ING Direct 2009 Annual Report Download - page 21

ING Group Annual Report 2009 19
We extended the scope of the Defence policy to include all our
business activities: not just lending and proprietary assets but also
ING-managed funds (index trackers excluded). Although we do not
oppose the defence industry as such, ING takes a firm stand against
controversial weapons and the trade in controversial arms.
In light of both international agreements banning anti-personnel
landmines and cluster munitions and society’s general concern over
depleted uranium ammunition, biological and chemical weapons,
we consider these weapons to be controversial. ING will not
provide financial services to companies involved in these kinds of
weapons. ING will not invest its proprietary assets in controversial
weapons companies and will, with the exception of discretionary
mandates and trackers (ETFs), and wherever legally possible and
independently enforceable by ING, ensure customer funds are not
placed in such companies through ING managed funds.
DEVELOPING GREEN PRODUCTS
We strive to meet the growing demand from customers for
products and services that are environmentally friendly and
socially responsible as well as generate a good return. To meet
these demands, ING offers several funds and products. Examples
are sustainable investment funds, such as so-called thematic funds
which enable clients to invest their money in microfinance projects,
renewable energy or in projects contributing to a sustainable use
of water.
In 2009, ING Retail in the Netherlands entered into a partnership
with Igogreen to offer car insurance customers the opportunity
to offset their car’s CO2 emission with investments in sustainable
projects such as renewable wind and biomass energy. The amount
of sustainable assets under management was EUR 2,524 million
in 2009.
CLIMATE CHANGE ACTION
Environmental protection is a fundamental part of our commitment
to responsible business and ING is doing what it can to help find
solutions for climate change. For example, along with nine other
Dutch banks, we issued a joint statement appealing to participants
at the Copenhagen climate conference to reach clear agreements
on sustainable energy. We also called on the Dutch government
to create favourable investment conditions for a swift transition
to sustainable energy sources. To focus greater attention on the
financing of and investment in sustainable energy, we are
evaluating our portfolio and assessing opportunities.
GLOBAL CHALLENGE
As part of the ING Chances for Children programme, we
organise an annual initiative featuring employee volunteering and
fundraising initiatives for children and education-related projects.
Called Global Challenge, it is held on or around 20 November, the
day the United Nations adopted the Convention on the Rights of
the Child. The 2009 challenge was a resounding success, with
employees once again using their creativity and drive to come
up with a wide array of successful fundraising plans.
There was record participation and more funds were raised than in
2008. While the number of countries in which ING has operations
declined in 2009 compared to 2008, the number involved in the
Global Challenge actually rose, from 29 in 2008 to 33 in 2009.
an awareness campaign for all employees, our 200 most senior
managers have signed up to the principles. Every single ING
employee will be held accountable for adhering to them.
MORAL AND ETHICAL STATEMENT
The renewed ING Business Principles more than cover the principles
of the Dutch Banking Code with respect to moral and ethical
conduct. Our Executive Board members have signed a statement
with the promise to respect and enforce the ING Business
Principles. In addition, the members of the Management Board
Banking have signed the moral and ethical conduct declaration
as defined in the Dutch Banking Code. For more information on
ING and the Dutch Banking Code, please refer to www.ing.com.
FINANCIAL EDUCATION INITIATIVES
We strive to enhance the financial capability of consumers of
financial services in general and our own customers in particular.
A first step in achieving this is to provide clear and transparent
information that helps customers understand our products and
services. We have developed a number of practical tools to help
them get a better insight into their personal financial situation
and simplify their financial decision-making.
For example, ING Direct Canada has developed Planet Orange, an
educational website for children in grades one to six and designed
to broaden their understanding of financial issues in a playful and
interactive way. The site invites children to ‘blast off’ on a journey
to Planet Orange, where they can create an ‘astronaut’ profile and
play games that teach them the basics of earning, saving, spending
and investing money.
In the Netherlands we organised a series of financial information
evenings to enable retail and private banking customers and
entrepreneurs to discuss the current economic climate and its
impact on their personal finances with our senior management.
More than 150 of these sessions were organised, which were
attended by more than 4,000 customers. For customers who were
unable to attend the financial information evenings, we added a
number of animated videos on the ing.nl website and a financial
education section, eZonomics, on our corporate website ing.com.
These online platforms explain the very basics of saving, investing,
life insurance, retirement planning and home loans.
FINANCE AND INVESTMENT POLICIES:
CONTROVERSIAL WEAPONS
Our vision on ethical topics, the environment, people and society
is translated into policies which we apply all over the world. We
take into account the demands and concerns of our stakeholders,
based on a continuous dialogue with customers, employees,
and shareholders, as well as with organisations involved in issues
concerning human rights or climate change. As a result, we
are able to constantly evaluate our policies and adjust them
when necessary.
A clear example of this is our Defence Policy. In 2008, we
began evaluating the policy to meet the changing demands and
expectations of our customers, employees and wider society with
regard to financial institutions’ finance and investment decisions on
controversial weapons. This led to a number of changes in 2009.