Investment funds offered by ABN AMRO, ING and Rabobank: not as sustainable as they claim

Do you invest in funds offered by ABN AMRO, ING and Rabobank? Then they have not told you that you might be investing in the destruction of the rainforest. This was revealed by new research by SOMO, commissioned by Milieudefensie.

Private investors have been unknowingly and unwittingly investing in deforestation for years. By investing in funds offered by ABN AMRO, ING and Rabobank, they are filling the coffers of controversial palm oil companies, without being informed about it by their bank. In total the three banks offer 158 funds that include shares in palm oil companies.

The campaign video 'Rabobank, stop destroying the world', which was released together with this report
The funds include dozens of palm oil companies. Some of the funds have even received the 'sustainable' label. The funds include companies that are far from satisfying the sustainability policy for palm oil that the banks adopt. The banks will not conduct business with these companies themselves but they are willing to offer these companies in funds to their private investors. As a result, investors are investing in companies that destroy the rainforest, steal land from the local population and violate human rights.

Milieudefensie wants the government to restrict this proliferation of sustainable claims and controversial investments. Furthermore, they call upon the immediate withdrawal of the banks from the industrial palm oil industry.

Kappen oerwoud t.b.v. sojateelt en palmolieplantages. Indonesië. Photograph by Kemal Jufri

Do you want a quick overview of the findings of this report? Read it here

Download publication
Investment funds offered by ABN AMRO, ING and Rabobank not as sustainable as they claim.pdf — 688 KB