Following a successful pilot, ABN Amro has partnered with Dutch technology firm Ecochain to launch impact-based banking designed to help businesses become more sustainable.
By teaming up with Ecochain, ABN Amro aims to help create sustainable business through impact banking for its clients. In explaining the initiative, the bank stated that while businesses are keen to become more sustainable they often have no objective insight into the environmental impact they make. Ecochain’s tool addresses this issue, which in turn will help ABN Amro’s clients make their business more sustainable.
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Ecochain’s Environmental Intelligent Platform combines sustainability data with financial data. It can map a firm’s entire life-cycle and provide insights into its environmental footprint, processes, and products. This helps users gain insight into where the maximum environmental impact occurs in the production chain. The platform highlights the sustainability options that are available and how they can be financed. This analysis serves as an alternative to bulky life-cycle analysis reports. The software also allows the creation of carbon savings certificates digitally.
The move is part of ABN Amro’s wider corporate social responsibility efforts. The bank has set a target of investing a minimum of €1bn in circular assets by 2020, with the aim of cutting carbon emissions by 1 million tonnes.
In recent years, many factors have pushed sustainability towards the top of any company’s agenda. Tightening regulation, rising consumer demand, and more volatile markets are all having a notable impact. ABN Amro embracing Ecochain’s solution will be a win-win situation for the bank’s business clients. They will be able to maximize the sustainability impact of their products and services while minimizing their life-cycle impact.
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By GlobalData
