Reporting – ING Bank N.V. (2018)

Adoption Date:23 June 2003
Country of Headquarters:The Netherlands
Region of Headquarters:Europe
Institutional Reporting Hyperlink:ING Group Annual Report 2018
Current EPFI Reporting Year/Period:2018
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: 40

Totals71617
Totals71617
SectorCategory ACategory BCategory C
Mining22
Infrastructure3
Oil & Gas22
Power1415
Others
RegionCategory ACategory BCategory C
Americas361
Europe, Middle East & Africa12
Asia Pacific3816
Country DesignationCategory ACategory BCategory C
Designated121415
Non-Designated522
Independent ReviewCategory ACategory BCategory C
Yes71514
No013

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
1CD GLOBAL SOLAR II BORROWER, LLCPowerUSA2018
2CPC LAKIAKANGAS 1 OYPowerFinland2018
3EDGEMOOR-STAR AMERICA JUDICIAL PARTNERS LLCInfrastructureUSA2018
4Marcobre SAC (Mina Justa Project)MiningPeru2018
5AULANDER HOLLOMAN SOLAR, LLCPowerUSA2018
6CD GLOBAL SOLAR II NC BORROWERPowerUSA2018
7AURELIAN ECUADORMiningEcuador2018
8Blauwwind II C.V.PowerNetherlands2018
9Caitan / Desalination Plant ProjectInfrastructureChile2018
10FORMOSA I OFFSHORE WIND FARMPowerTaiwan2018
11ACACIA MADEN ÍŞLETMELERIMiningTurkey2018
12CHENIERE CORPUS CHRISTI HOLDINGS LLCOil & GasUSA2018
13NEXERA SP. Z.O.O.InfrastructurePoland2018
14Canakkale Otoyol ve Koprusu Insaat Yatirim VEInfrastructureTurkey2018
15COOPER ENERGY (SOLE) PTY LTDOil & GasUSA2018

25 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

Totals320
Totals320
SectorCategory ACategory BCategory C
Mining
Infrastructure
Oil & Gas31
Power1
Others
RegionCategory ACategory BCategory C
Americas1
Europe, Middle East & Africa11
Asia Pacific2
Country DesignationCategory ACategory BCategory C
Designated11
Non-Designated31
Independent ReviewCategory ACategory BCategory C
Yes31
No1

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

Applying the Equator Principles (EP)

As an Equator Principles (EP) Financial Institution, we implement the EPs 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 EPs 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 2018, 306 colleagues were specifically trained on ING’s ESR Framework and EP worldwide.

In 2018, as part of rotation governance, ING stepped down from the EP Steering Committee, having been a member since its inception some 12 years ago. Nevertheless, ING remains active within Equator Principles Association by co-leading the coordination of the EP4 process and participating as a member of several working groups, including those on social risks, climate change and scope. ING also co-leads the capacity building and training working group, which resulted in the roll-out of an online EP learning tool to ING risk and front-office employees. The EP learning tool has been integrated into ING’s e-learning platform, and that 81 employees completed both modules in 2018. More employees are required to complete the training in 2019.

For further information please refer to:

ING Group Annual Report 2018
https://www.ing.com/web/file?uuid=cd92e960-46e7-4f48-a2ae-8fb590d30714&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=46311

ING Environmental and Social Risk Framework
https://www.ing.com/web/file?uuid=5a9af88a-b6a3-4e8a-ae8d-d192e7f8d7c9&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=42010

ING’s Environmental Approach
https://www.ing.com/web/file?uuid=5e17fa01-ad5d-403a-9884-e61e18ab53ba&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=33981

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

2017 EP Report (included in 2017 Integrated Annual Report)
https://www.ing.com/web/file?uuid=984d63ab-14e4-4a37-abcd-8326d8196f76&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=42779

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