It goes without saying that ING complies with national and international laws and regulations. But we do more.

In many of the countries that we operate, laws do not provide answers to important questions on issues like deforestation, pollution, child labour or weapons. That is why it is important to us to form our own opinion on these issues. ING will not invest in cluster bombs for instance, despite the fact that practically no country prohibits their production.

We have our own vision on ethical topics, the environment, people and society. This vision is translated in the policies we apply all over the world. By promoting continuous dialogue with our stakeholders – i.e. ING’s employees, customers and stakeholders, but also organisation engaged in issues concerning human rights or climate change – we are constantly evaluating our policies and adjusting them where necessary.

Although we do not oppose the defence industry as such, ING takes a firm stand against controversial weapons and the trade in controversial arms.

ING will not have dealings with companies in the defence sector when there is evidence that they make arms available to countries that are under a weapons embargo or to terrorists and other non-governmental armed groups. Furthermore, ING commits not to finance the trade of weapons to countries in which there is a clear risk that the weapons can be used for internal repression, serious violations of international humanitarian law or for any other purpose which cannot reasonably be considered consistent with normal and legitimate national security and defence.

In light of both international agreements banning anti-personnel landmines and cluster munitions and society’s general concern over depleted uranium ammunition, biological and chemical weapons, we consider these weapons to be controversial. ING will not finance the production, maintenance or trade of these weapons nor provide any financial services to companies involved in these kinds of weapons. ING will not invest its proprietary assets in controversial weapons companies and will, with the exception of discretionary mandates and trackers (ETFs), and wherever legally possible and independently enforceable by ING, ensure customer funds are not placed in such companies through ING managed funds.

Nuclear weapons have a different character than armaments such as cluster weapons and anti-personnel landmines. Ownership, production, proliferation and use of nuclear weapons are heavily regulated, monitored, and if necessary sanctioned by the international community. Due to the fact that nuclear weapons are regulated and not fully banned by the international community, many high tech companies are involved in various ways in the nuclear armaments programmes of their respective governments. ING considers nuclear weapons to be controversial weapons as they are indiscriminate and are likely to hurt civilians when used. We therefore do not finance nuclear weapons. However, we may finance the non controversial activities of high tech companies, such as civil aviation activities, if the company guarantees that ING funds will not be used for nuclear weapon-related activities.

The Equator Principles are a benchmark for the financial industry to manage environmental and social risk in project financing.

Introduced in June 2003 and adopted by 41 banks and financial institutions, the Principles have been a huge step forward for the project finance industry.

On 6 July 2006 ING and other financial institutions announced a revised version of the Equator Principles. Click here how the Principles have been expanded or download the full press announcement (pdf).

By adopting the new Principles, ING commits itself with renewed vigour to certain socio-environmental standards in project financing. But what exactly do the Principles mean?

Any project that falls within the scope of the Principles undergoes a risk assessment on its possible socio-environmental risks. In other words, these non-financial risks feature prominently in our overall risk analysis.

By addressing these risks ING lowers the credit risk of its own portfolio and helps clients design more socially and environmentally responsible projects.

A dedicated team is responsible for embedding the Principles within ING.

Operating independently from the commercial units, our EP Advisory Team provides training, guidance and compliance advice on implementing the Principles.

In all high risk transactions, the EP Advisory team not only advises the deal team on compliance with the Principles throughout the life of ING’s involvement in the transactions, but also advises decision making authorities on critical approval decisions.

The policy is designed to guide the financing of the Forestry and Plantation sector to minimise the impact on human rights, indigenous people, natural habitats and endangered species.

Industries covered by the Forestry and Plantations policy are amongst others pulp and paper mills, oil palm, soy, rubber, cotton, banana, tea, coffee, cacao, and trade of plantation products.

ING refrains from financing companies or their subsidiaries who are involved in deforestation and/or burning down of High Conservation Value Forests (HCVF)*.

ING refrains from engaging in the financing of plantations in UNESCO World Heritage Sites, IUCN protected areas and areas registered by the Ramsar Convention.

* High Conservation Value Forest as defined by the Forest Stewardship Council. The term refers to the primary and secondary forests of special value owing to biodiversity, the presence of unique ecosystems, the important function of the forest and the importance of the forest to the traditional local community and/or culture.

The policy is designed to guide the financing of the manufacturing and agriculture sector and focuses on labour rights related issues.

The policy is applicable to all entities operating in this sector, including:

a) Tea/coffee/cocoa

b) Textiles/clothing

c) Apparel, furniture

d) Toy production

Due diligence includes a reference made to the United Nations Universal Declaration of Human Rights (UDHR) and more specifically to the articles on equal opportunities, non-discrimination and labour rights.

The policy is designed to guide the financing of the natural resources and chemicals sector and amongst others refers to issues on labour rights, local communities, indigenous people, revenue transparency and biodiversity.

The policy is applicable to all ING Wholesale Banking engagements with entities operating in:

a) Up and downstream oil and gas activities (from exploration to petrol stations);

b) Exploration and development of mines, quarries, and/or processing of minerals, etc.

c) All chemical processing and development activities.

ING refrains from engaging in the financing of plants in UNESCO World Heritage Sites, IUCN protected areas and areas registered by the Ramsar Convention.

ING is not opposed to the industry as such, but our gambling policy restricts the financing of gambling activities to a limited number of countries where it is legal and stringent regulations are in place and properly enforced. ING refrains from client engagement and transactions involving internet based gambling.

ING adheres to a restrictive policy on pornography. Financing is allowed only in a very limited number of countries where it is legal, stringent regulations are in place and these regulations are enforced properly. All transactions in the sector are subject to stringent due diligence on amongst others fraud, money laundering and trafficking.

ING refrains from financing companies or organisations directly involved in animal testing for cosmetic purposes.

ING refrains from financing companies operating fur farms or clients involved in the manufacturing of fur products.