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ING has set ambitious climate targets, aiming for a 44% reduction in Scope 1 and 2 GHG emissions by 2030 and 100% renewable electricity sourcing. The bank plans to cut financed emissions in sectors like oil, gas, steel, and aviation, while phasing out coal financing by 2025. These targets have been validated by the SBTi, marking a significant step for financial institutions in climate action.
ING Group has become the first global bank to have its net-zero targets validated by the Science Based Targets initiative (SBTi), committing to a 44% reduction in absolute scope 1 and 2 emissions by 2030 and covering 67% of its portfolio with scope 3 targets. The bank's sustainability strategy includes phasing out financing for new coal projects by 2025 and halving greenhouse gas emissions from upstream oil and gas companies in its loan portfolio by 2030. This validation marks a significant step in aligning financial institutions with climate science and supporting a low-carbon future.
ING has received validation from the Science Based Targets initiative (SBTi) for its climate targets aimed at reducing greenhouse gas emissions across its operations and client portfolio, including key sectors like fossil fuels and aviation. This recognition positions ING as the first global systemically important bank to achieve such a milestone, underscoring its commitment to climate action and sustainable finance. The bank plans to continue supporting clients in emission reductions and financing innovative technologies for a low-carbon economy.
Anne-sophie Castelnau
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ing sets ambitious climate targets with validated science-based commitments
13:40 31.03.2025
ing becomes first global bank with validated net zero targets
14:03 27.03.2025
ing achieves validation of climate targets by science based targets initiative
01:00 26.03.2025
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