press releases https://www.rabobank.com/Corporate/en/press/rss.html press releases en <![CDATA[20,000m2 artwork GROW by Daan Roosegaarde highlights the beauty of agriculture]]> https://www.rabobank.com/en/press/search/2021/20210118-20000-m2-artwork-grow-by-daan-roosegaarde-highlights-the-beauty-of-agriculture.html?utm_medium=RSS Daan Roosegaarde’s latest artwork GROW is an homage to the beauty and importance of agriculture. In the world film premiere GROW appears as a luminous dreamscape. Red and blue lights wash like waves over an enormous field surrounded by darkness. The artwork is part of the artist-in-residence program of Rabobank and premieres today. GROW is inspired by science exploring how certain “recipes” of light can improve plants’ growth and resilience.

Most of the time we hardly notice the huge areas of the Earth which are literally feeding us. GROW highlights the importance of innovation in the agriculture system: How can cutting-edge light design help plants to grow more sustainably? How can we make the farmer the hero? GROW is an artwork and a prototype of a more sustainable way of growing food. It shines specific light recipes to show and enhance the beauty of agriculture.

GROW consists of a design-based light recipe which shines vertically across 20,000m2 of farmland with leek plants (Allium porrum). You experience the artwork as “dancing lights” across the huge agricultural field. The light is poetic, and inspired by photobiology light science technologies which have shown that certain recipes of blue, red, and ultraviolet light can enhance plant growth and reduce the use of pesticides by up to 50%.

The film GROW shows the development of this luminous dreamscape and how the beauty of light can help plants. It is also a call for enlightenment during these dark times. GROW can be good for nature but also sends hopeful light to people. It gives a new meaning to the word ‘agri-culture’ by reframing the landscape as a living cultural artwork.

GROW is part of the artist-in-residence program that  Rabobank has been hosting for a number of years. The program is based on the belief that, through the open exchange of ideas, employees and artists can learn from each other and make a positive contribution to society.

Daan Roosegaarde and his team of designers and experts developed GROW over two years, informed by expert knowledge sessions at Studio Roosegaarde, Wageningen University & Research, Springtij Forum, and the World Economic Forum in Davos. It is the first in a series of dreamscapes by Studio Roosegaarde which show the beauty of combining art and science to create a better world.

Published: January 18 2021, 07:00 CET

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Press release Mon, 18 Jan 2021 07:00:00 GMT 288336
<![CDATA[Rabobank closes transactions with de-risking by AGRI3 Fund]]> https://www.rabobank.com/en/press/search/2020/20201221-agri3fund-transactions-derisking.html?utm_medium=RSS Rabobank, the bank specialized in financial solutions for agribusiness, in partnership with the AGRI3 Fund has just closed two transactions with de-risking by the fund. The AGRI3 Fund, initiated by UN Environment Programme (UNEP) and Rabobank, facilitates collaboration between public and private parties and aims to unlock USD 1 billion in capital to speed up investment in farms that pursue more sustainable practices, including forest protection and improving rural livelihoods.

Accelerating the transition to sustainable agriculture is a key facet of Rabobank’s mission, “Growing a better world together”. Prior to the new transactions with de-risking from the AGRI3 Fund this month, the bank conducted two pilot transactions in Brazil to develop a financial structure other clients could replicate for their sustainable initiatives.
 
“We are happy to announce now the closing of transactions with two of our clients,” says Hans Loth, Rabobank’s Global Head UNEP Partnership. “We want to help food producers worldwide make necessary improvements in sustainability. It is intended that these investments will serve as proof of concept to the wider community of banks, other financial institutions and value chain partners. Together with our partners at the AGRI3 Fund, we aim to expand the adoption of sustainable practices across agricultural and financial value chains.”
 
Brazil (USD 5 mln, 10 years)
Forest protection and renovation of degraded pastureland in Mato Grosso
 
By linking financing for pastureland renovation with forest protection, Rabobank and AGRI3 will make it possible for Grupo Carvalho Dias in Brazil to grow more sustainably. A new transaction provides financing for forest replanting, forest protection (2581 ha) and renovation of degraded pastureland (1200 ha) in line with recognized E&S guidelines, which will enable cattle growth without clearing new land. The goal is to increase profitability while accelerating compliance with Brazil’s strict Forest Code legislation. This innovative structure – which includes de-risking over a longer repayment period – offers a replicable model for financing next-level sustainable investments in non-cash-generating activities, like forest protection. 
 
Grupo Carvalho Dias sees the partnership as an opportunity for the sustainable development of its production in the long term. “We are committed to protect our forests as well as sustainably recover our pasturelands but we realized that we had a capital gap. We have found in AGRI3 the possibility to fill that gap and Rabobank was essential to conclude this transaction. From the beginning, the entire team went to great lengths to carry out this deal and we are very happy to be part of this exclusive and unique transaction in Brazil”, says Weslei Maio Ramos and Edson da Silva, Managers of the Grupo Carvalho Dias.
 
China (USD 10 mln, 3 years)
Sustainable pepper farming in the larger Chongqing region
 
In Chongqing municipality, many rural smallholder famers live in poverty, growing low-yield crops without much economic return. De-risking from the AGRI3 Fund will enable Rabobank to provide a loan to Chongqing Agricultural Chain Corporation Ltd., a large farm inputs company.
By providing access to financing, training and high-quality inputs and by selling at a guaranteed price, this loan helps to reach the project’s ambition to enable farmers to switch from poor yielding crops to more lucrative and sustainable pepper cultivation. This can increase the income up to 80,000 farmers.
 
The project also will work with CACC and partners to create a training program to encourage more sustainable practices amongst smallholders. In this transaction, Rabobank, AGRI3 and Chongqing Agricultural Chain Corporation Ltd. are teaming up to increase the company’s environmental and social standards, with an eye on developing a new quality standard for pepper growing in China. 
 
“We want to thank Rabobank and AGRI3 for supporting the ‘Poverty Alleviation’ program in Western China with this transaction“, says Tao Fugang, General Manager of Chongqing Agricultural Chain Corporation Ltd. “With joint support from Rabobank, local government and our company, farmers living in the vast mountainous areas of Southwestern China, who lack resources, advanced planting information and technology, are able to get access to modern planting technologies and concepts. This will enable them to change their planting habits and crops, and apply high-efficiency-low-residue agricultural inputs to achieve higher production and profit, and at the same time ensure the safety of themselves and the environment. This transaction is of great significance to us.” 
 
The Technical Assistance Facility of AGRI3 Fund supported making this deal “investment-ready” and is currently engaging with the client to offer support needed to fulfil the conditions of the deal and to maximize impact. 
 
About the AGRI3 Fund
The AGRI3 Fund is a partnership by Rabobank, UNEP, IDH, The Sustainable Trade Initiative and FMO. Investment Advisors are Mirova Althelia, FOUNT and Cardano Development. The Ministry of Foreign Affairs of the Netherlands is a donor of the AGRI3 Fund. 
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Press release Tue, 22 Dec 2020 10:00:00 GMT 288197
<![CDATA[Rabobank adheres to the new ECB recommendation on dividend distributions]]> https://www.rabobank.com/en/press/search/2020/20201221-rabobank-adheres-to-the-new-ecb-recommendation-on-dividend-distributions.html?utm_medium=RSS Rabobank will discuss with the ECB the prudence of any potential distributions in connection with Rabobank Certificates payable prior to September 30, 2021. This is in line with the ECB recommendation, as published on December 15, 2020. The discussions with the ECB could result in distributions that differ from the intended distributions according to the payment policy.

The ECB announced that significant credit institutions should consider not distributing any dividends or to limit such distributions until September 30, 2021. They recommend that during this period banks exercise extreme prudence when deciding on or paying out dividends. Given the persistent uncertainty about the economic impact of the coronavirus (COVID-19) pandemic a continued prudent approach remains necessary according to the ECB.

After finalizing the discussions with the ECB, Rabobank will determine in its full discretion any distributions on Rabobank Certificates. This could result in distributions that differ from the intended distributions according to the payment policy.

Rabobank continues to hold a solid capital position and a healthy Common Equity Tier 1 (CET1) ratio.

Rabobank will closely monitor further regulatory updates and recommendations, including the ECB’s announced evaluation of the economic situation and the possibility of dividend distributions after September 30, 2021.

Euronext Amsterdam and other trading venues may at any time change the trading mode for Rabobank Certificates after this and any future development. Further information about Rabobank Certificates and the trading mode as applied by Euronext Amsterdam is available on www.rabobank.com/certificates.

Published: 21 December 2020, 08:30 CET

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Press release Mon, 21 Dec 2020 08:30:00 GMT 286898
<![CDATA[Rabobank data in EBA Transparency Exercise]]> https://www.rabobank.com/en/press/search/2020/20201211-rabobank-data-in-eba-transparency-exercise.html?utm_medium=RSS Coöperatieve Rabobank U.A. notes the announcements made today by the European Banking Authority and European Central Bank regarding the information of the 2020 EU-wide Transparency Exercise and fulfilment of the EBA Board of Supervisors' decision.

The EBA Board of Supervisors approved the package for the EU-wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual transparency exercise will be based solely on COREP/FINREP data on the form and scope to assure a sufficient and appropriate level of information to market participants.

The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. Banks had the chance to correct any errors detected and to resubmit correct data through the regular supervisory reporting channels, and to add specific information as required to further clarify individual data.

Published: December 11 2020, 18:00 CET

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Press release Fri, 11 Dec 2020 18:00:00 GMT 287697
<![CDATA[Rabobank: Nederlandse economie en huizenmarkt doen het beter dan verwacht, sectoren herstellen in verschillend tempo]]> https://www.rabobank.com?utm_medium=RSS De Nederlandse economie en huizenmarkt doen het beter dan eerder verwacht. De tweede coronagolf zorgt weliswaar voor een nieuwe dip, maar deze is beduidend minder diep dan tijdens de eerste golf. Ook in vergelijking met de rest van de eurozone doet onze economie het relatief goed. Wel zijn er grote verschillen tussen sectoren, voor wat betreft de impact van de coronacrisis en mate en tempo van het herstel daarvan. Onze economie zal in 2020 met 4,2 procent krimpen om in 2021 en in 2022 met 2,4 procent te groeien. Ook de huizenprijzen blijven deze jaren stijgen, zij het iets minder hard dan in 2020. Dat schrijven economen en sectorspecialisten van Rabobank in een reeks vandaag verschenen publicaties.

De Nederlandse economie is tot nu toe veerkrachtiger gebleken dan eerder gedacht, zegt Ester Barendregt, hoofd RaboResearch Nederland. “Het herstel in de zomermaanden was relatief sterk, de werkloosheid is niet zo hard opgelopen als aanvankelijk verwacht en de woningverkopen zijn gestegen. De steunpakketten van de overheid hadden en hebben een cruciale rol in het beperken van de schade. Maar terwijl de economie nog niet eens volledig was hersteld van de eerste coronagolf, stond de tweede golf al voor de deur. Daarvan lijkt de economische impact wel minder groot. Zo valt de consumptie minder hard terug dan tijdens de eerste golf en zijn internationale waardeketens dit keer minder verstoord. We verwachten daarom een mildere terugval van de economische activiteit in het vierde kwartaal dan in de eerste twee kwartalen van dit jaar.”

In hun basisraming nemen de Rabo-economen aan dat coronavaccins vanaf het eerste kwartaal van 2021 beschikbaar zullen zijn en dat de Nederlandse bevolking vanaf dan gefaseerd kan worden ingeënt. Barendregt: “De coronamaatregelen kunnen dan naar verwachting geleidelijk worden versoepeld, waardoor de economische activiteit weer zal aantrekken. Wel nemen we aan dat de maatregelen ook in het eerste kwartaal van 2021 nog relatief streng zullen zijn. Daarmee zal het herstel volgend jaar mogelijk langzamer op gang komen dan afgelopen zomer.”

Een oplopende werkloosheid en lagere bedrijfsbuffers zullen het verdere herstel van de uitgaven van consumenten en bedrijven in 2021 nog remmen, stelt Barendregt. “Hoewel de export weer zal aantrekken vanwege breder mondiaal economisch herstel, zal de Nederlandse handel schade oplopen door de verslechtering van de handelsrelatie met het Verenigd Koninkrijk na Brexit. Voor 2021 verwachten we daarom dat de Nederlandse economie met 2,4 procent groeit. Daarmee is een deel, maar nog niet alle schade van de coronacrisis goedgemaakt. Dit economische herstel zal verder doorzetten in 2022. We denken dat de werkloosheid dat jaar weer daalt na een piek van zo’n 5,5 procent eind 2021 en dat de economische activiteit halverwege 2022 weer op het pre-coronaniveau ligt. De economie zal ook in 2022 vermoedelijk met 2,4 procent groeien.”

In hun sectorprognoses hebben de economen en sectorspecialisten een indeling in drie groepen gemaakt. Carin van Huët, hoofd Sectormanagement Bedrijven, licht toe: “Allereerst de hoofdsectoren die het hardst worden geraakt: horeca, vervoer & opslag en de overige zakelijke diensten, waaronder de reisbureaus vallen. Deze sectoren krimpen in 2020 naar verwachting respectievelijk 39, 14 en 16 procent. De drie sectoren groeien volgend jaar dan waarschijnlijk wel, maar komen van zo’n laag niveau dat een volledig herstel in 2021 uitblijft. Voor de sector horeca en recreatie verwachten we dat deze tot ver in 2021 te maken krijgt met beperkende maatregelen. Dit zal een volledig herstel in de weg zitten.”

Dan is er nog een groot aantal sectoren die dit jaar hun toegevoegde waarde gematigd zien slinken met percentages tussen de -2 en -6, gaat Van Huët verder. “Op basis van de snelheid van het herstel in het komende jaar kunnen wij deze tweede groep in tweeën splitsen. Het onderwijs, de zorg en de ICT herstellen in 2021 volledig, terwijl dat bij de industrie, de handel en de specialistische zakelijke diensten wat langer duurt. Waarbij de industrie herstelt door verbetering van de exportpositie. Aan de ontwikkelingen in de handel kun je zien dat we minder zijn gaan consumeren en tegelijkertijd andere dingen zijn gaan doen met ons geld. Zo is minder uitgegeven aan kleding en schoenen, terwijl bouwmarkten, tuincentra en meubelwinkels een groter deel van de taart hun kant op zagen komen. Voor 2021 verwachten we een omgekeerde beweging als consumenten gedeeltelijk terugkeren naar oude patronen.”

De derde groep bestaat uit de bouw en de landbouw. “In 2020 laten deze nauwelijks of geen krimp zien, maar die krimp is er in 2021 wel. De bouw is historisch gezien laat-cyclisch. Het lage aantal tenders en de weinige bouwvergunningen ondersteunen deze verwachting. Verder staat de landbouw tot op zekere hoogte los van de conjunctuur, waardoor deze sector dit jaar buiten schot bleef. Voor 2021 verwachten we echter ook hier krimp. Zo kampen foodservicekanalen wel degelijk met forse vraaguitval. Dat zorgt ervoor dat toeleveranciers van deze keten, zoals vleesverwerkers, hun capaciteit terugschroeven en minder producten afnemen van de primaire agrarische sector. Ook zetten de sterk stijgende grondstofprijzen het verdienmodel van de veehouderij onder druk”, aldus Van Huët.

Sinds de coronacrisis ziet Ester Barendregt een tegenovergestelde ontwikkeling op de Nederlandse huizenmarkt dan bij aanvang van de pandemie verwacht. “Dit jaar zijn de huizenprijzen namelijk zelfs harder gestegen dan vorig jaar. Gemiddeld zijn bestaande koophuizen waarschijnlijk zo’n 7,8 procent duurder dan in 2019. Dat lijkt niet alleen te liggen aan de overheidssteun waardoor de werkloosheid minder hard is opgelopen dan verwacht. Ook de emotie van de biedstrijd die tegenwoordig vaak om huizen woedt kan meespelen. Net als de toegenomen rol van woningbeleggers. Hoe bestendig deze laatste twee vraag- en prijsopdrijvende factoren in de toekomst blijven, is onzeker.”

Door de coronacrisis lijken woningkopers tot nu toe vaker op zoek naar grotere huizen, maar officiële verkoopcijfers laten nog geen versnelling van de trek naar het buitengebied zien, benadrukt de econoom. “Doordat de economische vooruitzichten zijn verbeterd, woningbeleggers nog altijd zeer actief zijn en de leennormen worden versoepeld, verwachten wij verder geen daling van de huizenprijzen meer. Wel verwachten we dat deze de komende jaren minder hard stijgen dan in 2020: voor 2021 gaan we uit van een stijging van 5,5 procent, voor 2022 van 2,5 procent. Onder invloed van de achterblijvende nieuwbouw en het beperkte aanbod verwachten we een daling van het aantal verkopen van zo’n 235.000 in 2020 tot circa 220.000 in 2021 en 210.000 verkopen in 2022.”

De publicaties zijn hier te vinden:
Sectoren: https://www.rabobank.nl/bedrijven/cijfers-en-trends/coronacrisis/
Economisch Kwartaalbericht: https://economie.rabobank.com/economisch-kwartaalbericht/
Kwartaalbericht Woningmarkt: https://economie.rabobank.com/publicaties/2020/december/kwartaalbericht-woningmarkt/

Gepubliceerd: 10 december 2020, 01:00 CET]]>
Press release Thu, 10 Dec 2020 01:00:00 GMT 287679
<![CDATA[Rabobank announces a distribution in the form of Rabobank Certificates in early December 2020]]> https://www.rabobank.com/en/press/search/2020/20201130-rabobank-announces-a-distribution-in-the-form-of-rabobank-certificates-in-early-december-2020.html?utm_medium=RSS The Executive Board of Rabobank has decided to make an exceptional distribution of the approximate equivalent of EUR 1.625 per Rabobank Certificate, in the form of Rabobank Certificates in early December 2020. This announcement is a follow-up on the intention to make such a distribution, as communicated on 21 October 2020.

The Executive Board made the decision about this exceptional distribution at its full discretion. Rabobank hereby informs holders about the details and relevant dates of the distribution. Rabobank Certificates will trade ex-distribution as of 4 December 2020 (ex-date) at Euronext Amsterdam. The record date will be 7 December 2020.

The number of Rabobank Certificates entitled to one new Rabobank Certificate (the distribution ratio) will be determined by dividing the volume-weighted average prices of all traded Rabobank Certificates at Euronext Amsterdam on 1, 2, and 3 December 2020 (VWAP) by the distribution amount of EUR 1.625. Rabobank will adjust the VWAP by reducing it by EUR 1.625. This will correct for the fact that the VWAP is based on prices prior to the ex-date, which still reflect the value of the upcoming exceptional distribution. If the number of new Rabobank Certificates to be distributed to a holder does not correspond to a whole number of Rabobank Certificates, the fractions shall be settled in cash.

The distribution ratio will be announced on www.rabobank.com/certificates prior to trading hours on 4 December 2020. New Rabobank Certificates will be issued and delivered to the clearing systems on 8 December 2020. Delivery of the new Rabobank Certificates and cash fractions (if applicable) to holders will take place as of 9 December 2020.

The newly issued Rabobank Certificates will have the same terms as, and will be fungible with current outstanding Rabobank Certificates.

The following timetable applies for Euronext Amsterdam. Different ex-dates could apply for other trading platforms.

4 December 2020 Announcement of the distribution ratio and ex-date
7 December 2020 Record date
8 December 2020 Issuance of new Rabobank Certificates
As of 9 December 2020 Delivery of new Rabobank Certificates and cash fractions to holders

Euronext Amsterdam may at any time change the trading mode for Rabobank Certificates after this and any future announcement of Rabobank. Further information about the Rabobank Certificates and the trading mode as applied by Euronext Amsterdam is available on www.rabobank.com/certificates.

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.

Published: November 30 2020, 08:30 CET]]>
Press release Mon, 30 Nov 2020 08:30:00 GMT 287557
<![CDATA[Rabo Food & Agri Innovation Fund invests in chickpea protein Foodtech Company InnovoPro]]> https://www.rabobank.com/en/press/search/2020/20201029-rfaif-innovopro.html?utm_medium=RSS InnovoPro, the plant-based ingredients innovator specialising in innovative chickpea proteins, has secured $18m from investors including Rabobank as part of a second funding round. The Rabo Food & Agri Innovation Fund, part of Rabobank’s investment arm Rabo Corporate Investments, joined InnovoPro's B round funding as the global food ecosystem continues to evolve in response to the COVID-19 pandemic. The deal, which was led by Jerusalem Venture Partners (JVP), Israels leading VC fund and also included in its second closing ICOS Capital, collaborative venture capital firm and iAngels, Israel's influential Angels investment platform, comes as consumers demand healthier and more sustainable clean-label plant-based solutions.

Based in Raanana, north of Tel Aviv, InnovoPro was founded in 2015. It developed a proprietary extraction process to concentrate protein from chickpea, a functional protein which can serve as a clean label enabler for plant-based products including dairy-free yoghurts, vegan ice cream, veggie burgers and energy bars.
 
InnovoPro is the first company in the world to develop and launch a revolutionary 70% protein concentrate from chickpeas, with exceptional properties of a neutral taste, high functionality and high nutritional values. InnovoPro’s innovative plant-based protein boasts multiple benefits, which explain its early success: it is “free from all”, has not been genetically modified (non-GMO), free of phytoestrogens, has no aftertaste and is not listed as an allergen. These properties render it highly suitable for developing a broad range of food products that meet a range of demands from diverse target audiences across the globe.
 
Food-tech investments reached $4.8 billion during the first half of 2020, compared to $7 billion in all of 2019, and the scope of investments is expected to continue to rise rapidly. This latest investment is a natural addition to Rabo Corporate Investment’s global capital investment allocation of Euro 2.1b. The investment will further strengthen its presence in the plant-based protein market which is currently estimated globally at $40 billion and is expected to grow at a CAGR of 11% to $75 billion by 2027.
 
Lower water usage
Richard O’Gorman, Managing Director of Rabo Food & Agri Innovation Fund said, “We first engaged with InnovoPro through the bank’s global startup discovery platform, FoodBytes! by Rabobank, and have followed their progress and success closely since. In line with the more informed and sophisticated consumer, novel plant based protein solutions are coming under greater scrutiny in the context of their nutrition and sustainability footprint. Chickpea with its high protein, fiber, iron and other characteristics leads to a more nutritious alternative and allows for cleaner labeling with no need for the emulsifiers, enhancers or masking agents necessary with competing analogues. Chickpea is a sustainable source, driven by crop characteristics such as comparatively lower water usage and carbon footprint with rotational qualities.
For these reasons we believe chickpea will be a leader in the next wave of non-animal protein sources. We are therefore very proud to back InnovoPro, the strong market leader in the space, and look forward to scaling the company with an expert management team and strong group of investors”.
 
New reality
“The COVID-19 crisis has created a new reality, positioning food security as an essential need”, said JVP Founder and Chairman, Dr. Erel Margalit, who led the funding round. “The significant decrease in world trade and in available employees on farms, creates the need to be self-sustainable at all times. Additionally, the COVID-19 crisis has raised worldwide awareness to healthier foods and better food processing standards. This has increased the need for creative sustainable solutions and innovation in the changing world of what we eat. InnovoPro has become a leader in the Israeli food-tech industry and is on the path to becoming a world food-tech leader”.
 
“We are honored to have Rabobank as a shareholder in InnovoPro” said Taly Nechushtan, CEO of InnovoPro. “InnovoPro will use the additional funding to scale up operational capabilities through increasing production capacity and for further business development activities, including forming joint ventures with strategic partners. As part of our sustainable growth strategy, we will also use the added funding to explore production collaboration options for our protein and future products in the EU, to expand our EU supply chain capabilities.
 
The Rabo Food & Agri Innovation Fund, being part of the leading bank in the food and agriculture financing arena, will leverage its significant global business network to facilitate more opportunities to form such strategic partnership.” 
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Press release Thu, 29 Oct 2020 10:40:52 GMT 286993
<![CDATA[Rabo Food & Agri Innovation Fund invests in TeleSense Series B round]]> https://www.rabobank.com/en/press/search/2020/20201022-rabo-fa-innovation-fund-telesense.html?utm_medium=RSS The Rabo Food & Agri Innovation Fund (RFAIF) announces its seventh investment of 2020 with a follow-on investment in the EUR 10.2m Series B financing round of US-based portfolio company TeleSense, investing alongside Finistere Ventures, Fulcrum Global Capital, UPL, Mindset Ventures and Artesian. The company also added Søren Wølck Schrøder (former CEO of Bunge), and Mark Palmquist (CEO of United Malt and former CEO of GrainCorp) to its Board of Directors.

RFAIF has continued its growth in recent months by adding new investments as well as supporting its current portfolio with follow-ons. Richard O’Gorman (MD of RFAIF): “Despite Covid-19, we have expanded our activity by adding exciting breakthrough food and agri disruptors to the portfolio. Telesense has made great progress since the Series A, and is at present rolling out commercially on several continents. With a strong investor syndicate and experienced names joining the board, we look forward to scaling the company further.”

Naeem Zafar, CEO of Telesense commented: “TeleSense was fortunate to have Rabobank as an early investor, joining the company at the Series A round in 2018. From the start, they have been engaged, helpful and supportive. Now that our company is in scaling mode, we look forward to engaging further with the richest network of growers worldwide who rely on Rabobank for financial services. There is a lot of synergy and common ground on how Rabobank supports their ag-centric clients and how TeleSense products provide technology to improve the grower’s bottom line through data-driven decision making and preventing post-harvest grain losses”.

This funding round enables the company to further scale to meet surging demand for its solutions that digitizes the post-harvest grain supply chain. Utilizing advanced IoT, real-time environmental monitoring, and cloud-based AI technology, the company helps major grain players to mitigate spoilage, reduce quality degradation, reduce energy costs and increase worker safety. Meeting the differing accessibility and scalability demands of both advanced and emerging economies, TeleSense helps manage key risks in the world’s perishable commodities supply chain. Its machine learning algorithms provide users with the smart alerts they need to effectively manage and predict grain quality, eliminate human error, ensure safety, improve operational efficiency, and increase profitability.

“Telesense is a demonstrated leader in the space and is aligned to  our mission and activity since we first supported it in 2018. The Telesense original vision to digitize the grain supply chain is being realized. The technology is more widely adopted and there is a growing consensus in the sector on the value proposition and the market need,” added Richard O’Gorman. “Bringing accelerated and sustainable efficiency to the food supply chain is a central theme in the investments we make.”

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Press release Thu, 22 Oct 2020 14:48:20 GMT 286904
<![CDATA[Rabobank intends to make a distribution in the form of Rabobank Certificates at the end of 2020]]> https://www.rabobank.com/en/press/search/2020/20201021-rabobank-intends-to-make-a-distribution-in-the-form-of-rabobank-certificates-at-the-end-of-2020.html?utm_medium=RSS Rabobank announces its intention to pay an exceptional distribution in the form of Rabobank Certificates in December 2020 to investors who are holding certificates on a to be specified future date. This will be the approximate equivalent of EUR 1.625 per Rabobank Certificate. This intended distribution is still subject to the full discretion of the Executive Board of Rabobank. Further details will be announced in due time.

On 13 August 2020, Rabobank announced that it is adhering to the extended ECB recommendation (published on 28 July 2020) and that it will not be paying any cash distributions on Rabobank Certificates during the full year of 2020. Concurrently Rabobank stated that it will carefully assess the possibility of making a distribution in the form of Rabobank Certificates. The bank has finalized this assessment and is now announcing its intention to make a distribution in the form of Rabobank Certificates in December 2020.

The intended distribution will in itself not impact Rabobank’s solid capital position, nor its healthy Common Equity Tier 1 (CET1) ratio. The bank will stay focused on maintaining a solid capital base to continue to serve clients as much as possible in these challenging times.

Bas Brouwers, CFO of Rabobank: ‘COVID-19 still has a major impact on the world and its economy. As a cooperative bank it remains our priority to support the economy and help our clients through this crisis. We also acknowledge the impact on both our retail and institutional investors of Rabobank adhering to the ECB recommendations. We consider the intended distribution in the form of Rabobank Certificates as an exceptional measure in these unprecedented times’.

The bank will closely monitor further updates and announcements from the regulators. Distributions on Rabobank Certificates are fully discretionary. The Executive Board of Rabobank can always decide whether or not a distribution will be made, as well as the level and form of distributions.

Euronext may change the trading mode for Rabobank Certificates after this and any future announcement of Rabobank. Further information about the Rabobank Certificates and the trading mode as applied by Euronext is available on www.rabobank.com/certificates.

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.

Published: 21 October 2020, 17:50 CET

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Press release Wed, 21 Oct 2020 17:50:00 GMT 265462
<![CDATA[Coöperatieve Rabobank U.A. launches its Tender Offer invitation to holders of its £250,000,000 Fixed/Floating Rate Perpetual Non-Cumulative Capital Securities]]> https://www.rabobank.com/en/press/search/2020/20201007-cooperatieve-rabobank-ua-launches-its-tender-offer-invitation-to-holders-of-its-250000000-pound-fixed-floating-rate-perpetual-non-cumulative-capital-securities.html?utm_medium=RSS Coöperatieve Rabobank U.A. (formerly known as Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.) (the "Offeror" or "Rabobank") has today launched its invitation to holders of its £250,000,000 Fixed/Floating Rate Perpetual Non-Cumulative Capital Securities (ISIN: XS0368541032) (the "Capital Securities") to tender such Capital Securities for purchase by the Offeror for cash (such invitation, the "Offer").

The Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated October 7, 2020 (the "Tender Offer Memorandum") and is subject to the offer restrictions described in the Tender Offer Memorandum. The full tender launch announcement and the Tender Offer Memorandum can be obtained from the tender agent: Lucid Issuer Services Limited / rabobank@lucid-is.com / +44 20 7704 0880.

Neither the Tender Offer Memorandum, this press release nor the electronic transmission thereof constitutes an offer to buy or the solicitation of an offer to sell Capital Securities (and tenders of Capital Securities for purchase pursuant to the Offer will not be accepted from holders) in any circumstances in which such offer or solicitation is unlawful. The Offer is not being made and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States or to any U.S. Person (as defined in Regulation S of the United States Securities Act of 1933, as amended (each a "U.S. Person")). Further restrictions apply in relation to the United Kingdom, France, Italy and Hong Kong as set out in full in the Tender Offer Memorandum.

For more information, please contact:
Rabobank Press Office
+31 (0) 30 216 2758 or pressoffice@rabobank.nl

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.

Published: October 7th 2020, 8:00 CET

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Press release Wed, 07 Oct 2020 08:00:00 GMT 269439
<![CDATA[Rabobank first bank in the Netherlands to offer bank account for utility token]]> https://www.rabobank.com/en/press/search/2020/20201005-rabobank-first-bank-in-the-netherlands-to-offer-bank-account-for-utility-token.html?utm_medium=RSS Rabobank facilitates the 2Tokens Foundation with a bank account. By doing so, Rabobank is the first bank in the Netherlands which facilitates payment for tokens. This is a big step forward in applying the concept of tokenization in society.

The 2Tokens foundation uses so-called utility tokens named “TWO”, which can be paid for with iDeal in euros as part of their partner offering. Partners can participate in a wide range of activities the foundation organizes regarding the concept of tokenization, including masterclasses, workshops and other events. Everyone with a Dutch bank account allowing iDeal payments, can become partner of 2Tokens therefore gain access to their exclusive events, educational materials and a unique network of knowledge.

2Tokens started as an EU subsidized project which delivers a clear set of rules and guidelines on how to deal with tokenization in the Netherlands. Tokenization is an innovation in the field of digital assets, which can be applied using blockchain technology. The behavior of these tokens is programmable. For example, the TWO token can only be spent once and has a limited lifetime. Because the utilization of blockchain technology it is impossible to forge tokens and it is therefore a safe means of value. Another application is the division of real estate in tokens which allows investors to share ownership in an efficient and transparent way. This also allows for a new form of micro-financing.

“We are happy with the substantive contributions from Rabobank, facilitating a bank account for the foundation helps us to support the Dutch token ecosystem even better.”- Alex Bausch, chairman 2Tokens Foundation

Next to Rabobank, CMS, Dusk Network, WatsonLaw, DataFlow, YES!Delft and regulators are involved in the 2Tokens initiative.

Rabobank has been actively participating in blockchain-based projects. The bank already offers two blockchain-based platforms to their clients ( and ). Furthermore, the bank works actively on applications for Food & Agri, real estate, identity and HR.

“As Rabobank we see a wide range of applications for tokenization. You could for example divide a real estate object or a start-up in really small pieces. With this innovative form of micro-investment, you could for example actually be the owning multiple small pieces of agricultural real estate starting at a young age.” – Djuri Baars, Lead Blockchain Team at Rabobank explains.

The project will be wrapped up with a virtal closing event on Thursday October 8th. Everyone who is interested can participate by registering at 2Tokens-website. During this event several use cases for tokenization will be presented next to the activities of the 2Tokens foundation.

Published: October 6th 2020, 10:00 CET]]>
Press release Tue, 06 Oct 2020 10:00:31 GMT 269408
<![CDATA[Rabobank next bank to introduce negative interest rates for balances over EUR 250,000 Euro]]> https://www.rabobank.com/en/press/search/2020/20200930-rabobank-next-bank-to-introduce-negative-interest-rates-for-balances-over-eur-250000-euro.html?utm_medium=RSS Rabobank is changing the interest rate for its current, savings and investment accounts because of the continuing low interest rates in the market. The rate change will take effect from 1 January 2021. From that date, a credit interest rate of - 0.5% will apply to both private and business customers for the portion of the credit balance over € 250,000. The interest will be calculated per account.

For private customers with a balance of less than € 250,000 nothing changes. Rabobank pays an interest rate of 0.01% on private savings and investment accounts up to € 250,000. On private current accounts, the interest rate will remain 0% for balances up to € 250,000.

Equally nothing will change for business customers with a balance of up to € 250,000. Rabobank pays an interest rate of 0.01% on business savings accounts up to € 100,000; above that, the interest rate is 0% up to € 250,000. On current and investment accounts, the interest rate will remain 0% for the part of the balance up to € 250,000.

Even after these adjustments, 98.7% of all private and business customers will still be exempt from negative interest rates. Rabobank would like to keep the numbers of customers in this group and the related thresholds as high as possible, but unfortunately cannot give any guarantees in view of continuing low interest rates.

Despite the fact that interest rates have been low for quite some time, customers are continuing to save. Rabobank strongly encourages this as financial self-sufficiency is high on our societal agenda. It is important for people to have a buffer for things like unexpected expenses, children’s education fees, the consequences of COVID or taking early retirement.

Published: September 30th 2020, 14:30 CET

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Press release Wed, 30 Sep 2020 14:30:00 GMT 269375
<![CDATA[Rabo Food & Agri Innovation Fund (RFAIF) invests in Saga Robotics AS]]> https://www.rabobank.com/en/press/search/2020/20200901-RFAIF-Saga-Robotics.html?utm_medium=RSS The Rabo Food & Agri Innovation Fund announces its investment in the EUR 9.5m Series A financing round of the Norwegian based company, Saga Robotics AS, investing alongside the Norwegian sovereign climate investment fund, Nysnø Climate Investments and experienced sector investor ADM Capital.

Saga Robotics is the company responsible for the design, development, and production of the world-leading agricultural robot, Thorvald.  The Thorvald design offers a highly versatile modular platform to support environmentally friendly crop protection and harvesting applications for both indoor and outdoor growing environments. It’s autonomous functionality provides a high-tech, sustainable and economically viable alternative to manual processes to address the acute labour supply issues facing the global agricultural industry, specifically within horticulture. This investment will enable Saga to scale-up its commercial roll-out of Thorvald and support the launch of its new harvesting application.

Saga has already gained a reputation for the strength of its technology amongst international growers who are operating Saga’s UVC light application to treat mildew in soft fruit, where Saga’s UVC technology offers a cost effective and environmentally sustainable alternative to the use of conventional chemicals and supports an industrial move towards greener farming techniques. To leverage the modular design of the Thorvald platform, in addition to its harvester, Saga is also working on a pipeline of applications to broaden its service offering, maximise user ROI and limit integration requirements. This model will be instrumental in building user trust and scaling Saga’s technology.
Tom Ritchie, Investment Manager RFAIF, comments: “The adoption of automation in agriculture represents a multi-billion dollar industry and RFAIF are pleased to support a company with a vision so clearly aligned with Rabobank’s mission: Growing a Better World Together. Through Rabobank’s international network we look forward to supporting the future success of Saga Robotics AS”.

"We are very pleased that Rabo Food & Agri Innovation Fund has decided to join us on our journey to transform the agricultural industry and supports us in our vision to grow into a global business. The institutional knowledge that Rabobank brings into Saga creates a fantastic opportunity for growth in both existing and new domains. This investment will allow us to take the company to the next level and scale quickly. And we will take this opportunity to make sure our Thorvald robots improve farming operations around the world", says Pål Johan From, CEO of Saga Robotics.

RFAIF
Richard O’Gorman, Managing Director, RFAIF, added: “As a specialist food and agri investor, Rabo Food & Agri Innovation Fund is deeply aware of the increasing necessity for automation in driving efficiencies in how we grow and harvest our food. There are several aspects to the associated benefits, including improved labour, inputs, yield, cost and quality management and in turn tangible sustainability improvements. Given the progress and deep R&D capability shown to date, we are very proud to partner with Saga Robotics as they roll out more functionality on the base Thorvald robot and look forward to scaling the company together with a strong group of investors”.

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Press release Tue, 01 Sep 2020 18:51:09 GMT 268974
<![CDATA[Rabo Frontier Ventures and Greyhound Capital team up for growth investments]]> https://www.rabobank.com/en/press/search/2020/20200818-RFV%20-Greyhound.html?utm_medium=RSS Rabo Frontier Ventures (RFV) has entered into a partnership with Greyhound Capital through a commitment to their second fund, Greyhound Capital Partners II, L.P. Greyhound Capital is a growth equity investment firm focused on traditional industries where technology improves people’s everyday life.

RFV considers Greyhound Capital to be a perfect partner because of its focus on growth investments and complementary research-driven investment process in the areas of banking, software and insurance among others.

Greyhound Capital has proven to be a successful partner to world-class businesses through their subsector focus, strong network within the ecosystem and value creation initiatives helping build enduring companies.  Greyhound Capital’s strategy of targeting businesses of highest level of business and management quality has resulted in numerous success stories with investments in Revolut, Guideline, Freee, Careem, Brex, Marqeta, Coalition, N26, Toss and others.

“Greyhound Capital’s strategy and investment focus has proven itself and matches well with our strategy of investing in leading funds and working with general partners on selective co-investments. The existing portfolio proves that Greyhound Capital is a partner of choice to outstanding teams resulting in exceptional performance. Furthermore, the portfolio construction that Greyhound Capital continues to build appears to be very resilient to the COVID-19 environment, is very relevant to our space and we anticipate bringing our complimentary experience to benefit the entrepreneurs. The agile team set-up, combined with the strategy and focus makes Greyhound Capital a great partner for us” said Jeroen van Doornik, Managing Partner at RFV.

Greyhound Capital
Greyhound Capital is a growth equity investment firm focused on technology-enabled businesses in traditional industries that improve people’s everyday life. The firm seeks to partner with outstanding teams and support them in building enduring companies. Greyhound Capital backed companies include Revolut, Guideline, Freee, Careem, Brex, Marqeta, Coalition, N26, Toss and others.

Rabo Frontier Ventures
RFV is a €150 million investment fund of Rabobank, focusing globally on innovative Fintech and Agtech companies. RFV aims to invest directly in the early growth stage (series B) of companies that are disrupting or influencing the current business of Rabobank and indirect in leading general tech funds such as Greyhound Capital, Holtzbrinck, Northzone, Speedinvest and Valar Ventures.

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Press release Tue, 18 Aug 2020 11:00:54 GMT 267942
<![CDATA[Rabobank Posts Net Result of EUR 227 million for First Half-Year 2020]]> https://www.rabobank.com/en/press/search/2020/20200813-rabobank-posts-net-result-of-eur-227-million-for-first-half-year-2020.html?utm_medium=RSS In the first half of 2020 COVID-19 had a major impact on Rabobank and its customers. Rabobank maintains a strong capital and liquidity position and posted a net result of EUR 227 million.

‘Never before have we faced such rapidly changing circumstances as in this first half-year, due to COVID-19. Its impact has been enormous. First and foremost, it caused a health crisis and massive suffering across the world. It also hit the economy hard. Our customers and all our employees have been affected by multiple aspects of the corona virus, sometimes facing profound and far-reaching impacts. Moreover, the pandemic is not over yet.

As a result of consistent execution of our strategy, our bank was in a strong position when the outbreak started. Our strong buffers will help us through this difficult period and enable us to support our customers and the economy. We were quickly able to adapt to the new reality and continued delivering mainly digital services to our customers. We provided temporary financial relief to around 80,000 customers (7,500 private customers and 72,500 business clients).

Central banks have been taking several measures to support the economy as well. The purpose of these measures is to fund households, SME’s and corporate customers in need of extra liquidity. In March 2020 the European Central Bank (ECB) issued a recommendation to banks not to pay dividends until at least 1 October, 2020. The ECB published an updated recommendation on 28 July, 2020 extending this period to 1 January, 2021. Rabobank is adhering to both recommendations, which means that we will not pay any cash distributions on the Rabobank Certificates during the full year 2020. The updated recommendation itself does not preclude Rabobank from making a distribution in the form of Rabobank Certificates. We will carefully and in our full discretion assess such form of distributions. We want to emphasize that we remain committed to our longstanding relationship with both retail and institutional investors.

We saw an increased use of digital services by our customers. We were able to quickly deploy our online credit platform to ensure a rapid automated response to requests for payment holidays from SME’s. And online mortgage consultations became the norm within weeks. Another initiative was to support local food producers by setting up short food supply chains. Our worldwide sustainability efforts were recognized by Sustainalytics who once again rated Rabobank number one among a group of 374 diversified banks.

Working from home has become the new normal. Our employees have adapted to online meetings and events as part of everyday working life. COVID-19 has taught us that the 'old normal' of going to work and back home all at the same time in a full train or stuck in traffic was not that normal at all. We thank all of our employees for their boundless efforts and flexibility in the face of all the challenges that COVID-19 presented to each and every one of us.’

Net result for the first half-year 2020 was EUR 227 million. This lower result compared to the same period in 2019 can be primarily attributed to the impact of COVID-19. The persistent low interest rate environment also played a role. The effects of COVID-19 are reflected in the significantly higher loan impairment charges which have increased to EUR 1,442 (H1 2019: 440) million, equivalent to 69 (H1 2019: 23) basis points of the average loan portfolio. Income was down due to lower economic activity and negative asset revaluations driven by the COVID-19 pandemic. Operating costs continued the downward trend, thanks in part to the deconsolidation of RNA in the U.S. in 2019. The cost/income ratio rose to 65.3%.

The loan portfolio remained relatively stable at EUR 415.4 billion. As a result of our strategic focus the Food&Agri loan portfolio grew by EUR 1.1 billion to EUR 108.3 billion. Rabobank remains the mortgage market leader in the Netherlands with a market share of 22%. 

Deposits from retail and wholesale customers rose by EUR 23.0 billion (+ 8%) in the first half of 2020. This is in line with the general trend in the Dutch savings market related to the impact of COVID-19 and includes the seasonal impact of holiday allowances.

Rabobank’s capital position remains robust and the common equity tier 1 (CET 1) ratio increased to 16.6%, which is well above the supervisory requirement and exceeds the ambition of at least 14%. In turbulent times, Rabobank demonstrated yet again its ongoing strong access to funding and capital by issuing a number of transactions in different formats and currencies. The return on equity amounted to 1.1% (5.9% in H1 2019).

Looking ahead to the second half of 2020 Draijer says: ‘The coming period will be marked by uncertainty: it is still not clear how the pandemic will develop, how long it will last, or what measures will be needed to bring the virus under control. In line with our mission Growing a better world together we will keep on helping our customers to weather this crisis. However, even the generous government support measures and our own initiatives will not be enough for everyone. We will see the impact of COVID-19 reflected in our full-year results for 2020 and we will remain focused on our costs.

We will continue to give top priority to our role as gatekeeper of the financial system. A great milestone was the establishment of Transaction Monitoring Netherlands (TMNL). Together with other Dutch banks we will join efforts against financial crime, on top of our own transaction monitoring initiatives. We are also continuing our collaboration within the Public Private Partnerships around themes such as Trade Based Money Laundering.

We will stay keenly focused on working towards a robust and future-proof KYC-structure and organization. The DNB evaluation regarding Rabobank’s compliance with the terms of the DNB’s injunction on this topic is ongoing. The timing of completion of DNB’s investigation and the final outcome are currently uncertain.

We will further strengthen the core of our banking business, guided by our clear mission and strategic agenda. As a cooperative bank we continue to offer our customers services that contribute to global transitions ’.

Published: August 13 2020, 07:30 CET

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.

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Press release Thu, 13 Aug 2020 07:30:00 GMT 267855
<![CDATA[Publication Interim Results on August 13, 2020]]> https://www.rabobank.com/en/press/search/2020/20200805-publication-interim-results-on-august-13-2020.html?utm_medium=RSS Rabobank presents the Interim Results on Thursday August 13, 2020. The press release, Interim Results and infographic will be published at 7.30 AM CET.

Wiebe Draijer and Bas Brouwers will present interim results 2020 in a webinar for the press at 9.00 AM CET. Rabobank will host a webinar for analysts and institutional investors at 2.00 PM CET. This event will be conducted in English.

The press webinar will be made available at Rabobank.com as of 12.00 PM CET. The analyst webinar, including the presentation slides, will be made available at Rabobank.com at 3.30 PM CET. The presentation slides will already be available at 9.00 AM CET.

Published: August 5 2020, 9:00 CET

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Press release Wed, 05 Aug 2020 09:00:00 GMT 267397
<![CDATA[FAO and Rabobank’s new partnership focuses on helping make food systems more sustainable, including through innovative investments]]> https://www.rabobank.com/en/press/search/2020/20200706-fao-and-rabobanks-new-partnership-focuses-on-helping-make-food-systems-more-sustainable-including-through-innovative-investments.html?utm_medium=RSS Joint projects aim to lower greenhouse gas emissions, improve land and water use, and empower smallholder farmers to reduce food losses and address the challenges of climate change

Rabobank has signed a new partnership agreement with The Food and Agriculture Organization of the United Nations (FAO), with the intention of helping targeted rural communities benefit from more inclusive, sustainable food systems. It also envisages jointly exploring the use of innovative financial instruments to bridge financing gaps in emerging markets and to promote sustainability in food systems investments.

FAO and Rabobank will work with key food and agriculture sectors on a series of projects designed to help lower greenhouse gas (GHG) emissions, improve land and water use, and empower smallholder farmers to address the challenges of climate change and reduction of food losses. Special attention will be paid in ensuring the inclusion of poor, vulnerable and marginalized groups, including women and youth.

The collaboration will begin with a review of the dairy sector in two pilot countries, India and Kenya, with a view to reducing food losses in the sector and promoting a transition to more sustainable food systems. The dairy sector has an important role to play in food systems transformation, as it contributes to food security and nutrition and provides livelihoods for a number of actors along the food value chain. Though dairy production also contributes to greenhouse gas emissions, it holds huge potential for improvement.

The projects undertaken in the context of the partnership will support FAO’s Hand-in-Hand initiative, which matches donors and recipients to support tailor-made, country-led efforts to assist the most vulnerable populations. The private sector is a key partner in the initiative, and Rabobank, as a global leader in food and agriculture financing and sustainability-oriented banking, is well-placed to assist in designing such interventions.

“The new partnership between FAO and Rabobank will serve to support our work to transform food systems so that they can become more inclusive and sustainable, especially within the context of the COVID-19 response and the need to build back, better. In particular it will focus on improved land and water use, lowering greenhouse gas emissions and food loss while increasing the resilience of farmers and small-scale businesses,” said FAO Director-General QU Dongyu. “I also wish to thank Rabobank’s support to FAO’s Hand-In-Hand Initiative which aims, through specific country-led interventions, to assist the most vulnerable populations,” he added.

COVID-19 has shown us that our food systems need a ‘new normal’,” said Berry Marttin, Board Member of Rabobank. “We need to identify and analyze finance gaps and debate short and long supply chains. We must focus on innovative ways to reward sustainability investments, such as implementing ‘nature costing’, a pricing structure that reflects food’s environmental impact. Rabobank is the leading bank in food and agriculture, but also a cooperative bank. We believe in working together. By partnering with FAO, we can mobilize our complementary expertise and networks to contribute to real food system transformations.”

The partnership will also map agricultural supply chains to identify opportunities for green finance hotspots in emerging markets, and explore the possibility of environmental or climate finance programming incentives that reward farmers and small agribusinesses for adopting GHG emission reduction technologies and practices.

Through its work, FAO advocates for sustainable food systems that ensure food security and nutrition for all without compromising the economic, social and environmental conditions which are necessary to generate food security and nutrition for future generations. Food systems both contribute to and are affected by extreme weather events as associated with climate change, land degradation and biodiversity loss, so any response to these challenges requires a systems-based approach that addresses the range and complexities in a holistic manner.

FAO has previously collaborated successfully with the Rabobank Foundation, a corporate foundation funded by the bank, on projects aimed at improving the incomes of smallholder farmers in Ethiopia, Kenya and Tanzania through better access to financial tools and investments.

Published: July 6st 2020, 10:30 CET

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Press release Mon, 06 Jul 2020 10:30:00 GMT 267277
<![CDATA[Rabo Frontier Ventures partners with HV Holtzbrinck Ventures]]> https://www.rabobank.com/en/press/search/2020/20200701-rabo-frontier-ventures-partners-with-hv-holtzbrinck-ventures.html?utm_medium=RSS

Rabo Frontier Ventures (“RFV”)”, a €150 million investment fund of Rabobank, focusing globally on innovative Fintech and Agtech companies, has entered into a partnership with HV Holtzbrinck Ventures (“HV”) through a commitment to their new fund (HV VIII). HV is the leading German venture firm, backing companies early on from their inception through their entire lifetime, with amounts of up to €50 million per company. This positioning is unique in the ecosystem, with very high added value for entrepreneurs.

Due to its entrepreneurial spirit and its ability to build digital companies of global scale RFV considers HV to be the perfect partner for seed and early stage ventures in the DACH region. RFV will work together with HV in order to identify interesting technology companies that are disrupting or influencing the current business of Rabobank.

The new fund is currently being raised and will be invested from the fourth quarter 2020 onwards. HV VIII will serve as an all stage venture capital fund supporting exceptional founders in building leading digital companies. HV remains an early risk taker, backing entrepreneurs from seed stage and providing large follow-on investment amounts for the best performing assets. In addition, a new growth strategy will be introduced within the fund, to deploy a first HV ticket even at later stages of the development of a company.

“Having been around for more than two decades HV is one of the most experienced and longest established VC’s with strong traction in Europe. Over the years they have created a very strong brand name and it goes without saying that it’s a great opportunity to partner with the team. Even though it’s a very challenging environment HV has all the capability and track record to deliver again on their promise. From our focus on fintech and keeping an eye on developments in adjacent markets it’s great to add HV to our fund of fund portfolio.” said Jeroen van Doornik, managing partner at RFV.

For more than twenty years, HV has partnered with founders to support them building flagship companies, driving digital tech-innovation in the field of B2B and B2C. HV has become the leading investor in Germany and is amongst the top 5 most prominent investors in Europe by means of size, deal experience, relevance, reputation and financial achievements in its market. HV always aims to connect with entrepreneurs early on. Throughout all fund generations, HV supported them to scale companies to some of today's fastest growing European companies that have an aggregated market capitalization of around €50 billion.

RFV is a €150 million investment fund of Rabobank, focusing globally on innovative Fintech and Agtech companies. RFV aims to invest directly in the early growth stage (series B) of companies that are disrupting or influencing the current business of Rabobank and indirect in leading general tech funds such as Holtzbrinck, Northzone, Speedinvest and Valar Ventures.

HV Holtzbrinck Ventures has invested in internet and technology companies since 2000. HV is one of the most successful and financially strongest early-stage and growth investors in Europe. More than €1 billion have been raised in multiple generations of funds. HV’s consistent approach to seek market leaders in the European tech ecosystem has resulted in more than 185 investments, including success stories such as Zalando, Delivery Hero, FlixMobility, SumUp and Scalable Capital. HV supports start-ups with capital between €500.000 and €50 million. This makes HV one of the few venture capitalists in Europe that can finance start-ups through all growth phases.

Published: July 1st 2020, 14:00 CET

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Press release Wed, 01 Jul 2020 14:00:00 GMT 267221
<![CDATA[Rabobank maintains number one position among diversified banks according to Sustainalytics]]> https://www.rabobank.com/en/press/search/2020/20200701-rabobank-maintains-number-one-position-among-diversified-banks-according-to-sustainalytics.html?utm_medium=RSS Sustainalytics, a leading global ESG research and ratings provider, has assigned an Environmental Social Governance (ESG) Risk Rating to Rabobank. In line with their methodology for rating the sustainable performance of Diversified Banks, Rabobank is ranked first out of 374 companies in the subindustry for a second consecutive year.

Sustainalytics is the global leader in sustainability research and ratings for institutional investors. Rabobank was assessed as having negligible risk across several ESG issues material to banks including ESG integration in corporate finance and responsible product offering. The assessment takes into account both the content of the company’s sustainability policy and how Rabobank applies it in practice in its services and approach to risk. Financial inclusion is also measured, such as initiatives to promote access to financial services for disadvantaged people. Rabobank also received full points on anti-discrimination and diversity practices.  Among Sustainalytics’s entire ESG assessment universe of more than 12,000 companies, across multiple sectors, Rabobank stands at number 58 as the highest scoring diversified bank.

Bas Rüter, Global Head of Sustainability: “The Sustainalytics assessment takes into account both the content of the sustainability policy and how the bank applies it in practice in its services and approach to risk. This result affirms not only our sustainability ambitions with Growing a Better World Together; it also shows that we really deliver on promises as a sustainable, cooperative bank. Basically, we put our money where our mouth is."

Rabobank will continue to work on sustainability topics, collaborating with Sustainalytics as an important benchmark and standard setting body.

Rabobanks’ ESG Risk Rating assigned by Sustainalytics, is in line with public perception about Rabobank’s performance. In the annual Sustainable Brand Index awards this May Dutch consumers voted Rabobank the “” in the category of Banking.

Published: July 1st 2020, 13:00 CET

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Press release Wed, 01 Jul 2020 13:00:00 GMT 267191
<![CDATA[Rabobank, Vestas and Windpark Zeewolde partner up to build Netherland’s largest onshore wind project]]> https://www.rabobank.com/en/press/search/2020/20200625-rabobank-vestas-and-windpark-zeewolde-partner-up-to-build-netherlands-largest-onshore-wind-project.html?utm_medium=RSS Windpark Zeewolde B.V., Vestas and Rabobank have closed contracts for turbines and financing for the Windpark Zeewolde project in the Netherlands.

Windpark Zeewolde B.V., a unique collaboration of more than 200 local farmers, residents and entrepreneurs of the Netherlands, has placed an order for 83 Vestas wind energy turbines totaling 322 MW for the wind project Zeewolde. The project is in the outskirts of Zeewolde, close to the IJsselmeer, on an area that covers over 300 square kilometers.

The wind park currently consists of more than 200 turbines which will be replaced by new Vestas turbines that will generate almost three times more energy with less the half the number of turbines, demonstrating the large potential in replacing older turbines with new and more efficient variants.

The financing of the windfarm will be arranged by Rabobank. Rabobank will provide both the junior debt and a senior debt (approx. EUR 500m) for the construction of the project. Rabobank was keen to support the financing of this project, due to its cooperative structure comprising of a large client base of the bank in addition to supporting the energy transition.

Vestas has developed a customised solution that comprises a mix of turbine variants from the 2 MW and 4 MW platforms and a 20-year Active Output Management (AOM 5000) contract, capable of maximising the annual energy production while meeting local restrictions.

"We are convinced that we have signed strong partners with Vestas and Rabobank with whom we can now realize the windfarm construction quickly and efficiently," says Sjoerd Sieburgh Sjoerdsma, Managing Director Windpark Zeewolde BV. “In October 2019 we already started with the construction of the substation and the wind farm infrastructure. This was based on the financing from our community showing the confidence and entrepreneurial spirit of our community. Now, with Vestas and Rabobank we can start the construction of the turbines”.

“I’m excited that our new customer Windpark Zeewolde B.V., chose Vestas as partner for such a unique wind energy project in my home country. It marks a great step for the renewable power supply of the region, and we are looking forward to, together with our partners, repower Europe’s largest community owned wind farm that is also Netherlands’ largest onshore wind project”, says Nils de Baar, President of Vestas Northern & Central Europe. “Leveraging customised wind energy solutions with lowest levelized cost of energy, this repowering project, for which more than 90% of the community living nearby has united as shareholders for, will almost triple the annual energy production.”

Rabobank was represented by Pieter Plantinga, Executive Director Project Finance during the process. He adds: “Watching tv, illuminating our houses, and nowadays working online from home: all available by the push of a button. Rabobank wants to ensure that when we press it, the consumed energy originates from renewable sources as much as possible. For that, we as a cooperative bank are willing to take financial risks if needed. Financing a wind farm of this magnitude requires months of effort from everyone involved. But it’s worth it, because this is a crucial step in achieving the goals of the Dutch Climate Agreement. Enabling the local community to profit from the revenues of park Zeewolde is a big plus and suits us as a cooperative bank.”

The deliveries of the wind turbines are expected to begin in the first quarter of 2021. The entire park will be completed in 2022, and it will be the largest onshore wind farm in the Netherlands and the largest community-owned windfarm in Europe.

Once repowered, the Zeewolde wind project will generate electricity for more than 250.000 local households.

Published: June 25th 2020, 13:00 CET

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Press release Thu, 25 Jun 2020 15:00:00 GMT 267116