Where possible, we link up climate measures to our standard financial product offering. Examples include the credit card with climate compensation and the climate mortgage.
Rabocard with climate compensation
In 2007 Rabobank launched a credit card with climate compensation in collaboration with WNF, the Dutch chapter of the World Wide Fund for Nature. Customer surveys have shown that consumers are willing to do their part to stop climate change. The Rabocard allows 1.1 million Rabobank customers to do just that. A specially developed and by Ecofys tested calculation method converts the total CO2 emissions caused by customer purchases into a monetary amount, which we will invest mainly in renewable energy projects that comply with the Gold Standard. This quality standard was instituted, by the WWF, among other organisations, for renewable energy and energy-saving projects (solar and wind energy, hydropower and biomass), contributing to reducing CO2 emissions, mostly in developing countries. These projects are highly demanding in terms of environmental requirements, and guidelines for biodiversity and local development.
Client information on our Rabocard with climate compensation
Johan van de Gronden, managing director of WNF, the Dutch chapter of WWF
"A year after its launch, one million customers use the Rabocard credit card with climate compensation. This is an unprecedented result. The picture of a panda on the Rabocard triggers people's interest, the word climate indicates the cause, and there we go: we have created awareness and all those credit card holders are truly contributing to combating climate change. Obviously, it was not only crucial that Rabobank issued such a card to every card holder, but also that it communicated with them about the use of the card in a personal letter.
The times are in our favour: interest in our climate is larger than ever. But at the same time, there is a risk of overexposure, simply because media attention for the problems that we face is overwhelming. The effects of climate change are so universal that people can start to feel powerless. And that's exactly what WWF wants to prevent. The answer lies in offering perspectives, which we try to do, for instance, by forging partnerships with businesses. We take small steps ahead, with large groups of people.
The introduction of the credit card with climate compensation hardly qualifies as a small step: with it, Rabobank has helped WNF take a giant leap forward. That's why we're not surprised that both our donors and our business partners selected Rabobank as WNF partner of the year. On behalf of all those credit card holders, Rabobank invests in energy projects, mainly in developing countries. These are projects that we have awarded the 'Gold Standard' label. And results count, of course. They have to be visible. Fortunately, there are some examples already: computers at a school in India because electricity is now generated locally. No more gathering wood every day for hours on end thanks to a biogas installation. This makes a huge difference for people who are severely affected by climate change whilst their own limited consumption habits are hardly to blame for the problems. These projects have given us a taste for more."