Reporting – ING Bank N.V. (2017)

Adoption Date:23 June 2003
Country of Headquarters:The Netherlands
Region of Headquarters:Europe
Institutional Reporting Hyperlink:ING Group Annual Report 2017
Current EPFI Reporting Year/Period:2017
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 & Gas
Power
Others1
RegionTotal
Sub Total1
Americas
Europe, Middle East & Africa1
Asia Pacific

PROJECT FINANCE TRANSACTIONS

Total number that reached financial close in the reporting period: 30

Totals41214
Totals41214
SectorCategory ACategory BCategory C
Mining
Infrastructure21
Oil & Gas32
Power1711
Others12
RegionCategory ACategory BCategory C
Americas7
Europe, Middle East & Africa2413
Asia Pacific211
Country DesignationCategory ACategory BCategory C
Designated11814
Non-Designated34
Independent ReviewCategory ACategory BCategory C
Yes41111
No13

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: https://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
1AirtrunkOthersAustralia2017
2Cirebon 2 Expansion Project PowerIndonesia2017
3Salalah Methanol Company (SMC)OthersOman2017
4EE Bray SASOthersFrance2017
5Fideicomiso P.A La PintadaInfrastructureColombia2017
6Parco Eolico BanziPowerItaly2017
7Pin Oak Terminal, LLCInfrastructureUSA2017
8Block A Aceh (PT Medco E&P Malaka)Oil & GasIndonesia2017
9Renova S.A.OthersArgentina2017
10Ranchland Solar, LLCPowerUSA2017
11Voyager Wind I Finance, LLCPowerUSA2017
12Carlsbad Energy Holdings, LLCPowerUSA2017
13AES Southland Energy, LLCPowerUSA2017
14Windpark KrammerPowerNetherlands2017
15Pengerang Deepwater Terminal 2 (PDT2)InfrastructureMalysia2017

15 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: 5

Totals230
Totals230
SectorCategory ACategory BCategory C
Mining
Infrastructure1
Oil & Gas
Power
Others13
RegionCategory ACategory BCategory C
Americas2
Europe, Middle East & Africa11
Asia Pacific1
Country DesignationCategory ACategory BCategory C
Designated12
Non-Designated21
Independent ReviewCategory ACategory BCategory C
Yes12
No11

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: https://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 (EPIII). 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 EPIII. In 2017, 285 colleagues were specifically trained on ING’s ESR Framework and EP worldwide.

ING has been an active member of the EP Steering Committee, was relected in June 2017 and will continue serving the EPA in the Steering Committee until our term ends in 2018. In addition, ING is one of two EPFIs acting as coordinator for the EP4 targeted review process, co-leads the EP Capacity Building and Training Workgroup, and is a member of several additional EP work groups, such as the Social Risks and Climate Change working groups.

For further information please refer to:

ING Group Annual Report 2017:

https://www.ing.com/web/file?uuid=984d63ab-14e4-4a37-abcd-8326d8196f76&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=42779

ING Environmental and Social Risk Framework:

https://www.ing.com/web/file?uuid=83303846-ca81-4db9-9570-e22b4e4302a6&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36269

ING and the Dakota Access pipeline:

https://www.ing.com/ING-in-Society/Sustainability/ING-and-the-Dakota-Access-pipeline-1.htm

2016 EP Report (included in 2016 Integrated Annual Report)

https://www.ing.com/web/file?uuid=bbbb6628-52ea-4469-8232-2a0d0d60f099&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=39230

2015 EP Reporting with additional EP information

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