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2018-96 Dutch Banking Groups and Animal Welfare

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2018-96 Dutch Banking Groups and Animal Welfare Risking animal welfare Follow up case study - Investments in chicken and pig meat production Fair Bank Guide 19 December 2019 Fair Bank Guide Risking animal welfare Follow-up case study on investment in chicken and pig meat production The Fair Bank Guide is a coalition of the following organizations: Amnesty International, Milieudefensie, Oxfam Novib, PAX and World Animal Protectioni 19 December 2019 Research by: Kanchan Mishra and Ward Warmerdam (Profundo) Dirk Jan Verdonk, PhD (World Animal Protection) i Not all coalition members of the Fair Bank Guide work on all themes and/or sectors on which the research of the Fair Bank Guide focuses. Reports on specific themes therefore do not necessarily reflect the opinion of all coalition members of the Fair Bank Guide. Table of contents Samenvatting…………………………………………………………………………………………………………………….1 Summary…………………………………………………………………………………………………………………………..3 Introduction…………………………………………………………………………………………………………………………………..5 Chapter 1 Methodology………………………………………………………………………………………….6 1.1 Establishing financial relationship ..................................................................... 6 1.1.1 Types of financing ..................................................................................................... 6 1.1.2 Timeframe ................................................................................................................ 8 1.1.3 Financial institution financing contributions ............................................................ 8 1.1.4 Data sources ............................................................................................................. 9 1.2 Assessment of animal welfare engagement activities ........................................ 9 Chapter 2 Financial relationships of Dutch banks with chicken and pig meat companies, food retailers, and restaurant companies………………………………………………10 2.1 General findings ............................................................................................. 10 2.2 ABN Amro ...................................................................................................... 14 2.2.1 Profile ...................................................................................................................... 14 2.2.2 Financial relationships ............................................................................................ 14 2.2.3 Assessment of animal welfare related engagement activities ............................... 16 2.3 De Volksbank.................................................................................................. 16 2.3.1 Profile ...................................................................................................................... 16 2.3.2 Financial relationships ............................................................................................ 17 2.3.3 Assessment of animal welfare related engagement activities ............................... 17 2.4 ING ................................................................................................................. 17 2.4.1 Profile ...................................................................................................................... 17 2.4.2 Financial relationships ............................................................................................ 18 2.4.3 Assessment of animal welfare related engagement activities ............................... 19 2.5 NIBC ............................................................................................................... 20 2.5.1 Profile ...................................................................................................................... 20 2.5.2 Financial relationships ............................................................................................ 21 2.5.3 Assessment of animal welfare related engagement activities ............................... 21 2.6 Rabobank ....................................................................................................... 21 2.6.1 Profile ...................................................................................................................... 21 2.6.2 Financial relationships ............................................................................................ 22 2.6.3 Assessment of animal welfare related engagement activities ............................... 23 2.7 Triodos ........................................................................................................... 24 2.7.1 Profile ...................................................................................................................... 24 2.7.2 Financial relationships ............................................................................................ 24 2.7.3 Assessment of animal welfare engagement activities ........................................... 25 2.8 Van Lanschot Kempen..................................................................................... 25 2.8.1 Profile ...................................................................................................................... 25 2.8.2 Financial relationships ............................................................................................ 26 2.8.3 Assessment of animal welfare engagement activities ........................................... 26 Chapter 3 Conclusion and recommendations ................................................................. 28 Selection of companies .................................................................................. 30 Gap analysis of selected company policies versus responsible business conduct 33 List of figures Figure 1 Share of investments per value segment ....................................................... 13 List of tables Commitment assigned to book runner groups ................................................. 8 Scoring grid of animal welfare engagement activities of the Dutch banking groups 9 Credit per banking group, per selected company (in € million) ....................... 10 Credit per value segment, per selected company (in € million) ...................... 11 Investments per Banking group, per selected company (in € million) ............. 12 Analysis of relevant investment categories for ABN Amro (in € billion) .......... 14 Credit of ABN Amro to the selected companies, per value chain segment (in € million) ……………………………………………………………………………………………………………………..15 Investments of ABN Amro in the selected companies, per value chain segment (in € million) ........................................................................................................ 15 Analysis of relevant investment categories for Volksbank (in € billion) .......... 17 Analysis of relevant investment categories for ING (in € billion) ..................... 18 Credit of ING to the selected companies, per value chain segment (in € million)18 Investments of ING in the selected companies, per value chain segment (in € million) .................................................................................................................... 19 Analysis of relevant investment categories for NIBC (in € billion) ................... 20 Credit of NIBC to the selected companies, per value chain segment (in € million) 21 Analysis of relevant investment categories for Rabobank (in € billion) ........... 22 Credit of Rabobank banks to the selected companies, per value chain segment (in € million) ........................................................................................................ 22 Analysis of relevant investment categories for Triodos (in € billion) ............... 24 Analysis of relevant investment categories for Van Lanschot Kempen (in € billion) 25 Investment of Van Lanschot Kempen in the selected companies, per value chain segment (in € million) ................................................................................... 26 Selected chicken meat companies ................................................................. 30 Selected pig meat companies........................................................................ 31 Selected food retailers .................................................................................. 32 Selected restaurant companies ..................................................................... 32 Policy assessment of selected companies ...................................................... 33 Samenvatting Dit onderzoeksrapport is een vervolg op het praktijkonderzoek 'Risking Animal Welfare', gepubliceerd door de Eerlijke Bankwijzer, in februari 2018. Het doel van dit praktijkonderzoek is onderzoek naar de financiële relaties van zevenNederlandse bankgroepen met een selectie van bedrijven in de waardeketens van kippen- en varkensvlees, waaronder vleesproducenten, verwerkers/slachterijen, supermarktketens en restaurantketens. Ten tweede wordt in dit praktijkonderzoek onderzocht of de banken engagementactiviteiten ondernemen met deze bedrijven over het thema dierenwelzijn. Afhankelijk van de resultaten van dit onderzoek krijgen de bankgroepen een rode, oranje of groene vlag voor de wijze waarop ze via engagementactiviteiten dierenwelzijnsrisico's beheersen die verbonden zijn met bedrijven die zij financieren of waarin ze investeren. Dit praktijkonderzoek richt zich op de zeven banken onder de Dutch Fair Bank Guide, namelijk: 1. ABN Amro 2. De Volksbank 3. ING 4. NIBC 5. Rabobank 6. Triodos 7. Van Lanschot Kempen Voor de 28 geselecteerde bedrijven werden kredietverlening en beleggingen in
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