In June 2007 Oxfam Novib published the results of a study into the involvement of four Dutch banks in the global weapon industry. In response to this, Rabobank held a meeting with Oxfam Novib to explain its code of conduct for the weapon industry. As a rule, we refuse to provide finance, although some exceptions apply: we do not finance the weapon industry unless strict assessment criteria are met. In any event, Rabobank does not finance the production of controversial weapons such as cluster bombs, land mines, biological weapons, chemical weapons or nuclear weapons.
We currently find ourselves facing a difficult dilemma. How are we to assess businesses that are themselves only partially involved in the controversial weapon industry, albeit often indirectly and to a very limited extent? A committee of internal experts was appointed at the end of 2007 to look into this matter, and it is expected to provide clarification in 2008.