We talked about the “why” of our approach to sustainability in our orientation towards sustainabilityand we have detailed “what” we do.

Just as important is how we do things: we collaborate, we listen, and we are transparent.

We collaborate

No single sector, much less a single bank, has the capacity to solve the world’s problems. We believe that an inclusive approach is the only way to have a significant positive impact. From climate to human rights to financial health, we seek to increase our impact through partnerships and coalition building.

For our climate approach we worked with the 2˚ Investment initiative (2DII) to develop an open source methodology to measure the most carbon-intensive parts of our loan portfolio and guide them towards achieving net zero by 2050. We then engaged personally and individually with over 40 banks interested in the work carried out by ING. . This led to 17 systemically important banks joining the pilot with 2DII.

Four of these banks joined us in our overall commitment to guide our loan portfolio under what we called the Katowice Commitment in December 2018. This then evolved into an agreement led by the ‘UN. Collective commitment to climate actionwhich was signed by more than 30 banks in September 2019.

We joined the Net Zero Banking Alliance in August 2021, and have updated our portfolio targets to align with global climate goals to achieve a net zero emissions world by 2050.

Human rights are also a topic we collaborate on, within the Thun Group, the OECD Advisory Group and the Equator Principles Steering Committee. We also participate in learning platforms and promote a common language between banks, for example through the Shift Financial Institution Practitioners Circle and the Shift Business Learning Program, to name just a few.

We listen

We seek open dialogue with our stakeholders, responding to their views and concerns. Their input helps us balance competing expectations, resolve problems in an informed manner, and most importantly, improve our business.

Retail customers, professional customers, employees, investors, NGOs, suppliers, supervisors and regulators are among our most important stakeholders. Rather than conducting one-off consultations on specific topics, we maintain an ongoing dialogue about our role in society, our products and services, our business performance and other issues. This is done both at the business unit level and globally. For more information on how we engage with stakeholders on the sustainability aspects of ING’s strategy, see our policy of dialogue with stakeholders.

Examples include our approach to materialitycustomer round tables; regular meetings with NGOs and other civil society organizations on topics ranging from climate change to animal welfare; targeted stakeholder engagement on specific policies within our environmental and social risk framework; and roadshows with investors on sustainability.

We are transparent

We don’t make empty promises. We go beyond commitments to focus on actions and progress. We communicate transparently about this so that we can be held accountable. We share our successes, but also our challenges.

For example, we report annually on the climate alignment of carbon-intensive sectors in our loan portfolio. We also provide dedicated updates on our approach to human rights and report on our sustainability progress in the annual report.

Memberships