Materiality: focusing on what matters most

... min read

To improve as an organisation we need to identify, understand and closely manage our performance on the most important topics for our stakeholders, balancing their interest when we make decisions.

ING has been regularly conducting a materiality analysis since 2011. This provides insights into trends, business risks and opportunities that influence our ability to help us to prioritise ESG objectives and incentives.

The most recent materiality analysis process and results are disclosed in ING’s 2023 annual report and are subject to limited assurance by our non-financial auditor KPMG.

Overview of material topics

The topics with the highest priority for stakeholders and the biggest estimated impact on our business or on society appear in the visual below. All topics shown in the top right corner of the circle are considered material and high priority.

Our approach and performance on each material topic can be found in ING's 2023 annual report. The outcomes of our materiality analysis help us review our management approach and assess where we can improve.

2022 Materiality Matrix

How ING approached the materiality analysis

ING conducts the materiality assessment in accordance with the Global Reporting Initiative (GRI), and therefore is required to determine its material topics in line with GRI standards. The process, outlined in the below picture, examined relevant internal ING documentation and sought in-depth analysis on peers, industry trends and regulation. We’ve incorporated the views of stakeholder groups in the impact assessment. The outcome of this process has resulted in the determination of material topics that ING reports on.

Materiality process

Our global stakeholders

We serve customers in over 39 countries and have a great number of stakeholders, each with different expectations. We have a proactive stakeholder engagement approach. Read more on our integrated approach to stakeholder engagement.

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