ING Direct 2004 Annual Report Download - page 38

36 ING Group Annual Report 2004
A growing number of investors and analysts recognise that
non-financial issues – such as how a company gets along with
interest groups, its treatment of employees and its relation
with local communities determine – a company’s risk profile
and its ability to create value for the company’s owners. ING
wants to pursue profit on the basis of sound business ethics.
ING’s ethical framework is based on respect for its key
stakeholders. Next to shareholders these are customers,
employees, business partners and society at large.
BUSINESS PRINCIPLES
The ING Business Principles serve as the main ethical compass
for our business activities. They describe our responsibilities
toward each stakeholder and they create a single standard
of ethical behaviour for everyone at ING.
The Business Principles were first articulated in 1999. They
were updated in 2004 to reflect regulatory requirements and
the changing business environment. We added a business
principle that explicitly endorses the Universal Declaration
of Human Rights. ING’s top-200 managers received a
management guide to help them define their role and
responsibilities concerning human rights and in 2005 they
will carry out a self-assessment of their business units.
The revised Business Principles also refer to ING’s new
Whistleblower Procedure, which was introduced in line with
the US Sarbanes-Oxley Act. The procedure allows employees
to make a complaint in case they believe an internal or
external regulation or any procedure regarding accounting or
auditing matters has been breached. The Business Principles
have been integrated into Live ING, a learning programme
for all ING employees worldwide to give them a better shared
focus on our strategic priorities and corporate culture.
Through such training, we are working to build a company
in which ethical behaviour is well-engrained.
OUR STAKEHOLDERS
In our effort to create shareholder value, ING weighs the
interests of all its stakeholders to the best of its abilities.
As a global financial institution, ING has a special role in the
economy. Our activities can have a significant impact on
markets as well as on individual players. Our shareholders
provide us with the capital we need to grow. For this reason,
total shareholder return is at the heart of ING's value-creating
strategy. Our customers represent all sections of society. They
put a significant part of their financial future in our hands and
it is our ambition to deliver on the confidence they have put
in us. Therefore, we want to provide quality products at fair
prices supported by good execution, exemplary service and
proper accessibility. In other words: good value for money.
Satisfied and motivated employees deliver better customer
service and drive our success as a business. We provide
competitive terms of employment, safe working conditions
and ample opportunities for professional and personal
development. ING wants to have a performance-driven
culture. We regularly hold employee surveys to determine
how our people feel about their job, management, work/life
balance and their reward. Furthermore, diversity in our
workforce is an important HR issue. ING believes in equal
opportunities and sees value-creating potential in diversity
because it creates a more dynamic climate. This can contribute
to better performance.
In 2004, ING added business partners as a stakeholder group.
First of all we want to be a reliable partner. We also want
to ensure that our cooperation with them, and the activities
that originate from this cooperation, do not conflict with
our values and ethical standards. That is why we updated
our General Terms and Conditions for Procurement and
communicated them to all our suppliers. They now include
ethical clauses related to environment, health and safety,
and child labour.
For society at large we want to be a good corporate citizen.
That is why ING is involved in many programmes that
contribute to community development and help vulnerable
groups. In 2004, we developed a new corporate sponsoring
and community policy. In 2005 ING’s community development
programme will be named ‘ING Chances for Children’, which
focuses on making education accessible for children.
CREATING VALUE AS A RESPONSIBLE COMPANY
ING IN SOCIETY1.2
OUR PERFORMANCE