26 business clients ask ING to stop financing oil and gas
Readers of Dutch newspaper de Volkskrant saw a full-page letter today calling on the bank to stop financing oil and gas. The letter is signed by a group of 26 organisations including civil society groups, schools and small enterprises. The signatories collectively express their concern over the climate crisis and ask their bank to take responsibility.
Kees Zevenbergen, director of relief organisation Cordaid, says: "In the countries where Cordaid is active, from Yemen to South Sudan, climate change is already causing severe problems, like soil degredation, extreme droughts, and flooding. This impacts the life of many millions of people. Large financial institutions like ING are in a crucial position to radically change course."
Wouter Staal of sustainable food company YG (previously Yoghurt Barn): "Our company recently turned fully plant-based. Not because it's easier, but because it improves our climate impact. By joining this call on ING, we hope to inpsire our bank to take action too."
Of all Dutch financial institutions, ING is by far the largest supporter of fossil fuel projects and companies: on average EUR 9 billion every year. More information on why ING is not yet where it should be can be found here.
Does your company or organisation bank with ING, and do you want to support this action? Find suggested steps for action on the website of FossielVrij (in Dutch).
Reposted from the original article in Dutch on the FossielVrij website here.
See ING's response (also in Dutch) here. Earlier this week, Dutch investigative reporters reveleaded that ING's pension fund divested most fossil fuel companies in 2022, but stayed quiet about it to not embarrass the bank.