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ING Bank

Climate love

Dutch bank ING says it is accelerating its shift away from funding fossil fuels after COP28 deal


It's encouraging to see ING taking decisive steps to accelerate its shift away from funding fossil fuels in the wake of the COP28 deal. This move signals a heightened awareness and commitment from financial institutions to align their practices with global efforts to combat climate change. As COP28 emphasizes the urgency of transitioning to sustainable energy sources, ING's decision reflects a recognition of the environmental and social responsibilities that come with banking practices.
This proactive stance not only contributes to the reduction of carbon emissions but also aligns with the growing demand for financial institutions to play a pivotal role in fostering a sustainable future. ING's commitment to divest from fossil fuels underscores the importance of financial institutions in driving positive change, influencing industry practices, and supporting the transition to cleaner energy alternatives.
It will be interesting to observe how other financial institutions respond to this shift by ING and whether it catalyzes a broader trend within the banking sector. Such initiatives are crucial for meeting global climate targets and ensuring a more sustainable and resilient financial system. As stakeholders, we should continue to advocate for responsible and sustainable investment practices, encouraging further positive transformations across the financial landscape.



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  • Patrick Kiash

    16 w

    Right way to go ..

    2
    • johnte ndeto

      16 w

      This is a great deal to discourage the use of fossil fuels

      3
      • Joseph Githinji

        16 w

        @johnte_ndeto True,it is a bold step from the bank to aid in the fight against climate change effects caused by use of fossils.

        2
      • winnie nguru

        16 w

        Wow! They are doing the right thing and we are here to applaud and celebrate such big wins..

        3
        • Joseph Githinji

          16 w

          @winnie_nguru they deserve a medal for such a great effort.

          2
        • Esther Wanjiku

          16 w

          This is very impressive and we applaud all financial institutions that cease and desist from supporting fossil fuel projects

          4
          • Edwin wangombe

            16 w

            @esther_wanjiku_785 I agree with you... financial institutions such as ING deserve more climate love for this bold decision where they prioritize the well-being of the planet over profit

            2
            • Joseph Githinji

              16 w

              @esther_wanjiku_785 it is a great example to all financial institutions still in denial.

              2
            • Thomas Tienso

              16 w

              I have moved all my investments to sustainable funds and I am looking out for even more sustainable ones. Good move ING Bank.

              5
              • Edwin wangombe

                16 w

                @thomas_tienso This is a nice move... everyone should do the same

                2
                • Joseph Githinji

                  16 w

                  @thomas_tienso a commendable effort indeed.

                  2
                  • Patrick Kiash

                    16 w

                    @thomas_tienso wise decision

                    1
                  • George Kariuki

                    16 w

                    The potential ripple effect of ING's decision on other financial institutions will be worth monitoring.

                    4
                    • Edwin wangombe

                      16 w

                      @george_kariuki I can't wait to see more financial institutions following in this direction it will have a huge impact on the fight against climate change

                      2
                      • Joseph Githinji

                        16 w

                        @george_kariuki It is a mega project that will boast sustainability in a great way.

                        2
                      • Gorffly mokua

                        16 w

                        This is an encouraging step towards promoting sustainability and reducing carbon emissions.👏

                        5
                        • Edwin wangombe

                          16 w

                          @gorffly_mokua Yes and the more we get other financial institutions to desist from supporting fossil fuel organizations the better for our planet

                          2
                          • Joseph Githinji

                            16 w

                            @gorffly_mokua agreed, it's a great step to right trajectory, more banks should do the same.

                            2
                          • Elizabeth Gathigia

                            16 w

                            It's a great step, and other financial institutions should follow this and cut ties with fossil fuel industry

                            8
                            • Edwin wangombe

                              16 w

                              @elizbeth_gathigia Yes... this is the only way we will win the fight against fossil fuels because without finances they can't operate

                              2
                              • Joseph Githinji

                                16 w

                                @elizbeth_gathigia I agree, cutting funding to this industries will deem their efforts futile, hence a healthy environment. More funds should be channelled to greening the future.

                                2
                              • CHRIS NGATIA

                                16 w

                                Such positive moves are encouraged

                                5
                                • Edwin wangombe

                                  16 w

                                  @chris_ngatia We should have more of such bold moves from other financial institutions

                                  2
                                • walter lungayi

                                  16 w

                                  Great to see a major bank taking steps to align with the goals of the COP28 deal. This is a positive move towards addressing climate change.

                                  7
                                  • Edwin wangombe

                                    16 w

                                    @walter_lungayi i agree...

                                    2
                                    • Joseph Githinji

                                      16 w

                                      @walter_lungayi a bold step indeed, more banks should sought to emulate this decision.

                                      2
                                    • Rotich Kim

                                      16 w

                                      Encouraging ✍️

                                      6
                                      • Edwin wangombe

                                        16 w

                                        @rotich_kim very encouraging, to see such an institution making bold moves

                                        2
                                      • Munene Mugambi

                                        16 w

                                        Can the bank give us a definite timeline on when they'll fully back away from fossil fuel funding and why they're still engaged in such activities?

                                        5
                                        • Jane Wangui

                                          16 w

                                          @munene_mugambi definitely some are still engaging in fossil fuel funding because of the benefits they are reaping.

                                          5
                                          • Edwin wangombe

                                            16 w

                                            @munene_mugambi I think the commitment made by the bank should be seen as a win

                                            2
                                            • Joseph Githinji

                                              16 w

                                              @munene_mugambi I agree, all financial institutions must take a stance to protect the environment by makeing such a call.

                                              2
                                              • M O

                                                15 w

                                                @munene_mugambi From ING's own website: "loans to upstream oil and gas activities will be reduced by 35% by 2030" and "by 2040 the financed emissions linked to our portfolio will be reduced to zero" and "[earlier policy changes] included to stop financing coal fired power generation and thermal coal mining and the ending of dedicated financing [...] for new oil and gas fields."

                                              • Princess

                                                16 w

                                                This is a positive move.

                                                14
                                                • Edwin wangombe

                                                  16 w

                                                  @princess_nel_268 it is a bold move that deserves commendation

                                                  2
                                                • Joseph Githinji

                                                  16 w

                                                  Financial institutions has a major role to play on matters climate action, happy to see ING bank choose the right trajectory to aid in the transition to clean energy.

                                                  14
                                                  • Edwin wangombe

                                                    16 w

                                                    @joseph_githinji Well said ... this move is a win for the planet no matter how small it might seem

                                                    2
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