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Wholesale Banking

ING makes another stride to decarbonise the shipping industry

ING has joined over 150 shipping industry leaders to urge world governments to deliver the policies that will supercharge shipping decarbonisation and make zero-emissions shipping the default choice by 2030.

Close up of a container ship

The signatories for the Global Maritime Forum’s (GMF) Call to Action for Shipping Decarbonization represent the entire maritime value chain, including shipping, cargo, energy, finance, ports, and infrastructure. In conjunction with the UN General Assembly and ahead of climate negotiations at COP26 in Glasgow on 1 November, ING together with the other signatories is calling on governments to deliver the policies and investments needed to reach critical tipping points in decarbonising global supply chains.  

In support of ING’s role in the GMF’s initiative, Andrew Bester, head of ING Wholesale Banking, said, “The shipping industry plays a crucial role in the world economy and should take responsibility to reduce its carbon footprint to meet global sustainability targets. With this Call to Action we are supporting  the Net-Zero Banking Alliance commitment   and simultaneously strongly encourage governments and policymakers to establish regulations and incentives that support the sector in its net-zero ambition.” 

Signatories of the Call to Action for Shipping Decarbonization call on world leaders to: 

  • Commit to decarbonising (net-zero) international shipping by 2050 
  • Support industrial-scale zero-emission shipping projects through national action 
  • Deliver policy measures that will make zero-emission shipping the default choice by 2030 

This is the latest in ING’s drive to green the shipping industry following reporting its climate alignment score for its shipping portfolio under the Poseidon Principles at the end of last year. This GMF initiative gives an additional dynamic to our client discussions. More insights on our drive for sustainable shipping finance can be found in our recently released Integrated Climate Report.