Dutch banking giant ING has announced this week that it intends to commit €100 million to sustainable investments, specifically seeking to support sustainable ‘scale-ups’ which can boast a proven concept and positive environmental impact.
ING announced on Thursday that it has launched a new initiative called Sustainable Investments which, as the name suggests, seeks to direct ING investments toward sustainable projects across all sectors and focus on “innovative business models with a track record that still require funding to expand their existing business organically.”
The new Sustainable Investments initiative is part of the bank’s larger sustainability strategy which is intent on contributing “to a low-carbon or self-reliant society” through four specific objectives:
- becoming the industry leader in sustainable finance
- creating products to specifically help our SME/Mid-Corp clients future-proof their businesses
- helping the Think Forward Initiative financially empower 100 million people, and
- figuring out how to align our portfolio with the two-degree scenario (which is a big one).
Sustainable Investments will start with an investment of €100 million that the bank will slowly invest over the next three to four years.
“Sustainability has become a strategic priority and board room topic for many of our clients,” said Mark Weustink, director within ING’s Corporate Investments team, who will lead and manage Sustainable Investments. “Our commitment of risk-bearing capital, ranging from junior debt to ordinary equity, enables ING to fill a client need and add to our overall sustainable finance strategy.”
“This step enables ING to support our clients who are proactively making changes in their business models to adapt to a more sustainable and energy-friendly way for the future, and further support them throughout their journey. We are very keen to make this initiative a success for our clients and will thoroughly review every opportunity we receive.”
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