According to Greenpeace, Rabobank causes irreparable damage to the climate and the living environment. To compensate for this, according to the environmental organization, the bank should deposit more than three billion euros into the government’s nitrogen fund. With the money from that fund, the cabinet wants to make agriculture more sustainable in the coming years.
Calculations by Greenpeace show that between 2008 and 2022 intensive livestock farming has cost society more than 100 billion euros. Rabobank is held responsible for 3.14 percent of this damage. ‘This is the minimum amount that the bank should contribute to the nitrogen fund’, writes Greenpeace in its report. The actual amount of damage can be much higher. It is up to the government to calculate this.’
According to the environmental organization, Rabobank knew that this sector is harmful to the climate and nature. Nevertheless, the bank has actively invested in intensive livestock farming. The bank has thus played an active role in the nitrogen crisis, according to Greenpeace.
Agricultural agreement
Rabobank does not want to respond substantively to the claim. ‘We support the approach to the nitrogen problem, are involved in the agricultural agreement and are members of the so-called chain table. We believe it is important that the agricultural agreement is reached, in order to provide more clarity for the future of the agricultural sector. We are now fully focusing on those conversations,” a spokesperson told the FD.
Rabobank, like other banks, has been under fire from activists for some time. Milieudefensie and Extinction Rebellion have been targeting Rabobank for some time now. ING’s shareholders’ meeting was recently disrupted by activists. The same happened at the British Barclays and at Credit Suisse in Switzerland.
