ING to Steer to Net-Zero Climate

ING Bank joins the Net-Zero Banking Alliance convened by the United Nations Environment Programme Finance Initiative (‘UNEP FI’). ING seeks to manage loan portfolios whereby their contribution to global temperature increase in limited to a maximum of 1.5 °C above pre-industrial levels.  The bank aims for a ‘energy-positive’ commercial and residential real estate portfolios in the Netherlands. Over the next 12 months the bank will accelerate it’s progress on the net-zero pathway across a number of sectors increasingly closing the gap between current ambitions and net-zero ambitions for each.

The Net-Zero Banking Alliance brings together 53 banks from 27 countries representing €31.45tn of banking assets or 25% global banking assets. Members of the alliance are committed to aligning their lending and investment portfolios with net-zero emissions by 2050 while combining near-term action with accountability, this ambitious commitment sees banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines.

The Net Zero Banking Alliance was launched in April 2021, with a group of banks committing to align operational and attributable emissions from their portfolios with pathways to net-zero by 2050 or sooner. The coalition forms part of the Glasgow Financial Alliance for Net Zero (GFANZ), along with the Net Zero Asset Managers Initiative and the Net-Zero Asset Owner Alliance.