Green investments granted tax-free status in Holland -- ECOSUSTAINABLE COMMUNITY

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Subject: Green investments granted tax-free status in Holland

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EcoNews Canada (Summary)
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Date Posted: 05/21/02 5:33
Author Host/IP: myoon0.connect.com.au/210.8.232.4
Summarised from an item entitled 'Green investments granted tax-free status in Holland', in EcoNews (subscriptions for a donation, from EcoNews, 2069 Kings Road, Victoria V8R 2P6, Canada; e-mail: gdauncey@islandnet.com). The item is credited as deriving from an article in the European newspaper.

In Holland, where the whole country has signed on an ambitious Green Plan with widespread support from industry as well as environmental groups, the government last year declared that all revenues from investments in approved green projects would be tax-free.

The move triggered such an explosion of interest that Rabobank, the first Dutch bank to launch a green investment find, was unable to meet the demand, since too few projects met the government's approval standards. The government therefore widened the scope of the measure to include general nature protection projects and sustainable construction programmes, and banks now have two years to meet the requirement that at least 70% of their green funds should be invested in environmentally friendly projects. (Many green funds seek to stabilise their portfolios with 'neutral' investments in bonds and software industries.)

'The Green Bank will give loans to green businesses at below market rates'
As a result of the change, the Postbank, Holland's largest retailing bank, is preparing to set up the first 'Green Bank'. Postbank Green intends to offer fixed interest rates, and loans will be granted at below market rates to increase the chances of green projects succeeding. Investors will get a lower return on their savings, but the tax-free status will make up for it - so in effect, the banks are passing the benefits of the tax-free status onto green business. The other Dutch banks are expected to join in the battle for billions of guilders by establishing their own green banking funds.

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>Summarised from an item entitled 'Green investments >granted tax-free status in Holland', in EcoNews >(subscriptions for a donation, from EcoNews, 2069 >Kings Road, Victoria V8R 2P6, Canada; e-mail: >gdauncey@islandnet.com). The item is credited as >deriving from an article in the European newspaper. > >In Holland, where the whole country has signed on an >ambitious Green Plan with widespread support from >industry as well as environmental groups, the >government last year declared that all revenues from >investments in approved green projects would be >tax-free. > >The move triggered such an explosion of interest that >Rabobank, the first Dutch bank to launch a green >investment find, was unable to meet the demand, since >too few projects met the government's approval >standards. The government therefore widened the scope >of the measure to include general nature protection >projects and sustainable construction programmes, and >banks now have two years to meet the requirement that >at least 70% of their green funds should be invested >in environmentally friendly projects. (Many green >funds seek to stabilise their portfolios with >'neutral' investments in bonds and software >industries.) > >'The Green Bank will give loans to green businesses at >below market rates' >As a result of the change, the Postbank, Holland's >largest retailing bank, is preparing to set up the >first 'Green Bank'. Postbank Green intends to offer >fixed interest rates, and loans will be granted at >below market rates to increase the chances of green >projects succeeding. Investors will get a lower return >on their savings, but the tax-free status will make up >for it - so in effect, the banks are passing the >benefits of the tax-free status onto green business. >The other Dutch banks are expected to join in the >battle for billions of guilders by establishing their >own green banking funds.
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