APAC sustainable finance set for record year: ING Sustainable Finance Pulse (Issue 7, 2025)

Singapore, 29 September 2025 – ING has released Issue 7 of its quarterly Opens in a new tabSustainable Finance Pulse, following the publication of its Opens in a new tabClimate Update 2025. The report highlights robust global issuance, resilient supply dynamics, and accelerating momentum in electric vehicles (EVs) and charging infrastructure—underscoring ING’s continued leadership in sustainable finance.

Global trends: Resilience amid divergence

Year-to-date global sustainable finance issuance reached USD 852 billion—slightly below H1 2024’s USD 909 billion, but broadly consistent with levels seen in 2023 and 2022. Q2 alone saw USD 432 billion in issuance, outperforming second-quarter volumes from the previous two years.

Regional dynamics continued to diverge. In the US, issuance contracted amid reduced policy support, while the EU shifted focus toward competitiveness. ESG policy development slowed across several jurisdictions, adding complexity to the global landscape. In contrast, Asia-Pacific stood out—on track for a record-breaking year, driven by strong issuance from corporates and financial institutions.

Despite macroeconomic uncertainty, supply levels remain healthy. Transition debt is expected to grow as regulatory frameworks mature. While the global sustainability journey remains non-linear, clearer standards and improved market infrastructure continue to build confidence and unlock capital.

ING’s sustainable finance performance: Strongest first half on record

Against this backdrop, ING mobilised €68 billion in sustainable finance in H1 2025—a 19% increase year-on-year. Q2 alone contributed €38 billion, up 16% versus H2 2024. This growth was reflected across regions, with EMEA accounting for 61% of volume, the Americas 26%, and APAC 13%, where momentum continues to build.

Sustainability-linked loans remained ING’s leading product category, followed by green bonds and green loans. Green loans saw a 48% increase in transaction count and a 17% rise in volume compared to Q2 2024—driven by rising demand for green and sustainability focused financing across various sectors. ING saw standout growth in sustainable lending and debt capital markets across APAC.

Martijn Hoogerwerf, head of Sustainable Solutions Group at ING APAC, said: “2025 holds strong promise for sustainable finance – demand is strong, and transition-focused capital is gaining ground. At ING, we’re seeing increased appetite for sustainability-linked structures and green loans, particularly in sectors navigating complex decarbonisation pathways. Our role is to help clients structure credible, scalable solutions that meet both market expectations and long-term climate goals.” 

Anand Sachdev, country manager for ING Singapore and head of South & Southeast Asia, said: “Singapore continues to anchor sustainable finance activity across Asia, with growing depth in lending and capital markets. Clients are looking for more than funding—they need strategic guidance, transparency, and tools to execute their transition plans. ING is focused on delivering that, especially in high-impact areas like EV infrastructure, renewables, and supply chain decarbonisation.”

Deepali Bhargava, chief economist for ING APAC, said: “Despite a complex policy landscape, the market continues to show resilience. Investor appetite and healthy supply remain strong. While the path forward may be nuanced, the market’s adaptability and momentum offer optimism for continued progress.”

Looking Ahead

ING remains committed to financing the transition to net zero by 2050. The bank is on track to deliver €7.5 billion in renewables financing annually by year-end and continues progressing toward its €150 billion sustainable finance target by 2027. In 2024, ING supported 835 sustainability deals, with another 400 closed in H1 2025—mobilising capital to accelerate clients’ decarbonisation plans.

A key focus is electric mobility, where global momentum is building. China is leading the EV transition, with EVs expected to reach nearly 50% of new car sales by 2025—up from over 40% in 2024. Europe projects 27%, while the US trails at 10%. Despite rising adoption, global fleet penetration remains low at 5%, and infrastructure gaps persist—particularly in Southern and Eastern Europe, where Germany records 23 EVs per charger. ING is helping bridge this divide through scalable financing and strategic partnerships in the EV charging sector, laying the groundwork for a cleaner, more connected transport future.

ING also became the first global systemically important bank to have its targets validated by the Science Based Targets initiative (SBTi), reinforcing its leadership in credible climate action.

Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. See how we’re progressing on Opens in a new tabhttps://www.ing.com/climate.