#Help finance group free#
We need to rethink how we use raw materials and resources to create an economy free of waste and emissions. We need to change the way we produce and consume. The circular economy offers a systemic response to the climate crisis by both reducing emissions and increasing resilience to its effects. This includes ramping up funding to projects that advance renewable energy, low-carbon buildings, low-carbon transport, sustainable water and wastewater management and the circular economy. In 2017, ING committed €14.6 billion to climate finance, which we aim to double by 2022 for organisations that help combat climate change and positively impact society and the environment. We have issued the largest green Schuldschein to date with a German car manufacturer, and we help others issue green bonds too – in 2019, we supported 62 green, social and sustainability bonds and 61 sustainability improvement loans. To support the strong growth of our Sustainable Finance portfolio and to meet the green funding needs, we designed a Green Bond Framework in line with the ICMA Green Bond Principles, which meets the highest standards on transparency and disclosure. This way, we encourage and reward clients who are already sustainable as well as clients working to become more sustainable. We continue to launch products aimed at encouraging companies to get measured on ESG goals, such as the world’s first sustainability improvement derivative and the world’s first sustainability improvement capital call facility. We help originate, structure and execute projects which support sustainable development in areas such as the circular economy, renewable energy, waste, and water. Our Sustainable Structured Finance team acts as a laboratory for new sustainable business models that need financing in Europe, Middle East and Africa. The better their ESG performance, the more attractive the terms of the loan will be to them. We link the loan’s interest rate to a company’s environmental, social and governance performance (ESG).
We finance sustainable projects through green loans, green bonds, and other innovative products and financing structures such as our S ustainability Improvement Loan, which we pioneered back in 2017. We have financed billions of euros of renewable energy projects while saying ‘no’ to certain companies and sectors, and ‘yes, but’ to others, outlining sustainability improvements they have to make based on our ESR framework. ING aims for the automotive sector portfolio to outperform the market (in terms of carbon intensity) in the short term.ING has joined the Poseidon Principles, committing to support the shipping industry’s ambition to reduce CO2 emissions by 50% in 2050.ING has the ambition to align its Dutch commercial real estate portfolio with the below two-degree goal by 2040 – 10 years ahead of target date.ING aims for a net energy positive mortgage portfolio by 2050.ING commits to close to zero coal-fired power generation and thermal coal mining by 2025.ING has been climate neutral since 2007.This will enable banks to take climate impact into account in financing and investment decisions. We also urge governments to work towards an effective price on carbon emissions and to stimulate enterprises and institutions to publicly disclose their carbon emissions and forward-looking transition strategy. We call upon governments to create incentives for long-term investments by setting science-based targets to mitigate climate change and to develop alternative energy sources. Finally, we use our influence and get involved in policymaking to make a difference on a large scale.Our global expertise in various sectors allows us to guide clients towards embedding sustainability in their business models. We take this opportunity and responsibility to direct funds towards sustainable projects. We share knowledge in our role as a conduit between clients who have capital and clients who need it.As a financial institution we can have more impact by helping our clients to become more sustainable through sustainable financing. We finance change, because being sustainable is not just about reducing our own footprint, it is in all the choices we make-as a lender, as an investor and through the services we offer our customers.As a financial institution, we can play a role by financing change, sharing knowledge and using our influence. That is why our responsibility is to use our financing, advisory products and services to actively support clients transition to new sustainable business models that will ensure their success in the future.
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