ING’s Climate Targets Gain Validation from SBTi
Overview
ING’s climate targets have been validated by the Science Based Targets initiative (SBTi), confirming they align with global efforts to limit warming to 1.5°C. The bank’s climate strategy focuses on reducing carbon emissions across its portfolio and financing the transition to a low-carbon economy.
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SBTi Validation: What It Means
SBTi is a globally recognized framework ensuring corporate climate targets are aligned with scientific climate goals.
ING’s targets cover emissions from its lending portfolio, a key area for financial institutions.
The validation signals ING’s commitment to measurable and transparent progress in reducing carbon emissions.
Validation reinforces ING’s long term sustainability strategy and accountability.
Key Climate Targets
ING aims to reach net-zero emissions in its portfolio by 2050.
The bank focuses on reducing emissions in high-impact sectors such as energy, real estate, and transport.
By 2030, ING targets a 50% reduction in the financing of upstream oil and gas compared to 2019 levels.
Intermediate targets have been set for sectors such as steel, cement, and aviation. This ensures gradual progress is being made.
How ING Plans to Achieve These Goals
Steering its lending portfolio towards sustainable projects and companies.
Phasing out financing for fossil fuel-intensive businesses while increasing investment in renewable energy.
Working closely with clients to support their transition strategies and emission reductions.
Expanding green finance initiatives, including sustainability-linked loans and bonds.
Impact on Clients and Investors
Businesses seeking loans from ING will need to now align with climate-friendly policies.
Investors can expect increased transparency on ING’s climate impact and progress.
Clients in carbon-intensive industries may face stricter lending criteria but will receive guidance on transitioning to sustainable models.
The Bigger Picture
ING is now the first global bank with a validated SBTi, setting an example for other financial institutions.
ING’s progress supports global climate goals and reinforces the financial sector’s role in emission reductions.
It aligns with growing regulatory and stakeholder expectations for banks to take climate action seriously.
By securing SBTi validation, ING strengthens its position as a leader in sustainable finance. Its commitment to reducing emissions will drive meaningful change in the financial sector and encourage businesses to accelerate their transition toward a low-carbon future.
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