Davos 2018: climate leadership and circular economy
25 January 2018
It’s time again for the World Economic Forum’s (WEF’s) annual meeting in Davos, where leaders from governments, corporations and society get together to try and improve the state of the world.
ING is once again present with CEO Ralph Hamers, Head of Wholesale Banking Isabel Fernandez and Sustainability Head Leon Wijnands.
Climate finance champion
ING believes banks have a duty to see how their financing can help support the energy transition and combat climate change. Ralph Hamers will take on the role of ‘climate finance champion’ in the Alliance of CEO Climate Leaders, announced in a session in Davos this week. Six other CEOs will take on ‘champion’ roles in other areas.
This Alliance is an informal network of CEOs that was established and strengthened with the help of the World Economic Forum ahead of the Paris Agreement in 2015. The climate finance leadership role means that Ralph will be more visible and vocal on financing climate action from now on, a topic that’s part of ING’s approach to sustainability.
Circular economy accelerator
The circular economy remains a hot topic at Davos and beyond – shifting from a ‘take, make, waste’ model to ‘reduce, reuse, recycle’. This transformation is often especially challenging for medium-sized companies.
Last year at Davos, ING volunteered to lead the set-up of a ‘circular supply chain accelerator’ as a member of WEF’s Platform for Accelerating Circular Economy (PACE). The accelerator is meant to help medium-sized companies in the supply chain of large multinationals to speed up their development of circular business models.
Since financing is only part of the answer, we teamed up with Accenture and Circle Economy (an organisation dedicated to accelerating circularity) and collaborated with public and private stakeholders such as the European Investment Bank to develop the concept.
Now, at Davos 2018 we announced that we’re ready to start the first round of the accelerator, in the building and construction sector.