ESG and
Sustainable
Investment
Services
ABN AMRO Bank N.V.
Progress Report 2021
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ABN AMRO ESG and Sustainable Investment Services Progress Report 2021 |
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Contents
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Welcome to our ESG progress report |
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Executive Summary |
Facts and figures (ESG and Sustainable Investments) 5
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2021: A year in review |
6 |
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Our progress on ESG and sustainable investing |
6 |
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Building a Global ESG team |
7 |
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Continuing investment in education and training on ESG |
7 |
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Scaling up our engagement efforts through |
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partnerships and collaborations |
8 |
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Support from our stakeholders and regulators |
8 |
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Our strategy and approach |
9 |
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ABN AMRO Bank N.V. |
12 |
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Who we are |
12 |
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Our strategy |
12 |
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Accelerating the global sustainability transition |
12 |
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Our product offering |
18 |
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Regulatory landscape |
19 |
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United Nations Sustainable Development Goals |
19 |
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The Paris Agreement |
23 |
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EU Sustainable Finance Regulation |
23 |
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Sustainable Finance Disclosure Regulation |
24 |
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EU Taxonomy Regulation |
25 |
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MiFID II |
25 |
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Our approach to ESG and sustainable investing |
26 |
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What we mean by ESG and sustainable investments |
26 |
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Clearly defined criteria for ESG and sustainable |
26 |
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investments |
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Policy on coal and unconventional oil and gas |
28 |
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Working together with our stakeholders |
32 |
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Our clients |
33 |
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Our employees |
41 |
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Collaborations & credentials |
43 |
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Stewardship |
47 |
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Engagement |
50 |
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Voting |
54 |
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Outlook |
56 |
ABN AMRO ESG and Sustainable Investment Services Progress Report 2021
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Welcome to our ESG and Sustainable Investment progress report
Sustainability is core to our purpose: Banking for better, for generations to come. We see a clear role for ABN AMRO to support our clients in transitioning to more sustainable investment portfolios with high environmental, social and governance (ESG) standards. Investing more sustainably not only helps to protect our planet and improve people's lives, it can also help to mitigate investment risks in our clients' portfolios.
We believe it is our responsibility to inform our clients of ESG developments, and to advise and invest on their behalf in line with their sustainability views. Our policies and investment processes reflect our stance on ESG. We aim to promote investment in socially and environmentally responsible companies and investment funds within our industry, and we collaborate with our peers to increase awareness of ESG risks and identify ESG opportunities.
We offer ESG investments as the default option to new investment advice and discretionary portfolio management clients. With our existing clients, we proactively discuss sustainability issues and aim to help them integrate ESG considerations into their portfolios.
In 2021, we significantly exceeded our ambition of having EUR 26.5 billion in ESG client assets, reaching EUR 43 billion by year-end (including EUR 2.4 billion in impact investments), 38% of our total client assets. This growth can be attributed to an increase in sustainable contracts (with consistent growth in all countries where we operate), the transition from traditional to sustainable investment products, and financial market effects.
For the investment advisory services and individual and collective investment management activities within our group, we remain dedicated to integrating ESG standards into all our investment analyses and processes. Where possible, we act as an active investor on behalf of our clients. We aim to help the companies our clients (and fund managers) invest in to become more sustainable by engaging with them on a range of ESG topics, often in tandem with other like-minded financial institutions, by participating in collaborative engagements. In
2021, our stewardship programme grew to over 3,300 engagements with over 800 investee companies by working together with other institutional investors and our stakeholders at large.
Promoting progress in ESG standards is at the core of our investment activities, and we continue to strongly encourage the promotion of ESG across the investment industry.
I hope you enjoy reading about our ESG efforts and the progress we made in 2021. Do not hesitate to involve us where we can help to transform your investment portfolio into a more sustainable one.
Robert Swaak
CEO of ABN AMRO Bank N.V.
1 In 2021 we've published a "CEO statement on ESG" (see: Publications - ABN AMRO Bank). For 2022, we have incorporated our commitment to ESG and Sustainable investing in this document, instead of publishing a separate statement on this continuing commitment.
Welcome to our ESG progress report
Executive Summary
Facts and figures
(ESG and Sustainable Investments) 2021: A year in review
Our strategy and approach
ABN AMRO Bank N.V. Regulatory landscape
Our approach to ESG and sustainable investing
Working together with our stakeholders
Our clients
Our employees
Collaborations & credentials
Stewardship
Engagement
Voting
Outlook
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ABN AMRO ESG and Sustainable Investment Progress Report 2021 |
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Executive |
Our strategy |
Working |
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Summary |
& approach |
together with |
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our stakeholders |
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Collaborations |
Stewardship |
Outlook |
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& credentials |
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Welcome to our ESG progress report
Executive Summary
Facts and figures
(ESG and Sustainable Investments) 2021: A year in review
Our strategy and approach
ABN AMRO Bank N.V. Regulatory landscape
Our approach to ESG and sustainable investing
Working together with our stakeholders
Our clients
Our employees
Collaborations & credentials
Stewardship
Engagement
Voting
Outlook
|
ABN AMRO ESG and Sustainable Investment Services Progress Report 2021 |
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Facts and figures (ESG and Sustainable Investments)
Welcome to our ESG progress report
Executive Summary
Strategy
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PRI Rating |
ESG Criteria |
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Strategy & Governance: |
Defined and set criteria for |
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A+ |
three ESG and sustainable |
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investing propositions |
Page
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ESG Improver |
ESG Leader |
Sustainable |
31, |
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Impact |
7, |
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26 |
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Facts and figures
(ESG and Sustainable Investments) 2021: A year in review
Our strategy and approach
ABN AMRO Bank N.V.
Business
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ESG and Sustainable Assets |
Number of clients |
Markets |
6 |
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43.1 EUR bn |
25.5k ESG client contracts |
Active in 4 markets: |
37 |
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(38% of 114 EUR bn) |
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Sustainability
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Emissions2 |
EU Taxonomy Eligibility3 |
23 |
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Total Carbon Footprint |
Carbon Intensity5 |
25 |
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6.5m tCO |
e (-2%)4 |
75.8 tCO |
e per EUR 1m (-20%)4 |
36% |
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2 |
2 |
Stewardship
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Engagements |
Meetings voted at |
Resolutions voted on |
49 |
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3,339 engagements |
845 companies |
72 completed engagements 432 |
6,478 |
Markets
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Market positions |
Awards |
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Top 5 Private Banking in |
Best Provider Sustainable |
CFI.CO 2021 |
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continental Europe |
Investment Products 2021 |
Best ESG Private Banking Strategy |
- Calculation based on PCAF methodology for listed companies and uses Enterprise Value Including Cash as the denominator. The scope of the calculation includes investments in equities and corporate bonds, both direct exposure and indirect exposure through funds.
- Taxonomy Eligibility indicates the extent to which investments in NFRD companies are in scope of the EU taxonomy. It does not take into account the different technical criteria required to qualify as environmentally sustainable ('taxonomy aligned').
- Compared to 2020
- tCO2e per million EUR invested (Scope 1 and Scope 2 emissions)
Regulatory landscape
Our approach to ESG and sustainable investing
Working together with our stakeholders
Our clients
Our employees
Collaborations & credentials
Stewardship
Engagement
Voting
Outlook
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ABN Amro Bank NV published this content on 24 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2022 11:49:03 UTC.