ING provides update on climate action approach, accelerates customer engagement efforts Page 1

ING provides update on climate action approach, accelerates customer engagement efforts

ING today published its annual Climate Progress Update. The update shows how we are working with our clients to help them transition to a low-carbon economy. It also includes our progress in steering the most carbon-intensive sectors in our loan portfolio towards global climate goals – our ‘Terra’ approach. As a bank, the most impactful way for us to contribute to the transition is through financing: working with clients on their transition to net zero while financing the technologies and solutions needed for a sustainable future. And because the global transition must include everyone, we are also finding new ways to empower people to stay ahead of climate change.

“I am proud that our approach to climate change continues to evolve year on year,” said Steven van Rijswijk, CEO of ING. “Over the past year, we have taken several important steps to improve the way we engage with customers in their transition to net zero. We have assessed the sustainability information of around 2,000 of our largest customers with an online tool that we have developed. This gives us the basis for more data-informed discussions with our customers about their progress and how we can support them in their transition and reduce their emissions. The urgency of climate change is becoming increasingly clear and ING wants to play a leading role in accelerating the global transition to a low-carbon economy. We all have a role to play and we can all make a difference for current and future generations if we work together towards the same goals.”

To assess the disclosures of approximately 2,000 wholesale banking clients, we have used a specially developed tooling called ESG.X. We plan to make this tooling available externally to accelerate the efforts of our colleagues and clients. From 2026, after two years of disclosure reviews and more strategic engagement with our clients, we will have a more robust understanding of how they are progressing. On that basis, we will continue with business as usual or, for those unable or unwilling to progress, apply more stringent conditions on a case-by-case basis or consider stopping funding altogether.

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