|ING Bank and NGOs concerning climate policy|
|Description||This specific instance concerns the alleged non-observance of the OECD Guidelines by ING Bank with respect to the environment and climate.|
|Theme(s)||Consumer interests, Disclosure, Environment|
|Date||8 May 2017|
|Industry sector||Financial and insurance activities|
Read the Dutch NCP's initial assessment regarding the specific instance – 14 November 2017
Read the Dutch NCP’s final statement regarding the specific instance – 19 April 2019
On 8 May 2017 Oxfam Novib, Greenpeace, BankTrack and Friends of the Earth Netherlands (Milieudefensie) submitted a specific instance to the Dutch National Contact Point (NCP) alleging a violation of the OECD Guidelines for Multinational Enterprises by ING Bank. In their submission they asked the NCP to examine ING’s climate policy and to urge ING to align its climate and other policies with the Guidelines.
The Dutch NCP determined that the specific instance merits further consideration and offered its good offices to the parties on 14 November 2017. All parties accepted the NCP’s invitation to participate in a dialogue, which was centred on three main questions that were raised in the specific instance:
On 19 April 2019, the NCP issued its final statement and concluded the case. The outcomes of the case include ING’s intention to reach intermediary targets in line with the Paris Agreement, and that the parties will jointly call on the Dutch Government to request the International Energy Agency to develop two 1.5 degrees scenarios, one with and without the use of Carbon Capture and Storage (CCS).
The NCP also called on the parties to continue their constructive dialogue and to consider the feasibility of developing a joint roadmap on intermediate targets setting and disclosure. Finally, the NCP recommends that a follow-up evaluation on the outcomes of this dialogue be conducted in the second quarter of 2020. Both parties have accepted the NCP’s invitation.