What role does ING play here?
Gravenstein: As ING, we have the greatest positive influence on climate protection through our financing. With the money that we lend to our private and business customers. For this reason, we committed in 2018 to managing our total loan volume of around 700 billion euros in line with the Paris climate targets. We call this the Terra Approach.
Sustainability is an integral part of our strategy – and is reflected in all our decisions – as a lender, as an investor and through the services we offer our customers. We want to use our influence in a positive sense and finance changes, share knowledge and gain partners to join our path. The only way to make real change is to do it collectively within the financial sector. For this reason, we have actively worked with other banks to pilot the methodology with 2DIIi. That is why it is also open source, open to all banks.
Our goal is to enable people to act independently and responsibly in their private and business life.
If we at ING want to continue to be successful in the future, we must not only reduce our own direct and indirect footprint, but also support our customers in managing the risks and opportunities that environmental challenges bring with them. In doing so, we not only strengthen the resilience of our own company, but also social resilience to climate change.
We’ve also been collaborating with other banks and experts to define a standard way to do this across the financial sector.