ING’s Climate Progress Update includes the progress made in steering carbon-intensive sectors in its loan portfolio towards global climate goals.
Key highlights include:
• ING has assessed the sustainability disclosures of around 2,000 of its largest clients with an online tool it has developed, called ESG.X.
• ING will stop all new general financing to so-called pure-play upstream oil & gas companies that continue to develop new oil & gas fields. This policy is applicable with immediate effect. In addition, ING has decided to stop providing new financing for new LNG export terminals after 2025.
• ING has expanded the scope of its “Terra” approach to the aluminium and dairy sectors, bringing the total number of sectors in scope to twelve.
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