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ABN AMRO Sustainability Report 2014 3 ABN AMRO at a Glance

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ABN AMRO Sustainability Report 2014 3 ABN AMRO at a Glance Sustainability Report ABN AMRO Group N.V. 2014 ABN AMRO Group N.V. Sustainable Banking Gustav Mahlerlaan 10, 1082 PP Amsterdam P.O. Box 283, 1000 EA Amsterdam The Netherlands abnamro.com/sustainablebanking [email protected] table of contents ABN AMRO at a glance 2 Using our financial expertise for the benefit of society 25 Chairman’s message 4 Partner of the Future 26 Sustainability strategy 6 Social entrepreneurship 27 Sharing sector-specific knowledge 28 ABN AMRO value chain 8 Materiality 9 Sustainable finance Stakeholder engagement 10 Governance 10 and investment services 30 Ethics and integrity 12 Policy framework 30 Sustainable financing 32 Sustainable business operations 14 Sustainable investment 35 Compliance with national and international Sustainable banking products and services 37 legislation and regulations 14 Workforce diversity and inclusion 16 Appendices 40 Employee health and safety 18 Independent Auditor’s Assurance Report 40 Our organisation’s environmental impact 18 Basis for reporting 42 Stakeholder dialogue 43 Clients’ interests centre stage Objectives and performance in 2014 56 and sustainable relationships 21 Glossary 59 The privacy of clients’ financial transactions 22 The security of clients’ financial transactions 22 The stability of our digital services 23 Mortgage policy 24 Inspire and engage our people The Green Quest 20 ABN AMRO Foundation 29 Implementing the Banker’s Oath 24 We Sustain 38 ABN AMRO at a glance 2 ABN AMRO at a glance ABN AMRO at a glance About ABN AMRO With a long-standing history in banking and roots that ABN AMRO offers retail, private and corporate banking go back for centuries, ABN AMRO emerged from the clients an extensive range of products and services. financial crisis as a leading Dutch bank. Our business Our in-depth financial expertise, wide-ranging knowledge profile and international footprint have changed while of many industries, and our international network underpin our historic roots remain. We seek to respond to the the bank’s national and international activities. We have evolving market and hence also to the changing needs a strong position in the Netherlands in all our business of our clients, approaching them fairly and openly, learning activities and we follow our corporate and private banking from our experiences and understanding the importance clients in their activities abroad. Internationally, we are of delivering optimum service. active in selected markets with a focus on private banking and a variety of specialist areas in which we have extensive Our strategic priorities expertise, such as Energy, Commodities & Transportation ABN AMRO’s strategy relies on five priorities with targets (ECT) and Clearing. set for 2017. One of our strategic priorities is to invest in our future. Enhance client centricity Improve profitability Invest in our future Å Recognised as a Top Class Employer strategic Å Re-engineering the IT landscape and optimising processes priorities Invest in our future Å Positively recognised on sustainability Pursue and transparency selective international growth Strongly commit to a moderate risk profile Sustainability strategy Sustainable business operations Clients’ interests centre stage and sustainable relationships Better bank Better world Inspire and Using our financial expertise for the benefit of society engage A better bank our people contributing to Sustainable finance a better world and investment services ABN AMRO Sustainability Report 2014 3 ABN AMRO at a glance Operations Maintaining a moderate risk profile, upholding high ethical Employee Percentage of women Reduction of energy and integrity standards and -7% absenteeism in senior management consumption since 2012 further embedding sound and since 2013 positions reliable corporate governance in our organisation. 3.27% 20% 31% Clients Client centricity is becoming firmly embedded in our corporate Total number of client Net losses due to phishing Availability of culture. In 2014 we introduced a complaints about privacy and malware since 2013 our digital services number of initiatives designed to further serve our clients’ interests. 50 -34% 99.44% Society We actively find ways to offer our financial expertise to society, with Times employees volunteered Number of social Percentage of clients a focus on three areas: facilitating for the community entrepeneurs receiving recognising the sector focus coaching in services offered talent, social entrepreneurship and sharing sector-specific knowledge. 11,811 40 88% Services The biggest contribution we Sustainable assets under ESG criteria for Number of cases explicitly make to society is increasing the administration in EUR millions all investments focused on human rights sustainability of our finance and investment services and offering sustainable products and services. 5,399 167 ABN AMRO Sustainability Report 2014 Chairman’s message 4 Chairman’s message Chairman’s message Chairman’s Gerrit Zalm Chairman of the Managing Board “ Our commitment to being a good corporate citizen and contributing to a better world stems from our own sense of responsibility and from our duty to help restore trust in the financial sector.” ABN AMRO Sustainability Report 2014 5 Chairman’s message Chairman’s message Chairman’s chairman’s message Chairman’s message I am pleased to present the ABN AMRO Sustainability Report for 2014. As you can read in this report, we have once again made strides in conducting business in a responsible, sustainable manner. Our commitment to being a good corporate citizen and contributing to a better world stems from our own sense of responsibility and from our duty to help restore trust in the financial sector. Our business at ABN AMRO has an impact on people, industry This past year we implemented a set of self-imposed and society. As such, we devoted 2014 to defining the issues rules (Binding Corporate Rules), which we drew up in of material importance to our stakeholders and taking key consultation with the Dutch Data Protection Authority. decisions to help us achieve our aim: to be positively recognised for our position on sustainability and transparency. We strive to use our financial expertise for the benefit of In striving to achieve this goal, we are guided by our society. This commitment is reflected in the programme sustainability strategy, which consists of four key elements: under which we offer financial coaches to Qredits, the Å We pursue sustainable business operations only micro-financing organisation in the Netherlands. Å We put our clients’ interests centre stage and build Qredits helps start-ups and other businesses by providing sustainable relationships personal coaching and business loans. Å We use our financial expertise for the benefit of society Å We finance and invest for clients in a sustainable manner Our offering of sustainable finance and investment services is growing steadily. This past year, we decided to integrate An inspired and engaged workforce is vital to the success environmental, social and governance (ESG) factors into all of our strategy. To this end, we promote sustainability of our investment advice as from mid-2015. In addition to internally and encourage our staff to get involved. Our our existing sector policies, we also introduced sustainability efforts are clearly paying off: the score for sustainability criteria into our credit application policies for the energy, in the Employee Engagement Survey for 2014 rose real estate and manufacturing sectors. from 45% to 61%, and we hope to increase it further. Looking ahead, we will continue to implement the We focused on our own business operations in various performance metrics and targets we have set as we put areas. For example, we enhanced the transparency of our sustainability strategy into practice. This will enable our tax policy for internationally operating companies by us to report on our progress in an increasingly concrete publishing our tax principles on the ABN AMRO website. and transparent manner. We also participated in The Green Quest, an initiative aimed at creating ways to conduct our business Read on to discover the various initiatives we have operations sustainably and we continued to endorse taken this past year, the progress we have made and international standards such as the UN Global Compact. our plans to address the issues that are of material importance to our stakeholders. We welcome your As part of our drive to put our clients’ interests first, we feedback and suggestions. Please feel free to email us continuously invest in our systems in order to further optimise at [email protected]. the security of our payment services. We treat our clients’ data with strict confidentiality and do not make this Gerrit Zalm information available to third parties for commercial reasons. Chairman of the Managing Board ABN AMRO Sustainability Report 2014 Sustainability strategy 6 Sustainability strategy strategy Sustainability strategy Strategy Banks play a key role in facilitating business and therefore have a great responsibility in shaping and ensuring the sustainable development of business in the future. For ABN AMRO, that means doing business responsibly, putting our clients’ interests centre stage and addressing the risks related to climate change, human rights, and the shortage of natural resources. Sustainable business operations Clients’ interests centre stage and sustainable relationships Better bank Better world Inspire and Using our financial expertise for the benefit of society engage
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