ING signs “Green Deal” to boost Circular Purchasing
This initiative aims to replace a linear purchasing model with a more sustainable procurement of regenerative resources.
ING signs the ‘Green Deal Circular Purchasing’, leveraging on its considerable purchasing power to help stimulate the demand for circularly produced goods. The Green Deal is an initiative that aims to replace a linear purchasing model with a more sustainable procurement of regenerative resources.
The Green Deal Circular Purchasing is an initiative by MVO Nederland and others.
Hans Triep (left), chief procurement officer at Procurement Bank
Netherlands and Léon Wijnands, global head of Sustainability
for ING Group/Bank – both signed the Green Deal.
As one of the first organizations to sign this deal, ING believes that a circular economy has both environmental and social benefits and is aligned with its objective of responsible procurement.
In a report published by Dutch research agency TNO, the transition to a circular economic model can lead to the creation of 50,000 jobs and EUR 7 billion in revenues while reducing environmental degradation. These revenues are based on an estimation of the added value to the Dutch economy as a result of capitalizing on the opportunities created by the circular economy in every sector in the Netherlands.
The future perspective is, therefore, to have integrated circular purchasing in the procurement process at ING by 2016. Integration will be enhanced via the collaborative community of signatories of the Green Deal through the sharing of best practices.