Rabobank appoints Baarsma as boss of CO2 bank

Rabobank has appointed economist Barbara Baarsma as CEO of Rabo Carbon Bank. This is a new business unit, where - as the bank describes - carbon is the currency. Rabobank wants to work closely with agricultural entrepreneurs in this regard.

The cooperative bank announced this on Monday. In the long run, customers can turn to the Rabo Carbon Bank (RCB) not only for financial transactions, but also for buying and selling CO2 credits at the bank. Together with agricultural entrepreneurs, the bank develops projects for CO2 storage in trees and soil. The company also mediates between parties that store CO2 and companies that want to reduce or compensate their emissions.

Realizing a revenue model for the bank
Under the leadership of Baarsma, Rabobank will accelerate and expand this initiative, the bank explains. "With the Rabo Carbon Bank we are realizing a new revenue model for the bank with which we want to accelerate the move to a climate neutral economy and stimulate a future-proof food system. This is an excellent opportunity for our cooperative bank," says Baarsma in a statement from the bank. know.

According to Baarsma, Rabobank not only has a worldwide network in the Food & Agri sectors, but also serves the major players in the market who want to get started with their CO2 emissions. "We work with them to reduce their emissions and offer them validated CO2 storage options with the Carbon Bank."

Agroforestry Initiative
Rabobank launched its first Carbon Bank product at the end of January: an agroforestry initiative in African countries. This focuses on tree planting by 15 million smallholder farmers, accounting for annual CO2 storage from 2025 of about 150 MtCO2 eq (about 0,5% of annual global emissions). These farmers sell the units of bound carbon to companies, who can use them to offset their emissions. According to Rabobank, this CO2 storage not only offers farmers a new source of income, it also improves their agricultural land through the trees and generates additional income through, for example, fruit harvest.

Since 1 January 2019, Baarsma has worked as chairman of the board of Rabobank Amsterdam. The process of finding a successor for this position has started. Baarsma caused quite a stir in the agricultural Netherlands in October last year when she was appointed as soil envoy.

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