ING Groep (ING) has released an update.
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ING Groep is intensifying its climate action and client engagement to support the transition to a low-carbon economy, as detailed in its annual Climate Progress Update. The bank has ceased new financing for pure-play upstream oil & gas companies and will stop new financing for LNG export terminals after 2025, while also adding the aluminium and dairy sectors to its ‘Terra’ approach for climate-aligned financing. ING is also developing tools such as ESG.X to assess client sustainability disclosures and plans to apply stricter financing conditions or disengage from clients not making adequate progress toward net-zero emissions.
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