ABN AMRO Human Rights Report 2018
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Putting people centre stage ABN AMRO Group N.V. Human Rights Report 2018 1 Preface On a cold December day in Paris in 1948, representatives Where workers are free to join unions and bargain Collaboration, underpinned by a shared courage of from all across the world drafted the Universal Declaration collectively, where peoples’ land rights do not get conviction, is the common thread throughout the of Human Rights. In human history terms, this was a trumped because they live in an area with a wealth initiatives and programmes we describe in our report. monumental occasion. Not only because this declaration of natural resources, and where citizens’ rights to No single entity can do this alone. We all have a role recognised the rights of all the citizens of this planet, privacy and health are respected and upheld by all. to play. Colleagues, together with business partners, but also because people from various backgrounds, NGOs, suppliers and clients have worked to make both professionally and culturally, worked tirelessly This report, ABN AMRO’s second Human Rights Report, our aspirations a reality and indeed to stretch our together for the greater good of humanity. The greater outlines our standards and our programmes in relation own ambitions even further. good of our planet. to human rights. It details the impact we are making as a bank internally through our own policies, procedures “I am proud of the steps we are taking, but At ABN AMRO we believe we have a role to play in and partnerships, as well as the progress we are making mindful of the fact that the path from theory fulfilling the goals, sentiments and principles as outlined in advocating for human rights in the business community. in the declaration. Our bank was founded on the belief to practice is long and not without setbacks.” that a bank exists to support and empower people. I am proud of the steps we are taking, but mindful For this reason, we naturally aspire to continuously of the fact that the path from theory to practice is long At ABN AMRO we take our role and responsibility very use our influence, knowledge and networks to honour and not without setbacks. While so much more needs seriously. We need to work together, stay committed the Declaration of Human Rights as laid out just over to be done to protect human rights, I am hopeful. and be relentless in our application of human rights. 70 years ago. Since 2011, companies are supported This optimism is largely driven by the collaboration We believe we are making meaningful progress. in their efforts by the UN Guiding Principles on Business we have seen and experienced both inside and We hope you agree. and Human Rights. They serve as the normative outside our bank. Our partnership to identify human foundation for ABN AMRO’s own human rights trafficking has led to concrete investigations and sparked Kees van Dijkhuizen programme, and set the standard for what we expect the interest of other banks who are eager to use our Chief Executive Officer of ABN AMRO Group N.V. from our clients, suppliers and other business partners. knowledge. ‘Banking for better for generations to come’ is how we The Dutch Banking Sector Agreement on Human Rights is have defined our role and reason for being. We want recognised globally as a multi-stakeholder initiative that future generations to be born into a world where can drive meaningful change. And more and more banks discrimination and inequality exist only in history books. are reporting transparently on their efforts in this area using the UN Guiding Principles Reporting Framework. 2 Contents 4 14 24 32 44 Our path from Our role as Our role Our role Our role as an investment theory to practice a service provider as an employer as a lender services provider 6 Introduction 14 Treating client data with care 24 Respecting international 32 Embedding human rights 44 Accelerating the labour rights in our policies sustainability shift 8 Governance 17 Equal access to financial services 28 Workplace equality 36 Spotting human rights risks 48 Driving respect for human 10 Our salient issues rights in the investment 17 People with debt problems 28 LGBT+ employees 41 Opportunities for 12 Our roles positive impact ecosystem 20 Elderly people needing 30 People from non-Western 51 Diversifying our engagements financial assistance backgrounds 43 Remediating negative impacts 21 NGOs with restricted access 31 People with disabilities to financial services 23 Listening to our clients 3 52 56 64 68 Dialogue and The bank as engagement a driver of change Future steps References 53 Addressing human rights impacts 57 Joining forces to identify 64 Refining our salient issues 68 The UNGP Reporting Framework Index in the palm oil sector human trafficking 65 From risk to leverage 70 List of abbreviations & General 54 Our engagement process 58 The bank speaks out about an LGBT+ background information 66 Working towards a human rights court case in Hong Kong 55 Overview of ESG engagements grievance mechanism 71 Organisations mentioned in the report 59 Important political breakthroughs for people with disabilities 60 Banks unite behind Responsible Ship Recycling Standards 61 Sharing takeaways on the exclusion of tobacco with other financial institutions 62 Our human rights programme (2011 - 2018) Our path from theory to practice 4 Our path from theory to practice Our path from theory to practice A common misunderstanding about banks is that everything revolves around balance sheets, liquidity ratios and interest rates. In fact, banking is about people. Now and in the future. That is why we want to bank for better, for generations to come. Putting people centre stage Individuals and People who work Employees of, and Local communities families with for ABN AMRO. workers in the affected by bank accounts, Our own employees supply chains of our our clients and mortgages and other and workers in our corporate clients and companies in our financial products supply chains at companies in our investment universe investment universe 5 Over 5 million individuals and families bank with us Tens of thousands of people work for ABN AMRO, either directly or indirectly Banking is about people Millions of people work for our clients and companies in our investment universe And countless people live in communities affected by our clients and companies in our investment universe So it is imperative that we look at all our activities from a human rights perspective Introduction 6 Our path from theory to practice / Introduction Introduction Respecting human rights: as a film screening and panel discussion on the from theory to practice occasion of International Human Rights Day. Human rights are not goals that – one day – will be We take the lead in initiating practical forms of fulfilled and will need no further attention. Similarly, cooperation such as the Responsible Ship a human rights report is not the outcome of a final Recycling Standards, we have set up a Dutch and completed process of identifying and human rights practitioners working group managing human rights risks. In this report, we and facilitated dialogue in the financial sector on explain the steps that ABN AMRO has taken over the exclusion of tobacco companies from lending the past two years towards respecting human and investment services. Sometimes, ABN AMRO rights. The report shows how we move from can use its leverage to accelerate change beyond theory – the UN Guiding Principles on Business the financial sector, such as when we joined the and Human Rights – to practice. On this path we political lobby for equal employment opportunities learn many things that we do not want to keep to for people with disabilities. After all, taking ourselves. Our annual International Human Rights responsibility to respect human rights is not Conference is a forum where we share our something that companies can do in isolation. experiences and engage with human rights experts To illustrate our path from theory to practice and in the financial sector as well as with many other our efforts to embed respect for human rights stakeholders. We also organise human rights more firmly in society at large, we have included a events in our offices outside the Netherlands. In section in this report that highlights five examples Singapore, for example, we organised events such of where the bank acts as a driver of change. 7 About this report Some of these questions are more challenging than We invite your feedback This second Human Rights Report builds on earlier others. This report refers to many concrete initiatives and If you have any questions or comments publications such as the 2015 Human Rights Guide, programmes, some of which have been completed and about this report, please send an email the 2016 Human Rights Report and the 2017 Update. some of which are still in progress. Many are long-term to [email protected]. We explain the progress we have made over the past initiatives, and some are complex projects on which we two years in addressing our salient human rights issues. are only making slow, gradual progress. Our goal is to For this purpose, we use the UN Guiding Principles present a balanced picture of all our human rights efforts, Reporting Framework, which asks questions like: success stories and challenging issues alike. Å What are the company’s policies to address its salient human rights issues? We recognise that many of our stakeholders would like Å What is the company’s approach to engagement us to be more transparent, and disclose what we do, with stakeholders? for example, when it turns out that one of the bank’s Å What trends, patterns or particularly severe impacts corporate clients is involved in forced labour.