder Support FundDirect investments in Smallholder Certification projects
Involvement/direct investments in Jurisdictional/Landscape approach
Direct/collective investments in conservation and restoration initiatives
Financial contribution to support members with Remediation and Compensation (RaCP) process, direct/collective investments in conservation
and restoration initiatives
Allocating FTE to promote the production or consumption of certified sustainable oil palm products
Specific policies and action plans by the member to promote CSPO production or consumption in the upstream or downstream supply chain,including target dates or broader policies that include such efforts
No activities plannedOthers

Other
As a consequence of the wind down of our corporate banking activities outside of Europe and the Trade and Commodity
Finance desk globally, we are considering to transfer our RSPO membership from our Corporate Bank to our WealthManagement Bank in 2022. Therefore, we will determine our new focus and strategy in 2022 and decide on activities
thereafter. In our Corporate Bank, we will continue to encourage our downstream clients to include the consumption ofCSPO in sustainable finance instruments.

Bank & Investors

Page 4/4ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

Shared Responsibility
The Board of Governors of the Roundtable on Sustainable Palm Oil approved new Shared Responsibility rules on 31
October 2019, requiring all members to share sustainability requirements and obligations. Reporting of Shared
Responsibility (SR) requirements will be done through ACOP and MyRSPO. As the process of verification of thereports is in development, the Shared Responsibility section in ACOP may change in future ACOP cycles. Evidence
to show compliance to the SR requirements shall be uploaded via your membership profile in MyRSPO. Please login
to your MyRSPO account and upload the relevant policies, plans and relevant reports there. If you do not have apolicy or your policy does not cover all items, you will be required to provide a Declaration of Support for therelevant policy items in your MyRSPO profile. Additional information on the required policies and plans applicable
to all sectors as well as the annual uptake targets for supply chain actors can be found on
https://rspo.org/members/shared-responsibility or email the Shared Responsibility team atsharedresponsibility@rspo.org.
Information & Public Availability
1.1 Does your company have organisational management documents publicly-available?
Yes
Ethical Conduct & Human Rights
1.2 Does your company have a publicly-available Policy covering Ethical Conduct & Human Rights?
Yes
1.2.1 Does the policy cover:
Recruitment
Contractors
Suppliers and Sub-Contractors

Legal Compliance
1.3 Does your company comply with all applicable legal requirements?
Yes
1.4 Does your company require its third party contractors to comply with legal requirements, i.e. including aclause on legal compliance in the contracts?
Yes
Complaints & Grievances
1.5 Does your company have a Grievance Mechanism that is accessible to all affected parties?
Yes
1.5.1 Is your Grievance mechanism in line with the principles of the RSPO's Complaints System?
No

Shared Responsibility

Page 1/2

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

Smallholders
1.7 Does your company support oil palm smallholders (groups)?
No
Labour & Labour Rights
1.8 Does your company have a publicly-available policy covering Labour & Labour Rights?
Yes
1.8.1 Does the policy cover:No discrimination and equal opportunitiesPay and working conditions at least at legal or industry minimum standards and are sufficient to provide decent living wages (DLW)
Freedom of association and Collective bargaining
Protection of children, as well as the workforce of suppliers and third-party contractors
Prevention of all forms of harassment, including sexual harassment
No forced or trafficked labour

Occupational Health & Safety
1.9 Does your company have a publicly-available Policy covering Occupational Health & Safety?
Yes
1.9.1 Does your company have a Standard Operating Procedure (SOP) for Occupational Health & Safety?
YesWaste Management
1.10b Does your company have a statement of intent to reduce, recycle, reuse and disposal based on the hazardous
characteristics?
Yes
Climate Change & Greenhouse Gas (GHG)
1.13 Does your company have a publicly-available policy covering Climate Change & Greenhouse Gas (GHG)
including identification and assessment of GHG emissions and implementation of a plan to reduce or minimisethem?
Yes

Shared Responsibility

Page 2/2

ABN AMRO Bank N.V.

RSPO AnnualCommunication ofProgress 2021

Challenges and Support
1.1 What significant obstacles or challenges has your company encountered in the promotion of certified
sustainable palm oil (CSPO)? What efforts has your company taken to address these obstacles or challenges?
Awareness of RSPO in the market
Difficulties in the certification process
Certification of smallholders
Competition with non-RSPO members
High costs in achieving or adhering to certification
Human rights issues
Insufficient demand for RSPO-certified palm oil
Low usage of palm oil
Reputation of palm oil in the market
Reputation of RSPO in the market
Supply issues
Traceability issues
No challenges facedOthers

Others
1.2 In addition to the actions already reported in this ACOP report, what other ways has your company supported
the vision of the RSPO to transform markets to make sustainable palm oil the norm?
Communication and/or engagement to transform the negative perception of palm oil
Engagement with business partners or consumers on the use of CSPOEngagement with government agencies
Engagement with peers and clients
Promotion of CSPO through off product claims
Promotion of CSPO outside of RSPO venues such as trade workshops or industry associations
Promotion of physical CSPO
Providing funding or support for CSPO development effortsResearch & Development support
Stakeholder engagement
No actions takenOthers

Others
1.3 If your company has any other publicly-available reports or information regarding its palm oil-related policies
and activities, please provide the links here-Challenges & Support

Page 1/1