ING has released its annual Climate Report, which outlines the impact of their financing on climate change and how climate change affects their business. The report highlights their efforts to steer carbon-intensive sectors in their loan portfolio towards global climate goals, engage with clients to support their transitions, and assess climate risks while taking action to mitigate them. ING CEO Steven van Rijswijk emphasizes the urgency of addressing climate change and the importance of collective action. The report also mentions ING’s commitment to sustainability and their progress in financing sustainable activities. Key takeaways include ING’s role in setting sector financing standards, their targets for the oil & gas value chain, integration of climate considerations into decision-making, and expansion of their approach into various sectors. ING also calls on governments and regulators to provide guidance and incentives for a faster transition to a low-carbon economy. The report serves as a reflection on progress made and a roadmap for future improvements and collaboration.
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