ING’s climate targets to reduce greenhouse gas emissions across its operations and client portfolio have been officially validated by the Science Based Targets initiative (SBTi). The validation confirms that ING’s targets align with the latest climate science and the internationally agreed goal of limiting global warming.
The SBTi has endorsed ING’s emissions reduction goals for several key sectors within its client portfolio, including fossil fuels, power generation, cement, steel, automotive, aviation, and commercial real estate. The bank’s targets have been assessed under the SBTi’s Financial Institutions Near-term Criteria, a framework designed specifically for the financial sector to ensure climate targets are consistent with scientific benchmarks.
The SBTi, a globally recognised body supporting corporate climate action, is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). Over 7,400 companies worldwide have set targets through the initiative.
Nate Aden, Head of Financial Standards at SBTi, commented: “As the first global systemically important bank with a validated science-based target, ING is demonstrating how large financial institutions can play a meaningful role in supporting climate stabilisation. The bank’s integration of six sector-specific targets alongside a cross-portfolio fossil fuel target sets a new benchmark for climate leadership.”
Anne-Sophie Castelnau, ING’s Global Head of Sustainability, said: “Having our targets validated by the SBTi reinforces their scientific credibility. We will continue working with clients to reduce emissions, support emerging sustainable technologies, and help ensure an inclusive transition.”
The announcement marks a significant step in ING’s broader climate strategy, as financial institutions face growing pressure to align their portfolios with net-zero pathways and contribute to emissions reductions across the real economy.
