Rabobank’s destructive financing of deforestation in Brazil

€ 0.7 billion in profits, € 66 billion in damages

Over the past 23 years (period 2000-2022), Rabobank’s financial support to Brazilian forest-risk sectors, including financing the Dutch livestock industry that depends on Brazilian soy, has increased sevenfold to € 8.8 billion in 2022 and generated € 717 million in accumulated gross profits based on € 1.9 billion in net interest income. However, the estimated environmental, health, and social damage caused by these financial flows to Brazilian forest-risk sectors is much higher: at least € 66 billion. Rabobank did not pay for these costs but externalised them to society. In all calculations, Rabobank’s financing of activities outside Brazil and the Netherlands that might also have an impact on Brazilian forest footprint were not considered. This implies that the estimates are probably ‘conservative’.
The analysis in this report is based on various assumptions and estimates by Profundo, as Rabobank has not been able to provide the requested data.

Read the full report here