Rabobank Australia
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OVERALL |
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Owned |
NLD |
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N/A |
Banking and financial services
Specialises in providing corporate financial services to the food and agribusiness sectors in Australia and New Zealand.
Company Ownership
Rabobank Australia Ltd | AUS | website | ||||
Rabobank Group
owns 100% of Rabobank Australia Ltd |
NLD | website | ||||
Banking and financial services Rabobank Group is owned by its member banks. Food and agribusiness is the prime international focus of the Rabobank Group. |
Company Assessment
PRAISE | CRITICISM | INFORMATION | ||
Rabobank Australia Ltd | ||||
Banks play a critical role in enabling and sustaining fossil fuel projects. This bank has no current record of funding fossil fuels and has provided a position statement: "Rabobank finances the sustainable development of the food & fibre industry and as a global Food & Agriculture bank, the fossil fuel industry is not relevant for us. As such, Rabobank Australia & New Zealand does not finance the primary production of fossil fuels and has communicated in a number of cases our concerns about exploring unconventional fuels such as CSG, Shale Gas and Tar Sands."
Source: Market Forces (2016) |
According to the democracyforsale.net website, this company donated $72,256 to Australia's major political parties between 2012 and 2018, as disclosed to the Australian Electoral Commision (AEC).
Source: Democracy For Sale (2018) |
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Rabobank Group | ||||
In 2023, the Carbon Disclosure Project (CDP) asked companies to provide data about their efforts to reduce greenhouse gas emissions and mitigate climate change risk. Responding companies are scored across four key areas: disclosure; awareness; management; and leadership. This company received a CDP Climate Change score of B.
Source: CDP (2023) |
In 2013 Rabobank agreed to pay $1bn to US, UK and Dutch authorities and admitted that dozens of employees manipulated Libor and other key benchmark interest rates over six years. Benchmark interest rates are used globally to set the price of everything from credit card fees to corporate loans.
Source: Financial Times (2013)
The 2021 report "Banking on Climate Chaos" analyses the world's 60 largest banks and their financing of tar sands oil, Arctic oil, offshore oil and gas, LNG, coal mining, and coal-fired power between 2016 and 2020. This bank invested US$8.2 billion between 2016 and 2020, making it the world's 51st worst fossil fuel funder.
Source: RAN (2021)
Fair Finance Guide International's 2015 report about transparency and accountability in the Financial Sector assessed and scored banks on four key aspects: publication of policies and risk management; disclosure of investments; reporting on engagement with companies and voting behaviour; and stakeholder dialogue. The report also scored those banks on their transparency on tax-related issues, including the extent to which they provided detailed, country-by-country information on key indicators on transparency and tax. The report places assessed banks in three categories: leaders, followers and laggards. This bank scored 4.6/10 (Follower) on the Transparency and Accountability theme, and 2.9/10 (Laggard) on the Taxes and Corruption theme.
Source: Fair Finance Guide (2015) |
This bank appeared at #24 in a list of banks backing expansion in the tar sands. They have loaned US$44 million to companies operating in the Canadian tar sands since 2007, according to Bloomberg. Extracting oil from tar sands produces between 3 and 5 times the greenhouse gas pollution of conventional oil production, pollutes water, destroys forests, and uses huge amounts of energy to process. [Listed under Information due to age of report]
Source: RAN (2010)
As listed on the We Mean Business website, this company has committed to the following climate action initiatives: adopt a science-based emissions reduction target; responsible corporate engagement in climate policy; report climate change information in mainstream reports as a fiduciary duty;
Source: We Mean Business (2021)
This bank has endorsed the Green Bond Principles - a set of voluntary guidelines on the development and issuance of green bonds. Green Bonds enable capital-raising and investment for new and existing projects with environmental benefits.
Source: Ceres (2014)
This company is a member of the Global Roundtable for Sustainable Beef (GRSB), who's stated mission is to advance continuous improvement in sustainability of the global beef value chain through leadership, science and multi-stakeholder engagement and collaboration. However the GSRB has been criticised by a group of NGOs for its failure to address misuse of antibiotics and animal welfare concerns, among other things (http://bit.ly/1xWw5pV).
Source: GRSB (2017)
Green Bonds enable capital-raising and investment for new and existing projects with environmental benefits. The Green Bond Principles are voluntary process guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market by clarifying the approach for issuance of a Green Bond.
Source: IMCA (2018)
This company is a member of Bonsucro - Better Sugar Cane Initiative, a global non-profit, multi-stakeholder organisation fostering the sustainability of the sugarcane sector through its leading metric-based certification scheme and its support for continuous improvement for members.
Source: Bonsucro (2019)
In 2015 the Fair Finance Guide ranked the top financiers of selected fossil fuels companies (loans & underwriting) and compared it to their financing of renewable energy. This bank provided US$1.6 billion for fossil fuels and US$1.7 billion for renewable energy between 2009 and 2014.
Source: Fair Finance (2015)
Forest 500 identifies the 350 companies and 150 financial institutions with the greatest exposure to tropical deforestation risk, and annually assesses them on the strength and implementation of their deforestation and human rights commitments. This financial institution received a score of 47%.
Source: Forest 500 (2022)
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #41/400, with a total score of 28.6/100.
Source: World Benchmarking Alliance (2022)
This company is listed on the Facing Finance website as a financial institution which invests in companies that manufacture weapons or profit from violations of human rights, pollution, corruption, or international law. Follow link for further details.
Source: Facing Finance (2015)
BankTrack is a global network of civil society organisations and individuals tracking the operations of the banking sector and the activities they finance. BankTrack aims to promote fundamental changes in the banking sector so that banks adopt just and sustainable business practices. Follow the link to see this bank's profile.
Source: BankTrack (2018) |
Company Details
Type | Wholly-owned subsidiary |
Contact Details
Address | Sydney, NSW, Australia |
Phone | 1800 025 484 |
sydney.client.services@rabobank.com | |
Website | www.rabobank.com.au |