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USR's statement on VU's cooperation with Deutsche Bank

7 March 2023
Deutsche Bank is the main bank of VU Amsterdam, through which a large part of university transactions flow. Deutsche Bank is also currently listed in 22nd place in a ranking of banks which invest highest in fossil fuel industries.*

Vrije Universiteit Amsterdam is strongly committed to match the UN’s Sustainable Development Goals (SDGs). Therefore, VU Amsterdam has ambitious sustainability goals, in the field of education, research, and implementation in the organisation. Having Deutsche Bank as VU Amsterdam’s principle bank does not match these ambitions. Therefore, the University Student Council and VU Green Office have requested a transition to a bank which better aligns with the university's sustainability goals.

VU Amsterdam acknowledges the fact that the collaboration with Deutsche Bank is not in line with the SDGs and has explored the possibilities to change to a more sustainable bank. However, the outcome for now is that changing banks is not an option in the near future, mainly due to contractual obligations VU Amsterdam has with Deutsche Bank. Changing banks at this time would come at high costs, which will endanger the conducting of business that VU Amsterdam currently practices. Instead of changing banks VU Amsterdam is actively lobbying to change Deutsche Bank from the inside, with hope that these efforts will allow Deutsche Bank to come closer to the ambitious goals that VU Amsterdam has.

*Banking on Climate Chaos, 2022

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University Student Council (USR)

Vrije Universiteit Amsterdam, Main Building
StudentenD0k, room 0D-12
De Boelelaan 1105
1081HV Amsterdam

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  • Jeannetta van Baarsen
  • Administrative Secretary