ING signs Dutch Climate Agreement
ING was today one of the Dutch financial institutions that signed the Dutch Climate Agreement, which is the government’s interpretation of the Paris Agreement to keep global warming well below two degrees Celsius in the coming years.
All the Dutch banks, pension funds, insurers and asset managers that signed the agreement today will support the goal of reducing greenhouse gas emissions by 49% by 2030 compared to 1990.
The signatories will start reporting the climate impact of their financing and investments in 2020 and must have drawn up action plans to limit these by 2022 at the latest. The agreements will be recalibrated every five years.
This commitment is in line with ING's climate ambition as expressed in the Terra approach. In 2018, we announced we’ll align our €600 billion loan portfolio with the Paris Agreement targets to keep global warming well below two degrees Celsius.
ING Netherlands CEO Vincent van den Boogert signed the agreement on behalf of ING in the presence of the Dutch Minister of Finance in The Hague.
“As a financial institution, we can combat climate change by financing change, sharing knowledge and using our influence,” he said. “If ING wants to prosper in the future, we must also help our customers change their course. In this way we not only strengthen the resilience of our own company, but also the social resilience to climate change. Sustainability is inherent in our goal of empowering people to stay one step ahead in life and in business.”