Release of the 2011 ING in Society report

ING’s 2011 sustainability report, ING in Society, has been released detailing the company’s sustainability performance for the past year. It details the company’s stand on ethical, social and environmental issues, and it illustrates how ING uses its influence to promote change supported by data, case studies and comments from stakeholders.

Following recommendations from our stakeholders, this year’s report contains a number of improvements, including more detail on stakeholders’ views about performance and reporting. It also has more information on how we engage with customers, non-governmental organisations (NGOs), governments, regulators, shareholders and other stakeholder groups.

In the Chairman’s Message, Jan Hommen said that we further refined our Environmental and Social Risk Policy framework in 2011. For example by initiating a fishery policy and implementing the new OECD Guidelines for Multinational Enterprises, as developed by the UN Global Compact Office and the OECD Secretariat.

“Taking good corporate citizenship one step further, it is our ambition to contribute to positive change. This means that we are stepping-up our efforts to provide innovative financial solutions to the major social funding and investment challenges, in areas such as energy transition and health. Our research teams actively explore the business case for sustainability,” he said.

As is the case each year, there were some notable achievements. Some of the highlights from the 110-page report include:

• ING was again included in the 2011 DJSI World Index
• Sustainability function now directly reports to ING’s CEO
• ING operated 100% climate neutral
• ING IM introduced an new fund, the ‘ING Sustainable Credit Fund’
• Partnership with UNICEF prolonged for three years
• 118,101 children were provided with access to quality education through the ING – UNICEF partnership in 2011

The five-percent growth target in sustainable assets under management wasn’t reached. ING’s sustainable assets under management decreased 20 percent in 2011. The main reason for this decrease is that one of the funds in IM, a large mandate, has ceased to be included. The portfolio of Groenbank also decreased in 2011 following the Dutch government’s decision to reduce tax breaks for investments in ‘green’ funds.

Click here to download the 2011 Sustainability Report “ING in society”.  The Dutch version will be available as of 14 May.