ING Direct 2006 Annual Report Download - page 28

CO2 neutral
ING wants to pursue profi t on the basis
of sound business ethics and respect for
its stakeholders, as they expect us to act
ethically. ING is increasingly embedding
corporate responsibility practices into its
daily business activities.
Responsible insurance
Customers’ trust is important to ING’s
legitimacy. Many of our fi nancial products
and services, such as mortgages and life
insurance, cover a long period of time. To
earn that trust, our information needs to be
thorough, accurate and easy to understand.
ING is committed to providing sustainable
retirement solutions. To this end, we have
entered a research partnership with the
World Bank and the OECD on privatised
pension systems in developing and
transitional economies. First results of
the partnership are expected in late 2007.
Responsible banking
We use Environmental and Social Risk
Policies to ensure that companies that
request fi nancing are not involved in
areas incompatible with ING’s
environmental, social or ethical values.
The Equator Principles, a fi nancial industry
benchmark for managing environmental
and social risk in project fi nance, apply to all
project fi nancings over USD 10 million.
Corporate responsibility
ING continuously analyses
and reviews its role in
international society and
aligns its business strategy
accordingly.
Taking responsibility for the impact we have
on the environment is important to ING. We
plan to match our commitment with action.
ING is aiming for carbon neutrality, or net
zero CO2 emissions by the end of 2007. This
entails reducing our overall energy use and
buying more ‘green’ electricity. Any remaining
CO2 emissions by year-end 2007 will be
compensated through reforestation.
ING feels a special responsibility towards
providing people in developing countries
access to fi nancial products and services
through microfi nance, which also offers
new market opportunities. In India, for
example, ING Vysya’s rural offi ces issue
credit and savings products to women
and provide wholesale credit to
microfi nance institutions.
Responsible asset management
ING has EUR 600 billion in assets under
management, of which EUR 195.5 billion
are proprietary assets. We have a duty to
invest these assets in a responsible manner.
ING’s global voting policy governs how ING
exercises all its voting rights for third-party
and proprietary assets worldwide.
The annual screening of companies directly
involved in controversial weapons resulted
in several companies being removed from
ING IM’s proprietary portfolio.
Community development
ING Chances for Children is a company-
wide programme aimed at giving children
in Brazil, Ethiopia and India access to
primary education. In 2006, we raised
enough funds for the education of some
52,000 children for one year. Our target
for 2007 is to help 115,000 children.
Environment
ING focuses on the three areas that
have the greatest direct impact on the
environment – energy, paper and business
travel. Business units are encouraged
to take responsibility at the local level.
In 2007, ING will go ‘carbon neutral’.
In 2006, ING met its target to reduce
carbon emission levels by 30% compared
with 2005 levels.
ING fi nanced the construction and
operation of a carbon emissions
distribution network from a refi nery to
greenhouses. It required an investment
of EUR 70 million, realising a carbon
emissions reduction of 170,000 tonnes.
Looking ahead
In 2007 ING will continue to develop
and strengthen its corporate responsibility
strategy. We remain focused on
responsible business practices, further
embedding corporate responsibility
within business units, and monitoring
the environmental impact of our
business operations.
Our performance
continued
ING Group Annual Review 200626