Reporting – ING Bank N.V. (2015)

Adoption Date:23 June 2003
Country of Headquarters:The Netherlands
Region of Headquarters:Europe
Institutional Reporting Hyperlink:http://www.ing.com/web/file?uuid=5abca075-8d66-41bc-a38e-98d096542cfe&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36737
Current EPFI Reporting Year/Period:2015
EPFI Reporting in Compliance:Yes

Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the Equator Principles Association website.

Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.

PROJECT FINANCE ADVISORY SERVICES

Total number mandated in the reporting period: 1

SectorTotal
Sub Total1
Mining
Infrastructure
Oil & Gas1
Power
Others

RegionTotal
Sub Total1
Americas
Europe, Middle East & Africa1
Asia Pacific

PROJECT FINANCE TRANSACTIONS

Total number that reached financial close in the reporting period: 29

Totals3251
Totals3251
SectorCategory ACategory BCategory C
Mining11
Infrastructure2
Oil & Gas215
Power61
Others1
RegionCategory ACategory BCategory C
Americas3151
Europe, Middle East & Africa6
Asia Pacific4
Country DesignationCategory ACategory BCategory C
Designated12221
Non-Designated13
Independent ReviewCategory ACategory BCategory C
Yes361
No19

1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: http://www.equator-principles.com/index.php/ep3/designated-countries

PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS

No.Project NameSectorHost Country Name/ Project LocationYear of Financial Close
1Aria EIFPowerUSA2015
2Carroll County EnergyOil & GasUSA2015
3Chimera Power HoldingsOil & GasUSA2015
4Corpus Christi LNG Liquefaction Project (Train 1 & 2)Oil & GasUSA2015
5El Encino – La Laguna PipelineOil & GasMexico2015
6Freeport LNG Liquefaction Project (Train 3)Oil & GasUSA2015
7Galloper Wind FarmPowerUK2015
8Hummel StationOil & GasUSA2015
9Ilza Wind FarmPowerPoland2015
10Michigan PowerOil & GasUSA2015
11Moxie Freedom LLCPowerUSA2015
12Nevada Cogeneration Associates 2Oil & GasUSA2015
13NTE OhioOil & GasUSA2015
14Parco Eolico Orta NovaPowerItaly2015
15Riverside GeneratingOil & GasUSA2015
16Rouvai Wind FarmPowerFrance2015
17Sabine Pass LNG Liquefaction (Train 5)Oil & GasUSA2015
18Semangka Hydro ProjectPowerIndonesia2015
19St. Joseph Energy CenterOil & GasUSA2015
20Valley Energy CenterOil & GasUSA2015
21Waha PipelinesInfrastructureUSA2015
22Wallingford EnergyOil & GasUSA2015

7 projects were not disclosed as per the disclosure conditions specified in Annex B of the Equator Principles

PROJECT-RELATED CORPORATE LOANS

Total number that reached financial close in the reporting period: 9

Totals351
Totals351
SectorCategory ACategory BCategory C
Mining11
Infrastructure1
Oil & Gas14
Power
Others1
RegionCategory ACategory BCategory C
Americas22
Europe, Middle East & Africa131
Asia Pacific
Country DesignationCategory ACategory BCategory C
Designated12
Non-Designated331
Independent ReviewCategory ACategory BCategory C
Yes33
No21

1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: http://www.equator-principles.com/index.php/ep3/designated-countries

IMPLEMENTATION OF THE EQUATOR PRINCIPLES

As an Equator Principles (EP) Financial Institution, we implement the EP in our internal environmental and social policies, procedures and standards. We do not provide project finance or project-related corporate loans to clients that are unable, or choose not, to comply with the principles. All EP transactions are reviewed at least annually, at which time covenant compliance is typically affirmed.

The EP are embedded in ING’s ESR Framework, and require involvement of the following three banking areas:

  • Front Office: departments originate transactions and have direct contact with the client or project sponsors.
  • Risk Managers: departments that provide control over Front Office activities and generally sign off on the environmental and social impacts for ’Low Risk’ or ‘Medium Risk’ EP deals, which generally refer to Category C projects or Category A and B in designated countries.
  • Environmental and Social Risk: department within risk management fully dedicated to assessing environmental and social impacts associated with ’High Risk’ transactions, which in the context of EP generally refer to Category A and B projects in non-designated countries. Negative advice from the ESR Desk can only be waived by ING’s highest Credit Committee or the Executive Board. In practice such waivers are exceptional.

As our risk assessment processes are decentralised, each front-office team must be highly familiar with ING’s Environmental and Social framework and in particular Equator Principles III (EP III). Hence, ING makes significant investment in internal training programs to help front office and risk management staff in assessing the environmental and social risk under EP III. In 2015, 479 colleagues have been specifically trained on the ESR Framework worldwide.

For further information please refer to:

http://www.ing.com/web/file?uuid=5abca075-8d66-41bc-a38e-98d096542cfe&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36737