ING’s 2025 Climate Update: Still Fueling Fossil Expansion

Reclaim Finance asserts that ING's 2025 Climate Update fails to introduce new policies and obscures the bank's ongoing support for fossil fuel developers. The report highlights that ING continues to provide corporate financing for LNG infrastructure and is a major lender to Venture Global. Furthermore, it claims ING misleadingly uses its Science Based Targets initiative (SBTi) validation while ignoring the July 2025 Net-Zero Standard for Financial Institutions, which requires the exclusion of financing for companies developing new coal, oil, or gas projects by 2030.

• ING continues to provide financial support to oil and gas companies involved in fossil expansion, specifically allowing corporate financing for companies developing LNG infrastructure.
• ING has been a primary financier for Venture Global, the largest developer of LNG export terminals globally, ranking as the largest lender over the last three years and third in 2024.
• ING's client engagement strategy lacks 'red lines,' meaning the bank pledges continued financial support even for clients without a transition plan aligned with the 1.5°C goal of the Paris Agreement.
• ING's 2025 Climate Update omits the July 2025 SBTi Net-Zero Standard for Financial Institutions, which mandates the exclusion of financing for new coal, oil, or gas projects, including LNG infrastructure, from 2030 onward.

APA

Martin, L. (2025). ING’s 2025 Climate Update: Still Fueling Fossil Expansion. Reclaim Finance. https://reclaimfinance.org/site/en/2025/09/19/ings-2025-climate-update-still-fueling-fossil-expansion/

Chicago

Martin, Léo. ING’s 2025 Climate Update: Still Fueling Fossil Expansion. Reclaim Finance, 2025. https://reclaimfinance.org/site/en/2025/09/19/ings-2025-climate-update-still-fueling-fossil-expansion/.

Wikipedia

{{cite press release |last1=Martin |first1=Léo |title=ING’s 2025 Climate Update: Still Fueling Fossil Expansion |publisher=Reclaim Finance |date=19 September 2025 |url=https://reclaimfinance.org/site/en/2025/09/19/ings-2025-climate-update-still-fueling-fossil-expansion/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{martin2025ings, author = {Martin, Léo}, title = {{ING’s 2025 Climate Update: Still Fueling Fossil Expansion}}, publisher = {Reclaim Finance}, year = {2025}, month = sep, url = {https://reclaimfinance.org/site/en/2025/09/19/ings-2025-climate-update-still-fueling-fossil-expansion/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }