ING

The financial institution discloses its trade association memberships and positions on sustainability-related lobbying activities. It does not make political contributions and has a stewardship policy that supports environmental transitions and social best practices. Additionally, the institution states that it does not support new fossil fuel projects and has a strategy to phase out existing support lacking alignment with a 1.5°C trajectory.

Time-bound targets for climate solutions are established, and progress is monitored. Key sectors, clients, and investees for engagement on climate and nature-related impacts are transparently identified, with partnerships formed to influence positive actions. Moreover, the institution provides examples of how its offerings support climate adaptation and resilience. It also discloses operational data by country and the results of assessments of its products, services, and capital.

The financial institution could enhance its transparency in several areas. Firstly, it could disclose how it calculates a living wage for the regions it operates in. When identifying material sustainability impacts across its value chain, it has room to expand on its process and the objective criteria and evidence used for impact identification and prioritization. Regarding stakeholder engagement, while it mentions involving stakeholders to align lobbying and public policy with its sustainability strategy, it ought to provide more details on specific actions and the nature of this involvement.

In relation to nature-related impacts, although it refers to sectors and areas affected, it can further clarify the connection between its products, services, and capital and the prioritized impacts. It also has the opportunity to disclose a comprehensive strategy for nature protection and restoration, especially in priority sectors. The institution discloses a portfolio breakdown by sector, including those prioritized for nature impacts. However, it could go deeper by detailing the actual consequences of its offerings in these sectors.

Additionally, when reporting on green and sustainability-linked loans to ease nature pressure, it should also reveal the total amount and/or share of its products, services, and capital dedicated to nature-positive solutions. Finally, it is recommended that the institution discloses the income group breakdown of its clients and beneficiaries and details its processes to prevent divestment from low-income and lower-middle countries as a result of its sustainability strategies.

This scorecard refers to information in English which was publicly available by July 15 2024. AuM and Total assets are stated in USD for comparability and have been calculated based on reported local currency values multiplied by applicable IMF currency converter values.