NIBC is a Dutch bank that offers corporate and consumer banking activities. The corporate banking arm covers a combination of advice, financing and co-investment activities, whereas the consumer banking department focuses primarily on residential mortgages and online retail saving deposits in Belgium, Germany and The Netherlands.[i] NIBC held €23,042 million assets as of the end of 2015.[ii]
NIBC’s sustainability policy excludes financing the manufacture, use, trade, stockpile or service of highly controversial weapons. NIBC considers nuclear weapons to be highly controversial weapons. NIBC uses the following definition of nuclear weapons: “the term Nuclear weapon includes the weapon as a whole, as well as its key component parts, specifically designed to form part of the nuclear weapon (e.g. nuclear warheads, missiles carrying the warheads, tailor-made electric/electronic systems, enriched plutonium / uranium, specifically designed engines and guidance systems). The ballistic missile submarines which are specifically designed to launch nuclear missiles are also considered to be a key component part of the nuclear weapons in the sense of this policy. Services such as testing and maintaining / upgrading of nuclear weapons qualify as servicing nuclear weapons and therefore are also covered by the armament policy criterion.”[iii]
NIBC applies the policy to “all products and services offered by NIBC”. The policy applies to whole companies, not only to the activities of producers related to nuclear weapons. [iv] NIBC makes use of a non-published exclusion list.[v]
In the previous update of this report NIBC was listed in the Runners-Up category for not applying their policy to nuclear weapon producing companies, only the activities of those companies. We commend NIBC for the policy change and welcome it to the Hall of Fame.
Congratulations NIBC!Read the petition
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I saw on www.dontbankonthebomb.com that you have a comprehensive policy prohibiting investments in nuclear weapons producing companies.
Financial institutions like yours are helping to build the stigma around these inhumane weapons, something that is urgently needed. Nuclear weapons are the only weapon of mass destruction that’s not explicitly outlawed through an international treaty- and thanks to your policy we can show how important and necessary it is that all of society act urgently to prohibit and eliminate nuclear weapons once and for all.
Thank you for your help in creating a nuclear weapons free world.
With kind regards,
[ii] NIBC, “Condensed consolidated financial report for the year ended 31 December 2015“, 9 March 2016, page 5. Available at https://www.nibc.com/fileadmin/user_upload/Documenten/Press_Releases/Financial_Press_Releases/2015/Q4_2015_Condensed_report_Bank.pdf, viewed 17 October 2016.
[iii] NIBC, “NIBC Sustainability Policy Weapons & Defense Sector Policy”, June 2016, page 2, available from https://www.nibc.com/csr/sustainable-business/sustainable-client-relationships.html?tx_rkdownloads_pi1%5Bdownload%5D=NIBC_Weapons_and_Defense_Policy.pdf&cHash=e36777badafe29639d1349c0e51bab5a, viewed 17 October 2016.
[iv] NIBC, “NIBC Sustainability Policy Weapons & Defense Sector Policy”, June 2016, page 3, available from https://www.nibc.com/csr/sustainable-business/sustainable-client-relationships.html?tx_rkdownloads_pi1%5Bdownload%5D=NIBC_Weapons_and_Defense_Policy.pdf&cHash=e36777badafe29639d1349c0e51bab5a, viewed 17 October 2016.
[v] NIBC, written response to Profundo dated 5 June 2014.