Informal guidance regarding collaboration between banks with regard to sustainability reports

Dutch banks are allowed to collaborate with regard to their sustainability reports and to increase the comparability thereof. In the initiative of the Dutch Banking Association (NVB), banks work together to create a digital platform, which seeks to explain some of the sustainability criteria (ESG criteria), on which banks need to report. In that context, they look at, for example, what data is needed, and what calculation methods are suitable and reliable to use.

The NVB had asked the Netherlands Authority for Consumers and Markets (ACM) to examine whether the collaboration is allowed under the competition rules. ACM has informally assessed the collaboration in accordance with its Policy Rule regarding ACM’s oversight over sustainability agreements, and has not found any objections. ACM currently does not see the collaboration having any negative consequences such as price increases, quality reductions or the exchange of competition-sensitive information. The participating banks base the common interpretation of the ESG criteria on objective sources, which they list on the digital platform. This will ensure the process is transparent. Participation in the collaboration is on a voluntary basis, and any bank that wishes to participate is able to do so. Also, each bank draws up their own reports and decides for themselves on what ESG criteria they report or do not report.

• Agreements with other businesses regarding sustainability (in Dutch)
• Collaboration check (in Dutch)