Tobacco has a long history of recreational use in society. In more recent years however, growing health concerns have prompted a shift from acceptance to exclusion. Costs related to tobacco-related sicknesses are tremendous, and millions of people die each year. The WHO Framework Convention on Tobacco Control (WHO FCTC), signed by some 180 countries, aims to cut 30% of tobacco consumption by 2025.
As a bank with sustainability at the core of our strategy, we recognise our duty to contribute to society’s wellbeing. ING’s biggest impact is through our financing, which is why we have decided to take the next step in our approach to tobacco.
ING will have withdrawn from the tobacco industry by 2023. This includes our exposure to the growing, trading, processing and manufacturing of tobacco products. While we will respect standing commitments to our clients, we will not accept new ones and will therefore gradually reduce our exposure to the tobacco industry to zero in the coming five years.
We underlined our commitment by signing up to the Tobacco Pledge (PDF 0,4 MB).
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- Mail to: Sustainability@ing.com