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Social and environmental issues may arise in
areas where general public interests and individual business
interests diverge. These issues vary over time and can be relevant
for different business units and activities. ING aims to approach
issues in an active manner. In cooperation with the involved
business units and the relevant stakeholders, we endeavour to bring
about a solution that is acceptable to the parties involved.
Some examples:
Financing Corvettes for Indonesia
ING was asked not to finance the supply of corvettes to Indonesia.
Pressure groups feared these vessels might be used for operations
involved in human rights violations. The vessels will be build and
used for coast guard services and to fight drug trafficking,
illegal fishery, and piracy.
The Dutch parliament has discussed the supply of the corvettes in
2004. The majority of the Parliament supported the supply. In June
2006, the Dutch government informed the Parliament on economic,
security and human rights issues in Indonesia. After thoughtful
consideration the government issued an export licence in October
2006.
Because of the purpose of the vessels and the due caution the Dutch
government exercised by issuing an export licence, ING decided to
finance the supply of the corvettes
Financing White Phosfor
ING applies strict criteria for companies directly involved in
controversial weapons like anti-personnel landmines, cluster bombs,
depleted uranium ammunition and biological, chemical or nuclear
weapons.
A civil society group drew attention to an investment made in
companies that supply a factory that produces white phosphor.
The investments were made on behalf of our customers. ING does not
own the shares and is not in the position to decide to either hold
or sell the shares. We will not invest our proprietary assets in
weapons-oriented companies that are directly involved in
controversial weapons.
For customers who wish to exclude defence industry securities from
their portfolio, we offer sustainable investment funds and
portfolio screening..
Business in Burma
In 1997, ING closed its Burma Representative Office. Since then, we
are no longer present in this country, nor do we conduct business
or finance projects in Burma.
Recently, pressure groups asked ING to broaden its existing policy
with regard to Burma. ING was requested to convince companies doing
business in Burma to stop their activities in this country. If the
companies involved chose to continue their activities in Burma, ING
was asked to divest its shares in these organizations or to stop
financial dealings with these companies.
After thoughtful consideration, ING considers the requested
addition to the current policy not feasible. In the international
business environment there are hundreds of companies with some form
of relationship with Burma, many of which are large international
conglomerates. ING is not able to exclude such an extensive group
of companies from its business portfolio.
ING respects the concerns being raised with regard to human rights.
In the ING
Business Principles - our internal code of conduct
which gives guidance on social, ethical and environmental behaviour
- we call on all of our 115.000 staff worldwide to respect human
rights.
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