ING Bank Romania has published a report on the sustainability projects carried out in 2022. The company says that it will continue to invest in projects aimed at the environment and financial health, its two strategic directions in the field of sustainability.
Progress of sustainability actions in 2022 on business lines:
– Wholesale Banking: ING Bank supported bonds of 500 million Euros and loans (syndicated or bilateral) of 160 million Euros, continuing to apply the Terra methodology that addresses the most polluting sectors financed by ING, with the aim of directing the loan portfolio towards keep the rise in global temperatures to 1.5 degrees Celsius. Among the additional actions taken in 2022, part of the Terra approach is the decision to no longer grant new funding for oil and gas exploration and exploitation.
– Business Banking: ING Bank has developed a guide for the easy identification and processing of sustainable transactions. In 2022, the bank granted the first sustainable credit for SME entrepreneurs, already followed by other financings, totaling 17.5 million Euros, in the areas of renewable energy and circular economy. Among them is a 6 million Euro loan granted to the Romanian group Promateris, leader in the compostable packaging segment in Central and Eastern Europe, for the development of production capacity. The other transactions were dedicated to financing several clients in their efforts to become more sustainable and energy independent through the use of renewable sources, namely solar energy.
– Retail Banking: in 2022 the bank offered preferential conditions for financing the purchase of solar panels, photovoltaics or plug-in electric or hybrid cars, or buildings with energy certificate A and construction year at least 2021.
The previous year marked the transition to recycled plastic cards, as it complemented solutions that limit the consumption of natural resources: virtual cards and contactless withdrawals at ATMs, or payment tools such as SoftPos.
Among the main measures in 2022 are actions to improve the efficiency of energy and gas consumption (in accordance with the recommendations of the European Commission, to reduce by 15%), a dedicated waste and recycling management system in the headquarters, but also an important stage for the transition of its own fleet of cars, which currently has 75% of electric and hybrid vehicles.
ING Bank continued its partnerships with civil society and offered 1.4 million Euros for projects that support financial health and environmental protection, but also for charitable actions or humanitarian aid for Ukrainian refugees.
