ABN AMRO today releases its second Human Rights Report, underpinned by the reporting guidelines of the UN Guiding Principles on Business and Human Rights.
The 2018 report features ABN AMRO’s progress on the human rights that are most at risk through the bank’s activities and business relationships: discrimination, privacy, labour rights and land-related human rights. It also describes the human rights path the bank has been on since 2011 – from theory to practice. Human rights is one of the key focus areas of ABN AMRO’s sustainability policy.
A significant part of the report is dedicated to people in vulnerable positions, be it retail clients with debt issues or children labouring in the supply chains of companies the bank finances. In other words, this ranges from people known to the bank, such as its clients and employees, to large groups of people that are not in direct contact with the bank.
The report also highlights instances in which ABN AMRO leads the industry or society at large, a case in point being its close collaboration with the Inspectorate of the Dutch Ministry of Social Affairs and Employment and the University of Amsterdam to track down human trafficking by analysing financial data.
Kees van Dijkhuizen, CEO of ABN AMRO, comments: “I’m proud of the steps we are taking, but mindful of the fact that the path from theory to practice is long and not without setbacks. While so much more needs to be done to protect human rights, I am hopeful. This optimism is largely driven by the collaboration we have seen and experienced both inside and outside our bank.”
Collaboration on human rights is essential, and by joining forces with clients, trade unions, inspectorates, governments, NGOs, fellow banks and regulators the bank can bring solutions within reach faster and make its impact so much bigger. The report discusses a variety of collaborative initiatives that ABN AMRO has signed up to, both immediate success stories and projects that require a rather longer view for various reasons.
ABN AMRO released its first Human Rights Report in 2016, making it the first bank to report under the UN Guiding Principles Reporting Framework. The report won the bank the Crystal Prize’s innovation award for its transparent and vulnerable tone. In its 2017 update of its human rights programme, ABN AMRO showcased colleagues who deal with human rights as part of their day-to-day activities.
