Agriculture

The situation
Agriculture is essential for the production of food. But it can also exhaust the soil, cause pollution and destroy nature. Some companies drive out indigenous people and flaunt labour rights. Dumping cheap subsidised western products pushes local farmers off the market, leaving them with no income.

The solutions
The negative effects of agriculture can be countered by seriously limiting pollution caused by farming and leaving protected natural areas untouched. What’s more, companies should respect the rights of labourers and indigenous people. Developing countries should be free to export their produce; developed nations should stop agricultural subsidies and dumping practices.

The ideal bank policy
The ideal bank:

Aims to promote products with an Organic or Fair Trade label, for example;
Challenges the agricultural sector to find solutions for famines and lack of food distribution;
Excludes funding of agriculture in protected natural areas;
Requires precautionary measures on genetically modified plants and animals;
Promotes respect for the rights of indigenous peoples and labourers;
Demands reduced use of pesticides, less greenhouse gas and ammonia emissions, and less water use;
Promotes minimal animal welfare measures;
Urges clients to set up joint initiatives with governments and NGOs to develop social and environmental standards for agricultural produce, like cocoa, coffee and sugar cane.

Score explanation:

Rabobank has minimum standards for labour rights, animal welfare, water use and biodiversity. It has clear policies on the financing of soy and palm oil production. Policies on financing cacao, coffee, sugar etc. are being developed.

Score explanation:
Triodos only finances certified organic agriculture. Intensive livestock industry and genetic modification are excluded. Triodos demands recognition of labour rights and requires organic, Fair Trade or other certification of international trade.

Score explanation
No policy.

Deze Eerlijke Bankwijzer is een initiatief van: