Rabobank: No Financing for Businesses Associated with Shale

Netherlands’ Rabobank refuses to lend to private farmers and firms with a stake in the shale gas industry, explaining the decision in the light of the alleged environmental and social implications of hydraulic fracturing operations.

Rabobank will not finance business dealing with shale gas extraction. It restricted access to credit also to farmers who lease their land to energy companies for shale gas operations.

According to the Dutch newspaper deVerdieping Trouw, the company’s spokesperson explained the decision referring to the difference between the US and the Dutch legislations.

“Here the state owns mineral rights. In the US landowners own also mineral rights. Their Dutch colleagues do not have the same right,” said the spokesperson.

Rabobank is s a full-range financial services provider founded on cooperative principles. It is a global leader in sustainability-oriented banking.