ABN Amro Partners With Ecochain For Impact-Based Banking
ABN AMRO is launching impact-based banking, a proposition to help entrepreneurs accelerate their sustainability shift. By entering into a strategic partnership with Ecochain, ABN AMRO has gained access for its business clients to a unique tool. Ecochain is an innovative technology company that leverages unique software to combine sustainability data and financial data.
After a successful pilot project involving clients from a range of industries, ABN AMRO signed the contract with its new strategic partner Ecochain on 23 August 2019.
Fred Bos, Managing Director of Advisory Banking, says: “Ecochain has developed an exciting tool mapping a company’s entire life cycle, including its environmental footprint. This is then followed up by a review of financial optimisation and sustainable opportunities and the investment that would be required. This initiative should further aid us in helping our clients make their business more sustainable.”
Insight into environmental impact for clients
Many entrepreneurs are looking to make their business more sustainable, but they often lack objective insight into the environmental impact of their own business. Ecochain, an innovative technology company, has developed unique software that captures the link between sustainability and financial data, affording clients insight in their company’s footprint, including contributing processes and products. Drawing on these insights, ABN AMRO’s relationship managers can sit down with their clients and review these companies’ sustainability potential. And if they need funding, the data will produce a business case that will enable their relationship manager and Credit Risk or Asset Based Finance to assess whether they’re looking at a viable proposition. Ecochain’s software makes it possible to make their carbon savings certifiable, easily and digitally.
Friso van Lanschot, CEO of Ecochain Technologies: “ABN AMRO is our ideal partner, thanks to its ambition, people and network. Together we can market our environmental intelligence software faster and more broadly, and help companies make their business operations more sustainable and circular.”
Excellent pilot results prompt partnership
A first test run of the Ecochain software for ten clients immediately brought impressive results.
Jan de Ruyter, Sector Banker Agri, remembers: “The pilot project outcomes were impressive. We’ve managed to provide new insights for all ten clients to help them make their business operations more sustainable. Initial data scans indicated that carbon reductions of nearly 90,000 tonnes could be achieved through investments worth some 10 million euros – a reduction equal to a full year’s carbon emissions by 5,000 cars.”
Source: ABN Amro
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