ABN AMRO

ABN AMRO Bank N.V.
Quick Facts
Type	Public
sector	Financial Services
Headquarters (Benelux Organization)	Amsterdam, Netherlands
Year of Origin	1991
Emissions (All Scopes)	26,3 Megatons of CO2 (2021)
Net Income	EUR 2,325 billion (2020)
Key People	Robert Swaak (Chairman and CEO), Lars Kramer (CFO)
Subsidiaries	Retail Banking ABN AMRO Hypotheken Groep ABN AMRO Verzekeringen ABN AMRO Pensions ALFAM International Card Services Moneyou Private Banking Banque Neuflize OBC Bethmann Bank Corporate Banking ABN AMRO Clearing ABN AMRO Commercial Finance ABN AMRO Lease Group Functions ABN AMRO Funding USA LLC Stater Beter

ABN AMRO Bank N.V., stylized as ABN AMRO, the third-largest bank of the Netherlands, has its headquarters in Amsterdam . It was established during the financial crisis of 2007 through a merger of the former Fortis Bank Nederland and former ABN AMRO Holding N.V. In 2015, ABN AMRO was publicly re-listed through an initial public offering (IPO) by the Dutch government. In 2021, ABN AMRO had a total of 19,957 employees (FTEs) worldwide, with 16,925 of that number employed in The Netherlands . The banking company has 24 offices in the Netherlands and is active on 5 continents. Their current stock market value is 10.4 billion EUR and they have over 5 million accounts.

Company Structure

ABN AMRO works with two boards, the Executive Board and the Supervisory Board. The Executive Board is the statutory managing board and is responsible for (i) the general course of business of ABN AMRO, ensuring compliance with laws and regulations and the adequate financing of its activities; (ii) the continuity of ABN AMRO and its business, aimed at long-term value creation for ABN AMRO and taking into account interests of stakeholders, and (iii) setting ABN AMRO's mission, vision, strategy, risk appetite, corporate standards and values, risk framework, main policies, budgets, financial and non-financial targets, and for the realization thereof . The Supervisory Board, on the other hand, supervises, advises, challenges and supports the Executive Board in the exercise of its power and duties. Together with the Executive Board, the Supervisory Board is responsible for ABN AMRO's long-term value creation, requiring members to execute their duties in a sustainable manner with due observance of the long-term viability of the strategy being pursued .

Executive Board

Executive Board

Name	Function	Remuneration x1000EUR
Robbert Swaak	Chairman and Chief Executive Officer (CEO)	770.618
Christian Bornfeld	Vice Chairman and Chief Innovation & Technology Officer	654.159
Tanja Cuppen	Chief Risk Officer	654.159
Dan Dorner	Chief Commercial Officer Corporate Banking	654.159
Choy van der Hooft-Cheong	Chief Commercial Officer Wealth Management	654.159
Lars Kramer	Chief Financial Officer	654.159
Gerard Penning	Chief Human Resources Officer	654.159
Annerie Vreugdenhil	Chief Commercial Officer Personal & Business Banking	654.159

The remuneration includes only the fixed base salary, as determined for the period from 1 July 2021 to 1 January 2022, and excludes benefits such as pension-related contributions, compensation for lease car expenses, and other short-term benefits or bonusses .

Supervisory Board

Supervisory Board

Name	Function	Remuneration x1000EUR
Tom de Swaan	Chairman	99.011
Arjen Dorland	Vice-Chairman	82.955
Laetitia Griffith	Member	80.279
Michiel Lap	Member	80.279
Anna Storåkers	Member	80.279
Mariken Tannemaat	Member	80.279
Tjalling Tiemstra	Member	82.955

Remuneration for Supervisory Board members has been determined as such for the period from 1 July 2021 until 1 January 2022 :

• Membership of the Supervisory Board: EUR 53,519 (EUR 69,575 for the Chair)
• Membership of a Committee: EUR 13,380 (EUR 16,056 for the Chair)

The remuneration for Supervisory Board committee membership is limited to two committee memberships.

Accountant

The independent auditors of ABN AMRO are KPMG and Ernst & Young Accountants LLP (EY) .

Main Activities

ABN AMRO's business performance is made up of Retail Banking, Commercial Banking, Private Banking, Corporate & Institutional Banking, and Group Functions. ABN AMRO sells shares on the public stock market for around 12-13 EUR. Most of these shares, 50.1% of the total, are held by Stichting Administratiekantoor Continuïnteit ABN AMRO Bank (STAK AAB), the rest of the shares, 469.1 million, are held directly by NL Financial Investments (NFLI). ABN AMRO itself has not received NOW support but invests fraudulent cases regarding these subsidies.

Government

ABN AMRO does not have royal status . ABN AMRO has not received NOW support from the Dutch government .

Paris Agreement to Today

(Beschrijving van wat het bedrijf heeft gedaan en misdaan sinds het akkoord van Parijs.)

ABN AMRO was the first bank in Europe to issue a Certified Climate Bond. The bond proceeds will be used to finance loans related to residential and commercial buildings that meet certain energy-efficiency or low-carbon criteria. In April 2018, they were the first issuer of a Certified Climate Bond that uses the new Marine Renewable Energy criteria. This bond supports 4 offshore wind farms in the North Sea.

As of March 2018, ABN AMRO had a share of USD 168 million in Royal Dutch Shell. Over the period January 2016 - September 2021, ABN AMRO provided a corporate loan of USD 196 million to Cambo oil field.

In the period 2018-2020, ABN AMRO provided EUR 1.6 billion in bank loans and underwriting to fossil fuels. Over that period, ABN AMRO increased the proportion of renewable energy in its energy sector credits from 31% to 48%. At the end of 2020, ABN AMRO had 234 million euros invested in energy, with a share of 71% in fossil fuels, and 29% in renewables.

Financial Results since 2015

Financial situation ABN AMRO

Year	Revenue	Profit	Dividend
2015	8,455 billion EUR	1,919 billion EUR	0,761 billion EUR
2016	8,227 billion EUR	1,805 billion EUR	0,789 billion EUR
2017	9,290 billion EUR	2,721 billion EUR	1,363 billion EUR
2018	9,093 billion EUR	2,207 billion EUR	1,363 billion EUR
2019	8,605 billion EUR	2,046 billion EUR	1,203 billion EUR
2020	7,916 billion EUR	(-)0,045 billion EUR	0 billion EUR*
2021	7,597 billion EUR	1,231 billion EUR	0,573 billion EUR

• In response to the exceptional and challenging circumstances of COVID-19 and the net loss recorded in 2020, the European Central Bank (ECB) recommended temporary suspension of all cash dividends and share buybacks in March 2020 .

Dakota Access Pipeline

In 2016, a year after the Paris Agreement, ABN AMRO made an investment of 45 million US Dollars in Energy Transfer Equity (ETE), who financed the Dakota Access Pipeline . Forbes reported that, after the pipeline's first year of operation, it was transporting over 79,000 m3 of oil per day and had already transported 29.02 million m3 of oil . Besides the detrimental effects on the climate, the pipeline flows directly underneath the Missouri River - threatening the water source of many Americans - and crosses territories of indigenous nations, such as the Lakota Treaty Territory and Standing Rock Sioux Reservation, - infringing on their rights as native people . Following this, the planned construction of the Dakota Access Pipeline became subject to numerous protests for indigenous rights and climate change activism . In a press release published on February 2nd 2017, ABN AMRO stated that they will stop the financing of Energy Transfer Equity (ETE), one of the companies responsible for the construction of the controversial oil pipeline. ETE is the mother company of Energy Transfer Partners (ETP), the company that was contacted to construct the pipeline .

Current Emissions

ABN AMRO says that its purpose is "Banking for better, for generations to come." To support this purpose, they have a bank-wide goal to bring their lending and client-investment portfolio in line with at least a well-below-2°C scenario and to support the transition to a net-zero economy by 2050.

ABN AMRO have been capturing and reporting the greenhouse-gas (GHG) emissions from their business operations for a number of years. The majority of their overall GHG footprint lies in their lending and client-investment portfolio (i.e., scope 3), and initially there was no consistent approach to capturing this information across the industry. To address this, in 2015 ABN AMRO partnered with 13 other Dutch financial institutions to launch the Partnership for Carbon Accounting Financials (PCAF). Since 2018, ABN AMRO used PCAF to disclose the emissions financed by their lending and investment portfolios across all asset classes on their balance sheet that currently have a methodology available (currently out-of-scope asset classes include consumer lending, institutions, central banks and governments).

Over 2021, ABN AMRO reported a total of 26,287 KtCO2e (kilo tonnes of carbon-dioxide equivalents) in GHG emissions in scope 3 (down from 41,179 KtCO2e in 2020). The vast majority of this, over 80%, are from corporate loans and non-listed equity. ABN AMRO further reported a total of 6.65 KtCO2e in scope 1&2 carbon emissions of their private-banking operations (down from 9.38 KtCO2e in 2020) .

Total emissions since 2015 ( in kilotonnes CO2-eq.)

Year	Scope 1	Scope 2	Scope 3	Total
2015	XXX	XXX	XXX	XXX
2016	XXX	XXX	XXX	XXX
2017	XXX	XXX	XXX	XXX
2018	12.39	1.92	30,257	30,271
2019	13.29	8.17	29,447	29,468
2020	5.98	3.40	41,170	41,179
2021	3.49	3.16	26,287	26,293

Climate Policies and Plans

ABN AMRO Investment Solutions (AAIS) consists of around 80 investment specialists who offer investment products and solutions to ABN AMRO's clients. Their Supervisory Board supervises the Managing Board, as well as the Group’s general course of affairs and its business. They released a Climate Statement, and together with ABN AMRO stated that their purpose “Banking for better, for generations to come” aligns with the Paris Agreement’s goals. They pledged to have all their buildings achieve at least Energy Label A by 2023 and to be Paris Proof by 2030. They also state that they are subject to the French Law on Energy Transition and Green Growth. Recently they adopted further regulations through the Law of No. 2019-1147 regarding Energy and Climate.

Conclusion

Beschrijving of de plannen in lijn zijn met 'Parijs'