How ING is driving impact with green bonds and data
Since 2015, ING has been issuing green bonds to give investors the opportunity to support sustainable buildings and renewable energy projects. With over €10 billion in outstanding green bonds (as of end 2024), the bank demonstrates that sustainable finance is not just a vision for the future – it’s a reality today. These bonds are issued under ING’s Global Green Funding Framework. Together with CFP Green Buildings, ING provides insights into the impact of its sustainable real estate portfolio – and where further opportunities lie.
CFP spoke with Noor van den Bos (Sustainability Expert, Group Treasury) and Lowie Dangermond (Secured Issuance Professional) at ING. Both are closely involved in the content and publication of the annual Global Green Funding Allocation and Impact Report, as well as the execution of the Green Lion securitisation transactions, where transparency and measurable impact take centre stage.
Sustainable finance as a strategic pillar
The issuance of green bonds is part of ING’s broader sustainability strategy, aimed at reducing carbon emissions by 2050. It shows how sustainable finance is being implemented in practice, with attention to both investments and their impact.
“For us, it’s essential to not only decarbonise the asset side, but also to show how our financing contributes to the transition.”
The Global Green Funding Allocation and Impact Report: transparency on assets and financing
In the annual Global Green Funding Allocation Report, ING provides investors with insights into the development of its sustainable portfolio – on both the asset side (e.g. loans to retail clients) and the funding side (e.g. green bonds issued by ING). The report outlines the size and growth of two portfolios under the ING Global Green Funding Framework:
- Sustainable buildings (residential and commercial) in the Netherlands and Germany
- Renewable energy projects worldwide
On the funding side, ING shows how these projects are supported through a broad range of sustainable products – including green bonds, sustainable savings accounts, and business accounts with a sustainability component. The report also clarifies which part of the portfolio aligns with international sustainability standards (such as the EU Taxonomy), which portion consists of new investments (not refinancing), and how the projects are geographically distributed.
The annual update of both the portfolio and the funding provides a fully transparent overview for investors around the world.
Impact reporting with the Green Buildings Tool
A key component of the Global Green Funding Impact Report is the analysis CFP Green Buildings prepares annually for ING. Using the Green Buildings Tool, the report quantifies the avoided carbon emissions generated by ING’s sustainable real estate portfolio, compared to the average building stock in the Netherlands.
“Investors want to see the difference between a green bond and a traditional financial product,” Noor explains. “Thanks to CFP’s analysis, we can back this up with data – and comply with the ICMA Green Bond Principles.”
The CFP report is published simultaneously with the Global Green Funding Allocation Report on ING’s website, and is accessible to investors and other stakeholders. In addition, a tailored impact report is prepared for each new Green Lion securitisation, focusing on the specific loans included in the transaction.
Long-term collaboration with CFP Green Buildings
ING has been working with CFP Green Buildings for many years and values the partnership. Noor van den Bos: “CFP has strong expertise on the Dutch market, offers in-depth knowledge, and actively contributes ideas. Each year, we work together to improve the reporting.”
One example is the inclusion of year-on-year comparisons, helping to make trends and developments more visible. The analysis also shows that ING’s real estate portfolio is becoming less dependent on gas – in part due to the addition of new buildings that comply with the Dutch BENG standards.
While the impact analysis itself does not directly change the composition of the portfolio, it provides valuable insights that help ING further decarbonise its mortgage book.
Reflection: a learning process that delivers value
Green Funding Reporting requires accuracy, compliance with evolving regulations, and continuous improvement. “It can be quite a challenge to report everything properly and transparently,” says Lowie. “But it also brings a lot of benefits: greater insight into your portfolio and a contribution to the development of the market. The more sustainable issuances there are, the more investment opportunities arise — and that’s good for both investors and issuers.”
Interested in green bonds or sustainability reporting? Get in touch for tailored advice.
