For more than a decade we have been measuring and managing our own footprint, disclosing our carbon footprint since 2005 and ING has been climate neutral in our operations since 2007. In 2015, we updated our approach, resulting in the ING Environmental Programme, including concrete targets and board level oversight, see https://www.ing.com/ING-in-Society/Sustainability/Our-own-operations/Environmental-Programme.htm
With regard to the climate impact of the clients we finance, you can find our approach here, https://www.ing.com/ING-in-Society/Sustainability/Our-Stance/Climate.htm
On the risk side, we have a strict Environmental and Social Risk Framework that has been integrated in our due diligence process, see https://www.ing.com/ING-in-Society/Sustainability/Sustainable-business/Environmental-and-social-risk-policies.htm This includes policies that specifically relate to climate impact, such as our recently strengthened coal policy, accelerating the reduction of our financing to coal power generation, reducing our exposure to close to zero by 2025, see https://www.ing.com/Newsroom/All-news/ING-further-sharpens-coal-policy-to-support-transition-to-low-carbon-economy.htm
Green financing activities date back to 1996 and in 2014 we launched an integrated ‘sustainable lending approach’ (see attached document). This approach directs financing towards the more sustainable clients (opportunity side).
See above. Also, with regard to advocacy, thought leadership and partnerships we partnered with other companies, research institutes and CSOs via platforms such as the World Economic Forum to join forces in climate action. Furthermore we are an active member of several networks/organisations related to climate change action and we voice our stance by endorsing climate action commitments, see https://www.ing.com/Newsroom/All-news/Sustainability-news/Snws-1/ING-Statement-on-Climate-Action.htm
In the Netherlands we are involved in the development of the Energie & Klimaatakkoord (Energy and Climate Agreement), which should also result in climate-related legislation.
See above. On top of that, we took on an active approach in the transition to the circular economy, see https://www.ing.com/ING-in-Society/Sustainability/Sustainable-business/Circular-economy.htm and https://www.ingwb.com/insights/themes/circular-economy
Also, ING just published the new Annual Report, which contains the latest information on e.g. the implementation of the FSB-TCFD Recommendations, climate-related target setting connected to our WB portfolio and an issue/policy overview, in which for instance our updated coal policy is mentioned. See https://www.ing.com/Investor-relations/Annual-Reports.htm
In the early years of sustainability (1990s, early 2000s) climate change action wasn’t yet generally understood and accepted. That has changed completely: after An Inconvenient Truth and especially following the Paris Climate Agreement, there is ‘momentum’ in the world to jointly address climate change. Regulatory developments on the one hand and the realisation that sustainable, climate-proof business is good, future-proof business, made it easier to align commercial and societal interests.
Approach climate action always from a risk and opportunity side, it’s not about doing less business, but about doing better business.
Our employees and clients expect us to play an active role, as well as other stakeholders such as politicians, regulators and CSOs. We here they value steps we take like the updated coal policy and also that they feel we can always do more, see https://www.ing.com/Newsroom/All-news/Are-we-doing-enough.htm Therefore we keep an open dialogue and keep working on new steps in this area, such as the recent announcement that ING’s CEO Ralph Hamers will take on the role of World Economic Forum Climate Finance champion, see https://www.ing.com/Newsroom/All-news/Davos-2018-climate-leadership-and-circular-economy.htm