Certification

The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds, loans & other debt instruments. Rigorous scientific criteria ensure that it is consistent with the goals of the Paris Climate Agreement to limit warming to under 2 degrees. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.

 

ING Bank

ING Logo

 

ING Group is a financial services group headquartered in Amsterdam and one of the largest in Europe.

ING NV in Netherlands, had previously issued a green bond in 2015 and in November 2018, they issued a Climate Bonds Certified Bond of combined size USD 2.95 billion.

Approximately half the bond proceeds will be spent to finance and refinance loans to 88 onshore and offshore wind farms, whilst 15% will be spent on the 29 solar farms. The remainder of the proceeds will be spent on buildings with an Energy Performance Certificate Label A and their emissions performance is within the best 15% of the Dutch market.

 

In October 2019, ING Bank Hipoteczny, in Poland, issued their first green covered bond relating to residential mortgages in Poland. These mortgages are linked to residential buildings are the top 15% best performing in terms of CO2 emissions, in Poland.

 

ING NAME OF BOND

DATE OF ISSUE

TYPE OF INSTRUMENT

SIZE

TENOR

JURISDICTION OF ISSUE

CLIMATE BONDS SECTOR CRITERIA

VERIFIER'S REPORT

ANNUAL REPORT FURTHER INFORMATION
ING NV ING Green Bond November 2018 Use of Proceeds Bond

Two tranches

1) USD 1.25 billion

2) EUR 1.5 billion (USD 1.7 billion)

1) 8 years

2) 12 years

Netherlands

Low Carbon Buildings

Solar

Wind

Marine Renewable Energy

pre issuance statement  

Green Bond Framework 2018

ING Green Bond Programme webpage

ING 2018 Green Bond Press Statement

ING Bank Hipoteczny First Green Covered Bond October 2019 Covered Bond PLN 400 million (USD 102 million) 5 years Poland Low Carbon Buildings pre issuance verification  

Press Release (Polish)

Press Release by EBRD

ING Bank Hipoteczny webpage on green covered bond program