Tibor Bodor
CEO
ING Bank
Financial institutions are the cornerstones of all healthy economy, and they have a major role in financing sustainability-related projects. For ING, sustainability is a way to go along with its corporate customers, and therefore, we consider the development of sustainability-linked products as our top priority
Applying the “green lens” to every financing opportunity
Industry: Financial services
Date: since 2018
Climate change
Solutions of the macro-sustainability challenges
Mitigation of climate change risks and flexible adaptation through effective monitoring, education and communication, and developing new technologies and business models
Further targets:
What´s the solution?
In the usual corporate financing structures, the environmental impact of the investment is not decisive for the lender. If the lender only takes the financial return on the investment into account, then the projects promoting sustainability are less attractive to the banks.
In Hungary, ING Bank has also started introducing credit products that encourage sustainability related improvements. Sustainable Development Loan is a freely usable loan with an interest rate which is defined by the debtor’s sustainability rating by an independent organization. Green Loan can be used to finance a predefined green project. According to today’s evolving international practice, projects regarding renewable energy, transport, water management, circular economy and green building can meet these criteria.
Business connection
The analysis of business connection is under development.
Results
The program has just been launched, therefore the results and impacts can not be measured yet.