Green deals double in 2019
ING's commitment to sustainable finance is reflected in the 60 sustainability improvement loans and green loans that were supported in 2019, plus 62 social sustainability bonds. This is an increase of 119% from 2018.
One recent example is ING's involvement in the largest green loan in the global transportation sector. The bank was sole green finance advisor as well as arranger and lender in the €1.1 billion syndicated green loan for Italo, the Italian private high-speed rail operator. Also, ING was sole green structuring advisor for the €500 million first green covered bond for Norwegian bank SR-Boligkreditt. And the bank helped draft a green bond framework that stipulates investments in green buildings as well as renewable energy and clean transportation.
“At this moment, there is more demand for green financing than there is for non-green. And we see that clients with a good sustainability rating also have a good credit rating. We truly believe that sustainable business is better business for everybody,” said Leonie Schreve, global head of Sustainable Finance at ING.
ING's work isn’t going unnoticed: the bank was ranked climate action leader by the leading global environmental disclosure platform CDP for the fifth year.