ABN AMRO Belgium: “Achieving sustainability through the courage of our convictions”

Unlike in the Netherlands, where ABN AMRO is widely known among consumers, the bank’s Belgian entity focuses mainly on asset management (private banking) and business services with over EUR 6 billion in assets under management.

Solange says ABN AMRO Belgium will obviously have the biggest impact if it focuses on these activities. “Of course, we drive electric cars and are making our premises sustainable. But with only eight offices in all of Belgium, we’re not exactly a big polluter. The real way we can make strides is by helping our clients become more sustainable.”

Positive energy

And that’s exactly why ABN AMRO Belgium is supporting its business clients in making their operations more sustainable. The bank has also entered into a partnership with the Vlerick Business School to enable companies to quantify the impact of the sustainability measures they’ve introduced. Further, the bank has partnered with the non-profit organisation Ashoka to launch a training programme for social entrepreneurs, supporting them in all aspects of entrepreneurship to help them accomplish their social mission.

Solange continues, “We’re giving entrepreneurs a chance to develop expertise and increase their impact on society. All these initiatives have given us and our clients a shot in the arm – a real boost of positive energy.”

A sustainable investment mandate

ABN AMRO ensures that the capital of high-net-worth individuals is invested sustainably wherever possible in accordance with a new sustainable investment mandate. These investments have a positive impact on people and the planet. Clients receive reports on the sustainability impact of their investments, giving them an overview of the return generated and the effects their assets have on society.

ABN AMRO recently teamed up with Oxford University to develop a training course on ESG (environmental , social & governance) and impact investing. All the bank’s private bankers and advisers have now completed the programme, which helps them better engage with clients when discussing sustainability and their assets.

Solange says, “We’re seeing that more and more of our clients set great store by the impact their assets have. The training has equipped us to better help our clients make the right choices to suit their needs and goals.” And the figures bear this out, she says: “When we started out with ESG investment, we had EUR 40 million worth of ESG assets under management. That’s now EUR 1.6 billion. Currently, 27 percent of all our clients’ invested assets are in ESG and impact products and services. That rate will have grown to 29 percent by the end of the year, and to 50 percent by 2026.”

Profitability and sustainability

When it comes to sustainability, Solange says Belgium is playing catch-up. The floods in 2021 and last summer’s drought have done much to raise awareness of the climate crisis. Solange continues, “There has to be a transition, and that takes capital. So the bank is stepping up and doing its bit. There’s a growing realisation that profitability and sustainability have to go hand in hand.”

Although pleased at the progress made so far, Solange says, “We’re not there yet. Ultimately, we aim to make our entire investment and credit portfolio sustainable. But we still have a long way to go. Not to mention the increase in new regulations we’re facing. That’s a good thing, of course, but we should guard against being concerned with following rules to the exclusion of all else. I think it’s important that we continue this work based on the courage of our convictions. It’s only then that we’ll seize opportunities for a sustainable future.”