How sustainable is ABN AMRO? Solange Rouschop, Chief Sustainability Officer, tells all.

• “Money can play a decisive role in a positive impact strategy. After all, it’s what you fund and invest that counts.”
• “People are innately creative and driving innovations in every sector. While we need to be careful to include everyone in the transition, speed is of the essence. Lots of things are happening, but not quickly enough.”
• “Rather than exclude companies, our approach is to support them in their transition and help them to achieve a positive economic impact.”
• “As a major bank, we bear a great deal of responsibility. That’s why we’re following a broad line of action on the transition, working together with our consumer and corporate clients to achieve a real impact and change in our economy.”

Also of interest

• How can you become more sustainable?

“Sustainability and decarbonisation are the most pressing issues we face right now. I believe our society and economy are currently in transition. It’s increasingly difficult to ignore the fact that our current economic growth model is no longer fit for purpose. Instead, we’re becoming more aware of the effects of our actions. How do you earn money and what impact does that have on society? How do your choices influence climate and biodiversity? Money can play a decisive role in a positive impact strategy. After all, it’s what you fund and invest that counts. That’s why I took on this role.”

“My ambition focuses on the bank’s social impact. As a bank, we want to make a meaningful contribution to climate change migration and adaptation, and pave the way to a nature-positive economy in which economic growth has a positive impact on biodiversity. We also want to play a part in building a just and inclusive economy. In the short term, I believe we should set our sights on achieving our decarbonisation targets, working together with clients to reduce and bring our carbon emissions into line with a 1.5°C scenario.”

“I’ll be in different meetings most days. I’ll sit down with my team to work on the bank’s climate strategy, and then head to a meeting with the Dutch Banking Association to discuss how we can improve our collaboration on climate issues. I’ll also have engagements with international stakeholders, such as the Net-Zero Banking Alliance, a group of leading global banks operating under one flag. They’re committed to decarbonising the global economy by seeking to achieve a net-zero loan portfolio by 2050.”

“I try to live as sustainably as I can: following a vegetarian diet, driving an EV, installing solar panels, using sustainable and circular materials to renovate my house and making sustainable investment decisions. But I’m far from perfect. I travel by plane, for instance, because I think it’s important for my children to see the world.”

“In an ideal world, our society should transition towards an economic model that creates growth and prosperity without producing carbon emissions. The best outcome would be a climate-neutral, nature-positive and just and inclusive economy that still delivers prosperity.”

“Social inclusion is crucial. Nobody should be left out of this transition, especially the people who don’t have the financial means to decarbonise their homes. Speed is of the essence. Lots of things are happening, but not quickly enough. While world leaders signed the Paris Climate Agreement and pledged to limit global warming to well under 2°C compared with pre-industrial levels, reports are painting a gloomy picture of progress so far. We really must accelerate efforts. International dynamics make that an incredibly complex task. There’s no ‘global ministry’ taking the lead, so we need to nurture dialogue about shared and individual goals and navigate the maze of power structures.”

“I’m impressed by many of them. People are innately creative. Just look at the developments in technology over the past years, with hydrogen, energy storage, modular timber construction, electric vehicles, shared mobility – I could go on. Innovation is happening in every sector. The financial industry is no exception. Some of the new products include loans that give borrowers an interest rate discount if they achieve pre-agreed sustainability targets.”

“I’ll start with a very basic explanation: major banks finance the real economy, so they play a role in every part of it. If your strategy excludes significant chunks of the economy, you can no longer call yourself a major bank. As ABN AMRO is a major bank, we bear a lot of responsibility. Sustainability and decarbonisation are part of the conversation for every product, every consumer client and corporate client, and every part of the bank. We’re talking sustainable mortgages or home improvement loans, sustainable investments or corporate finance, and much more.

We help companies through their energy transition. Rather than exclude them, our approach is to support them in achieving a positive economic impact. Take shipping, a sector facing huge challenges in its green transition. We’re helping companies to retrofit vessels and switch to alternative fuel. We’re also co-financing one of the world’s largest green steelworks, which emits 95% less carbon than conventional steelmaking.

If you’re a major bank, you need to take broad action in the transition to achieve a real impact and change in the economy.”

“The Board, a governance body, is made up of employees who are representative of future generations. They speak on behalf of people who aren’t yet born. Remember that carbon remains in the atmosphere for hundreds of years. Actions you take today have a long-term impact, so you need to think about them carefully. That forms part of every decision-making process at the bank.”

“There are many ways you can live sustainably. You could start by looking at your home, and an easy way to do that is our Energy Saving Check. This tool provides insight into ways you can make your home more sustainable, the grants available and how much you could save. Invest just a few minutes of your time, and you’ll have a complete, step-by-step plan of action.”