New training helps private bankers talk about sustainability

With more and more clients interested in a rapidly growing range of sustainable products and services, how do we ensure our knowledge is up to date? ABN AMRO’s new comprehensive ESG & Sustainability Training gives private bankers the skills they need to talk about sustainability in more detail, a clear insight into the bank’s sustainable product offering and a deep awareness of how these products are relevant to the global transition. More than 1,400 employees of the client unit Wealth Management in the Netherlands, Germany, Belgium and France are benefiting from the training.

This in-depth course on sustainable banking is the brainchild of Andres Vargas Heredia and Martina Zhekova, both of whom work for ABN AMRO’s ESG & Sustainable Investing department. Collaborating extensively with colleagues from multiple teams in the four countries, Andres says they were pleasantly surprised by the diversity of ABN AMRO’s sustainable initiatives, as were the first participants to have completed the course. Their initial reactions confirm that a clearer understanding of all the options means being able to offer better service to clients.

Knowing your options

“ABN AMRO’s strategy is all about supporting the transition to a more sustainable economic model. And every one of the bank’s business units is working to make its products and services more sustainable,” says Andres. “From our own desks, it’s not always easy to get an overall picture of how colleagues elsewhere in the organisation are working on sustainability.” Martina adds, “The new training course teaches participants about all the latest sustainable investment and financing initiatives at the bank and how these meet clients’ needs. Knowing your options is so important, especially since developments are fast-paced and spread to all areas of the bank. They include everything from sustainable home mortgages, investment funds and initiatives for greening business premises to investments for building wind farms.”

Masterclass in Sustainable Finance

All the trainees start with the Masterclass in Sustainable Finance at the University of Amsterdam. Professors Paul Smeets and Aleksandar Andonov update them on international developments and the latest academic research on sustainable investing – from traditional investments to philanthropy. There’s also plenty of opportunity to discuss issues that participants face in their day-to-day work. Martina says, “A good case in point is how to respond when a client asks whether an investment in the defence industry can be sustainable.” Andres adds, “A good knowledge of sustainability also makes it easier to identify new sustainable developments in the future.”

Each client is different

Insight into the macro developments around sustainable investing also helps to contextualise the bank’s own sustainability vision and goals. That’s the focus of the second part of the course. Martina explains, “Trainees get to know the differences between sustainability products to determine whether a given product meets a particular client’s needs.” How, for instance, do you go about incorporating environmental, social and governance (ESG) factors into a client’s investment decisions? Andres says, “One client may wish to invest in companies committed to preserving biodiversity, while another wants to focus on protecting human rights and has questions about Chinese investments in their portfolio. A private banker may also be able to help an entrepreneur by telling them about the bank’s in-house expertise in managing ESG risks for their business – perhaps even on better financing terms.”

Inspiring clients

Finally, employees in direct contact with clients complete a third course component. “The emphasis here is on conversational techniques,” says Andres. “Using role playing and other exercises, experts from the sustainability consultancy firm Steward Redqueen teach participants to discuss sustainability more easily with clients. Once they’re better versed in the subject, they’re more comfortable initiating conversations about sustainability and helping clients move forward with new insights.”

A holistic approach

“What’s truly unique about the new course is its holistic approach,” Martina says. The trainees are exposed to the very latest scientific insights into sustainability and climate change, and learn how the bank’s vision and services go hand in hand with this. Developing a holistic approach was no mean feat, especially with a topic as diverse as sustainability. It was challenging to meet everyone’s needs, but I think that’s ultimately what has made the training so successful.”

Employees in the Netherlands and France will complete the training in the coming months. Those in Belgium and Germany have now finished the course. Martina says, “Many have told us they feel more engaged with the issue of sustainability since the training, and that’s helped them in discussions with clients. That’s obviously good news for clients – but it also means the bank is making even more of a positive social impact. As a bank, the best way to contribute to the sustainable transition is by knowing how to inspire our clients to invest in a sustainable way.”