GNL : ING va-t-elle changer la donne ?

Reclaim Finance critiques the Dutch bank ING for implementing a 'double standard' in its climate policy. While ING is the first major international bank to announce an end to direct project financing for new LNG export terminals starting in 2026, it continues to provide corporate financial services to the companies developing these projects. Between 2021 and 2023, ING provided over $5 billion to LNG expansion, ranking it as the second-largest European financier of the sector. The document highlights that corporate financing, which remains permitted under ING's new policy, accounts for 96% of financing allocated to the fossil fuel industry. Specific examples of continued support include $3 billion provided to Venture Global and the bank's role in the company's January 2025 IPO, as well as bond issuances for Cheniere Energy in early 2024.

• ING is the first major international bank to commit to ending project financing for all new LNG export terminals, with the policy taking effect in 2026.
• Despite its new policy, ING remains a top financier of LNG expansion; between 2021 and 2023, it allocated over $5 billion to the sector, making it the second-largest European financier behind Santander.
• The bank's policy is criticized as a 'double standard' because it excludes direct project financing but allows corporate financing for the companies developing those projects, which represents 96% of fossil fuel industry financing.
• ING has provided significant financial support to major US LNG developers, including $3 billion to Venture Global between 2021 and 2023 and participating in Venture Global's January 2025 IPO.
• The global expansion of LNG, including 156 planned terminals, threatens the climate; 63 export terminal projects could emit over 10 gigatonnes of CO2 equivalent by 2030, a volume similar to annual global emissions from all active coal plants.

APA

Martin, L. (2025). GNL : ING va-t-elle changer la donne ? Reclaim Finance. https://reclaimfinance.org/site/2025/02/12/gnl-ing-va-t-elle-changer-la-donne/

Chicago

Martin, Léo. GNL : ING va-t-elle changer la donne ? Reclaim Finance, 2025. https://reclaimfinance.org/site/2025/02/12/gnl-ing-va-t-elle-changer-la-donne/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=GNL : ING va-t-elle changer la donne ? |publisher=Reclaim Finance |date=12 February 2025 |url=https://reclaimfinance.org/site/2025/02/12/gnl-ing-va-t-elle-changer-la-donne/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2025gnl, author = {Martin, Léo}, title = {{GNL : ING va-t-elle changer la donne ?}}, publisher = {Reclaim Finance}, year = {2025}, month = feb, url = {https://reclaimfinance.org/site/2025/02/12/gnl-ing-va-t-elle-changer-la-donne/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }