Milieudefensie starts climate case against ING
Today Milieudefensie formally started a court case against ING regarding our climate action approach, serving us with a legal writ of summons.
Arnaud Cohen Stuart, Head of Business Ethics, said: “This latest step by Milieudefensie is not unexpected – they announced their plans over a year ago. We have not yet been through their claims, but so far they have been unrealistic and unreasonable. We share the concern about the climate but differ in opinion on what action that requires. The demands so far do not reflect the role of a bank in the transition and do not support the systemic change that needs to happen. We would have preferred to continue our existing dialogue but will of course explain our approach in court.”
“We will not let a lengthy legal process distract us from taking the actions we need to take to tackle the climate challenge. Our focus continues to be on working with our clients to help them transition and be future-proof,” said Arnaud Cohen Stuart.
We take a science based approach to climate action and adapt according to the latest insights. Our climate targets have also been validated by the Science Based Targets Initiative (SBTi).
What happens next?
Court proceedings are lengthy. In the meantime most importantly we will continue to progress with our climate action strategy.
For more information see our Climate action approach or the dedicated Climate case page.
We are confident in our climate approach.
The urgency of climate change is undeniable and ING wants to play a leading role in accelerating the global transition to a low-carbon economy. As a bank, we do this through financing: working with clients on their transitions to net zero while financing the technologies and solutions needed for a sustainable future. And because the global transition needs to include everyone, we're also finding new ways to enable people to stay a step ahead on climate change.
As society transitions to a low-carbon economy, so do our clients and so does ING. We finance a lot of sustainable activities, but we finance more that isn't sustainable. For more on how we're progressing see www.ing.com/climate.