Reporting – ING Bank N.V. (2016)

Adoption Date:23 June 2003
Country of Headquarters:The Netherlands
Region of Headquarters:Europe
Institutional Reporting Hyperlink:https://www.ing.com/web/file?uuid=bbbb6628-52ea-4469-8232-2a0d0d60f099&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=39230
Current EPFI Reporting Year/Period:2016
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: 0

PROJECT FINANCE TRANSACTIONS

Total number that reached financial close in the reporting period: 38

Totals61913
Totals61913
SectorCategory ACategory BCategory C
Mining1
Infrastructure31
Oil & Gas47
Power812
Others11
RegionCategory ACategory BCategory C
Americas29
Europe, Middle East & Africa1812
Asia Pacific321
Country DesignationCategory ACategory BCategory C
Designated111713
Non-Designated52
Independent ReviewCategory ACategory BCategory C
Yes61410
No53

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
1Tricarico WindfarmPowerItaly2016
2Kilpilahden Voimalaitos OyOil & GasFinland2016
3Fermaca Pipeline La Laguna (LLAGS)Oil & GasMexico2016
4Ital Gas Storage - Project WrightOil & GasItaly2016
5Rentel NVPowerBelgium2016
6CPV Towantic Energy Combined-Cycle Gas-Fired PlantPowerUSA2016
7Vista Ridge Water PipelineInfrastructureUSA2016
8Fermaca Pipeline de Occidente (VAG)Oil & GasMexico2016
9A27/A1 Utrecht-Eemnes-Spakenburg RoadInfrastructureNetherlands2016
10Liwa Plastics Industries Complex (LPIC)Oil & GasOman2016
11Tengizchevroil Future Growth ProjectOil & GasKazakhstan2016
12Port of Salalah Gas TerminalOil & GasOman2016
13Dakota Access PipelineOil & GasUSA2016
14Lackawanna Energy CenterPowerUSA2016
15Kingisepp Ammonia Production ProjectOthersRussia2016
16KIEL Gas-Fired Power ProjectPowerGermany2016

22 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

Totals410
Totals410
SectorCategory ACategory BCategory C
Mining1
Infrastructure1
Oil & Gas
Power21
Others
RegionCategory ACategory BCategory C
Americas1
Europe, Middle East & Africa3
Asia Pacific1
Country DesignationCategory ACategory BCategory C
Designated11
Non-Designated4
Independent ReviewCategory ACategory BCategory C
Yes41
No

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 2016, 545 colleagues have been specifically trained on the ING’s ESR Framework and EP worldwide.

ING has been an active member of the EP Steering Committee, and was relected in June 2017 to continue serving the EPA in the new Steering Committee.  In addition, ING 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 2016:

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

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

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