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ING Group - Netherlands banktrack contact
Luc Weyn - Netwerk Vlaanderen, Belgium bank contact
Harm ter Haar Romeny, Corporate Responsibility & Sustainable Development - INGgroup, Netherlands Leonie Schreve, Advisor Policy Desk at Corporate Social Responsibility-Equator Principles- INGgroup, Netherlands ![]() ING Headquarters Amsterdam
key facts
headquarters
ING House, P.O. Box 8101000 AV Amsterdam Netherlands total assets
€ 1,163 billion (2009) key regions of operation
China, Eastern Europe, India, South Asia, Western Europe supervisor
De Nederlandsche Bank CEO/chair
Mr. Jan H.M. Hommen CEO number of employees
107,000 key sectors
all sectors ownership
Publicly listed, dutch government support about ING Group
ING (an abbreviation of Internationale Nederlanden Groep) is a Netherlands based international financial services company and one of the world’s largest savings banks. It is active in banking, investments, life insurance and retirement services. Its internet banking outfit ING direct is active in the US market. voluntary standards and commitments
Carbon Disclosure Project
The CDP impels organisations to record their carbon footprint in daily activities. Encouraging enterprises to calculate and disclose their carbon impact, this initiative highlights the challenge for financial institutions to determine exactly how much carbon output can be attributed to financing.
Carbon Principles
Set of guidelines for banks and their U.S. power clients to evaluate and address carbon risks in the financing of electric power projects.
Climate Principles
Voluntary framework to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance & re-insurance; corporate banking; investment banking & markets; project finance.
Equator Principles
The EPs are a set of guidelines, based upon the Performance Standards and guidelines from the IFC, the World Bank's private sector lending arm for private banks to asesses and mitigate risks in project finance. Banks use the Principles to guide internal operating procedures for transaction for specific projects. Although the EPs are an important step to raise overall standards of financiers and projects in the developing world, they currently fall short on transparency and governance requirements.
Extractive Industries Transparency Initiative
The verification and full publication of company payments and government revenues from oil, gas and mining is supported by the EITI. Financial institutions can participate and encourage resource-rich countries to support the initiative that aims to defeat poverty, corruption and conflict caused by weak transparency and accountability.
Global Reporting Initiative
As the name suggests, the GRI aims to standardise good practice in transparency. GRI provides companies with guidelines to organise their annual report with reporting indices and standards addressing environmental, social and economic issues that business ought to address when telling the world about its performance.
UN Global Compact
The UN Global Compact is a set of ten principles that companies may sign voluntarily. Signatories promise to avoid complicity in human rights violations, adhere to labour standards, protect the environment and avoid corruption. The G8 countries urge companies to participate in this initiative, and with over 2900 companies signing up, the Global Compact has momentum. A voluntary and network based framework, the Global Compact actively promotes peer review and stakeholder participation.
UNEP Finance Initiative
UNEP is the 'voice of the environment' for the United Nations system, promoting international cooperation in the field of the environment. Issues concerning the financial community are addressed by the UNEP Finance Initiative which promotes investment in clean and renewable energy by financial institutions and other investors. Financial insititutions wishing to join must sign one of two Statements (for financial institutions and a separate one for the insurance industry).
UNEP Principles for Responsible Investments
UNPRI is a set of six principles direct institutional investors may adopt to consider environmental, social and corporate governance issues when investing. Voluntary and aspirational in nature, UNPRI has since its inception in 2006 attracted 200 signatories, representing US$8 trillion worth of investments.
Wolfsberg principles
Since the turn of the century a group of twelve banks known as the Wolfsberg Group have collaborated to improve ethical standards. The principles provide guidance on money laundering, corruption and the financing of terrorism. They have been produced to address deficiencies in areas 'yet to be fully articulated by lawmakers or regulators'.
ING Group has also developed additional sustainability policies. You can find them below, or under 'documents' in the menu. sustainability policies of ING Group
2010 sector and issue policies
General BankTrack comments on policies ING Group ING has developed a framework for corporate responsibility throughout its business. It starts with the ING Business Principles, on which a range of in-depth policies are based for daily activities. ING Environmental and Social Risk policies are used in its business lines to manage financial and reputational risk and to help clients to be more socially and environmentally responsible. ING has shortly described the following policies: Forestry and Plantations Sector Policy, Manufacturing & Agriculture Sector Policy, Natural Resources (Oil, Gas and Mining) & Chemicals Sector Policy, Defence Policy and Fur Policy. Those that provide enough information to be accredited any points are commented below. But in most cases these summaries are too short to get a good picture of the criteria for ING's investments. ING's Environmental Statement is targeted at the group's operational activities, and not on its clients' impacts
contact
Canada | Canadian Tar Sands | oil and gas | active file
- international - | Cluster Munitions producers | arms | active file
Kazakhstan | Kashagan oil project | oil and gas | active file
Laos | Nam Theun 2 | dams | active file
Chile | Patagonia Dams: HidroAysén | dams | active file
- international - | Baku-Tbilisi-Ceyhan oil pipeline | pipelines | on record
Peru | Camisea pipeline project | oil and gas, pipelines | on record
United States | Dynegy coal power plants | energy, fossil fuel based | on record
Indonesia | Grasberg Mine | mining | on record
BankTrack has identified controversial issues with the companies listed below that require attention from ING. contact
Freeport McMoRan | United States
NHPC | India
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