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: Policy research

To illustrate our broad expertise, covering many different economic sectors, commodities, sustainability themes and countries, this page gives an overview of the different projects executed by Profundo over the years. In the menu, you can filter the projects by thematic area. Each project is described briefly and where available the project portfolio - such as reports, brochures or presentations - is provided. Attention is also given to the exposure generated by the project in the media, in politics and elsewhere.

When you are looking for a specific report, we recommend to go to our Portfolio page.

We analyse the financial parameters of companies and assess how companies and their financiers could be affected in different scenarios by Environmental, Social and Governance (ESG) risks related to deforestation, climate change emissions, human rights abuses, resource depletion, health impacts and other sustainability issues.
We analyse the various human rights and other sustainability risks in international commodity supply chains and identify what different stakeholders can do to foster sustainable development of value chains in agriculture, forestry, livestock, energy, fisheries and mineral sectors.
We analyse how companies are financed by banks, shareholders and others financiers, to assess what financiers could do to foster sustainable corporate practices. Also, we dig into ownership structures and the schemes companies have set up to minimise tax payments.
We assess and benchmark responsible investment and credit policies of banks and investors and we advise on how policies can be improved and implemented through screening, voting, engagement and exclusion strategies.

April 2019

April 5, 2019
Fair Finance Guide Thailand
Using the methodology developed by Profundo together with the civil society organisations collaborating in the Fair Finance Guide International network, the Thai Fair Finance Guide coalition assessed and ranked the responsible credit and investment policies of the main Thais banks for the first time. Profundo provided training and advice to support their assessment. Want to learn about Fair Finance Guide? Watch this video:

March 2019

March 14, 2019
Fair Pension Label
Assessment of the sustainability policies of ten Dutch pensionfunds. The aim is to make pension funds use their (financial) power to encourage companies to act responsibly.

February 2019

February 21, 2019
Research note on Dutch banks and corruption
Corruption has significant negative consequences in the political, social and environmental spheres. Banks have the responsibility and duty to address corrupt practices like bribery at the companies they are lending to or investing in. From 2014 until 2017, the Dutch banks ABN Amro, ING and Rabobank, provided loans for a total of USD 8.9 billion to four companies that are involved in severe corruption cases. In addition, as of March 2018, ABN Amro, Rabobank and Van Lanschot had invested a total of USD 566 million in shares of these companies

January 2019

January 8, 2019
Rabobank's Meat Fever
Being a farmers' bank, Rabobank has invested a lot in the cattle industry - 85% of the Dutch agro industry is financed by this bank. Commissioned by Greenpeace Netherlands Profundo has analysed more than 80 (policy)documents of Rabobank.

December 2018

December 13, 2018
Fair Bank Guide Netherlands, 17th update
The Fair Bank Guide is a consumer's tool. More and more consumers consider it of great importance that their bank invests in a sustainable way. The Fair Bank Guide website ( tries to involve consumers in realising the Fair Bank Guide's goals.
December 3, 2018
Insuring Coal No More, The 2018 Scorecard on Insurance, Coal and Climate Change
This report ranks world’s 24 biggest insurers on their policies towards fossil fuel (more specifically on coal), underwriting and investing, and other initiatives to tackle the climate change. In Europe, most major insurers have by now taken action on coal. In the US, none of the nine leading insurers assessed have taken any action on coal. Companies like AIG, Chubb, Liberty Mutual and Berkshire Hathaway continue to underwrite and invest in the industry. Asia-Pacific insurers also continue to insure and invest in coal, although there are the first signs of change
December 3, 2018
Worldwide Investments in cluster munitions: a shared responsibility
This is the 9th edition of Worldwide Investments in Cluster Munitions. This report shows that two major US arms producers that featured in the 2017 edition of the report, Textron and Orbital ATK, have declared publicly that they no longer produce any cluster munitions. Orbital ATK even declared publicly that cluster munitions have no place in the arsenal of a modern army. These developments are at least partly the result of the pressure from the financial sector.

November 2018

November 23, 2018
Banques Françaises, les fossiles raflent la mise
The countries, parties to the 2015 Paris Climate Agreement, have agreed to limit global warming to a maximum of 2°C, and to try to keep it below 1.5°C. Despite the urgent need to act, the measures taken since then are not sufficient to meet these objectives. In the pace of current emissions, we risk exceeding 1.5°C in the coming decades. In 2016 and 2017, the most important French banks (BNP Paribas, Crédit Agricole, Société General, BPCE, La Banque Postale and Crédit Mutuel-CIC) have invested € 42.9 billion in fossil fuels and only 11.8 billion euros in renewable energy.
November 22, 2018
Fair Bank Guide Sweden - Lägg om växeln
This report provides an overview of the investments and loans of the seven largest banks in the energy sector in 2016 and 2017, the years after the Paris Agreement. Within the framework of the climate agreement, money flows must change to become sustainable. The aim was to see whether the agreement had an effect on the loans and investments of the banks in the energy sector. That is why it is compared with the 2009-2014 figures

September 2018

September 17, 2018
Assessment of the CSR policies of three insurance groups: CZ, Menzis and VGZ
This report for the Fair Insurance Guide assesses, for the first time, the CSR policies of the three insurance groups which the three biggest health insurers, active on the Dutch market, are part of.

July 2018

July 2, 2018
Draw the Line
Profundo has provided information for the publication Draw the Line. This is a report about shady investments of Dutch banks in palm oil.

June 2018

June 26, 2018
Assessing the response of insurance companies to severe human rights abuses in the extractives sector
This case study ‘Assessing the response of insurance companies to severe human rights abuses in the extractives sector’ evaluates the response of the seven largest insurance groups active in the Netherlands to a selection of ten cases with severe human rights abuses by companies in the extractives sector. Each of the insurance groups is linked with one or more of the selected extractive companies through their investments in shares and bonds of these companies.

May 2018

May 23, 2018
Fair Finance Guide Germany, 2nd update
Using the methodology developed by Profundo together with the civil society organisations collaborating in the Fair Finance Guide International network, the German Fair Finance Guide coalition assessed and ranked the responsible credit and investment policies of the main German banks for the third time. Profundo provided training and advice to support their assessment. Want to learn about Fair Finance Guide? Watch this video:
May 15, 2018
Kids marketing of unhealthy food
The Stop Unhealthy Food Marketing to Kids Coalition, active in The Netherlands, fights for the right of every child to grow up in a healthy environment. As a partner of the Coalition, the Dutch Heart Foundation has commissioned Profundo to assess whether the kids marketing policies of food companies and supermarket chains active in The Netherlands meet the standards of the Coalition.

March 2018

March 30, 2018
Fair Insurance Guide 5th update
Fifth update of the Fair Insurance Guide. In this report the policies of sevenlarge insurance companies in The Netherlands with regard to a.o. climate change, health, nature, human rights and animal welfare have been compared.
March 7, 2018
Don't Bank on the Bomb
Don't Bank on the Bomb provides a detailed overview of the worldwide investments in production, maintenance and modernisation of nuclear weapons. The reports contains a Hall of Shame of financial institutions that invest in nuclear weapons producers. The report also contains a Hall of Fame of financial institutions that do have responsible investments policies with regard to nuclear weapons. Also there is a list of Runners-Up, describing institutions that are improving their policies.


Report: PAX: Don’t Bank on the Bomb

Website: Weapon Free Funds

Asahi (Japan): Loans to nuclear weapons manufacturers, seven companies in Japan Published ICAN

Avvenire (Italy): La denuncia. Banche e fondi investono sempre più in armi nucleari

BankTrack: New worldwide armed banking database available

Business Insider: Your retirement account probably funds nuclear weapons — here are the top 20 biggest companies and investors

Dagens Næringsliv (Norway): Oljefondet får refs for ikke å ha solgt seg helt ut av atomvåpen-relaterte virksomheter

Daily Mail (United Kingdom): Nobel-winning ICAN condemns surge in nuclear arms investments

Dnevnik (Slovenia): Pokojninski skladi za jedrske bombe

Euronews: More funds spurn nuclear arms, financing still strong - report

Fast Company: These Companies Are Financing The Return Of Nuclear Terror

Frankfurter Allgemeine (Germany): So finanzieren deutsche Banken mit ihren Milliarden die Rüstungskonzerne

Geo (Tuvalu): Nobel-winning ICAN condemns surge in nuclear arms investments

I&PE: AP1 divests from nuclear weapons, tobacco and fossil fuels

ICAN: We are making big news today

Il Cambiamento (Italiy): Ecco il rapporto 2018 “Don’t bank on the bomb”: sempre più soldi per le armi nucleari

Knack (Belgium): SP.A richt zich tot banken: 'Schrap nu eindelijk investeringen in kernwapens'

Liputan 6 (Indonesia): 20 Perusahaan Top Dunia Ini Disebut Jadi Investor Produsen Senjata Nukl

Neo Magazin Royale mit Jan Böhmermann (ZDF): Spar Wars - Angriff der Fondskrieger

New York Times (Verenigde Staten): More Funds Spurn Nuclear Arms, Financing Still Strong-Report

Newsweek (United States): Trump's threat of nuclear war with North Korea is making a lot of money for these weapon companies

Norsk Folkehjelp (Norway): Investerer i atomvåpen

PAX: Rapport: Nederlandse financiële instellingen als ING investeren nog steeds flink in kernwapens

Puls Biznesu (Poland): Banki inwestują miliardy w firmy produkujące broń jądrową

Pulse (Nigeria): Nobel-winning condemns surge in nuclear arms investments:

Reuters (United States): More funds spurn nuclear arms, financing still strong: report

Shephard Media: ICAN condemns surge in nuclear arms investments

Stuff (New Zealand): Global report calls on the NZ Super Fund to do better on nuclear weapons-makers

Süddeutsche Zeitung (Duitsland): Banken investieren Milliarden in Atomwaffen-Produzenten

Swissinfo (Switzerland): Report criticises banks for investing in nuclear weapons

The Mainichi (Japan): Resona bans lending to those developing, making or possessing nuclear weapons

The Nation: Nuclear Weapons Pose the Ultimate Threat to Mankind

The Nation: Rebuilding the Antinuclear Movement

The National (Scotland): Scots urged to put pressure on institutions funding nuclear arms

The National (Scotland): Stop funding Armageddon – why nuclear investment must end

The New Republic: The Nuclear Industry’s Winners and Losers

US News (United States): More Funds Spurn Nuclear Arms, Financing Still Strong: Report

Yahoo News (Australia): Nobel-winning ICAN condemns surge in nuclear arms investments

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