Finance as a Catalyst
Dafina Nonkulovska's Story
How Dafina Integrated Sustainability into Rabobank’s Core Processes Core Processes and Fostered a Culture of Environmental Responsibility
Dafina Nonkulovska is CFO lead for sustainability at Rabobank. In this role, Dafina works towards transforming the CFO role into CVO (Chief Value Officer). Dafina’s commitment for sustainability is rooted in a strategic, data-driven and results-oriented approach that aligns with Rabobank’s overall goals and the global challenge of addressing climate change effectively.
About Rabobank
Rabobank is a multinational banking and financial services company with strong cooperative roots headquartered in Utrecht, Netherlands. For over 125 years, we’ve joined forces with members and partners to build a future-proof society. Rabobank activates local networks, contributes to communities and supports the food and energy transitions. Our guiding principle: together, we accomplish far more than we ever could alone.
Sector: Banking
Employees: 50,000
Geography: Headquartered in the Netherlands, with operations globally
Website: www.rabobank.com
Challenges
faced
The abstract nature of sustainability numbers and metrics makes it difficult for Dafina to convey the importance of sustainability compared to day-to-day operations, leading at first to skepticism and resistance. Undeterred, Dafina works hard to help stakeholders understand why recording sustainability data matters and what the numbers represent in the larger context of the bank’s environmental impact.
Maintaining momentum and enthusiasm in a large company also poses a recurring challenge for Dafina, with the need create more allies to the sustainability cause to combat a business-as-usual mindset.
Actions
taken
Dafina’s journey to overcome scepticism and instil a deep understanding of sustainability within Rabobank began with a commitment to making abstract numbers tangible through relatable stories and scenarios. Through regular knowledge-sharing sessions such as “Sustainability Talks,” she framed sustainability metrics within a narrative framework, making them relevant to both, the overarching goals of Rabobank and the individual contributions of her colleagues.
Recognising that large corporations often struggle to move at pace, Dafina tackles this challenge by integrating sustainability into the core strategic and operational processes of the bank such as management reporting, performance management, budgeting, capital and/or asset allocation. She ensures that sustainability is a central focus of performance management, holding regular alignment meetings across the organisation to emphasise its importance.
Transparent communication is at the heart of Dafina’s approach, acknowledging data limitations while emphasising its value as a guiding light. In the face of resistance, she invited sceptics to participate in the process, encouraging them to understand the methodology and contribute their perspectives.
Resonance
of impact
Dafina’s emphasis on clear governance and transparent data lays the foundation for accountability and coordination of sustainability efforts. Setting quantifiable targets for carbon footprint reduction, particularly within sectors like agriculture, underscores Rabobank’s commitment to driving meaningful change. Through her leadership, Dafina has steered Rabobank towards a more sustainable future, where every decision and action is guided by a commitment to environmental responsibility.
With a large part of Rabobank’s clients and investments in agriculture, a sector with relatively high emissions, even small improvements here snowballed into big impact. As a result of Dafina’s efforts, Rabobank has implemented a guidance target or carbon budget for future investments.
By communicating transparently and effectively, her honest approach builds credibility and encouraged ongoing dialogue, highlighting the personal contributions of individuals to foster a sense of ownership. This also creates ambassadors for sustainability across the business.
This collaborative approach fostered trust and buy-in across different departments, facilitating smoother implementation of sustainability initiatives. By engaging colleagues and building consensus, Dafina’s warm and inclusive approach helps address concerns, build trust, and ultimately create allies, strengthening the foundation for change.
By integrating sustainability into performance management, Dafina ensures that sustainability is not a separate initiative but rather an integral part of Rabobank’s overall strategy and operations. This drives accountability and long-term impact, creating company-wide ripples far beyond her initial actions. Dafina’s story highlights the importance of celebrating the small actions that add up to create big wins, keeping the joy in driving change and building daily trust with those around you