The global Sustainability department helps cascade sustainability responsibilities to subject-matter experts throughout the various business units. These experts help develop ING’s policies, programmes and targets on sustainability-related risks and opportunities, in line with our global sustainability direction. Our global head of Sustainability reports directly to Management Board Banking member Isabel Fernandez.
The oversight of our sustainability targets lies either with the board member responsible for the business a specific target relates to, or with the board as a whole. For example, oversight of progress on our responsible finance ambitions is vested in the board member responsible for Wholesale Banking. The board’s responsibility for social and environmental risks and opportunities is also formalised in our Executive Board Charter.
ING has instituted a Climate Change Committee (CCC) chaired by ING’s chief risk officer and Management Board Banking member, and co-chaired by the board member responsible for Wholesale Banking. It is further comprised of a number board members and senior managers from the Wholesale and Retail businesses. The CCC is advised by an internal Climate Expert Group (CEG) comprising experts from Wholesale Banking front office, global Sustainability, and Risk. The CCC is responsible for:
- Mandating processes for identifying and managing climate-related risks and opportunities.
- Guiding climate-related policies, strategy, objective-setting and performance monitoring.
- Monitoring and overseeing progress on relevant goals and targets.
- Guiding external disclosures.
The CCC meets six times per year and follows an agenda prepared by the CEG, which meets monthly.
Human rights governance
ING has established a Steering Committee (SteerCo) to oversee and take responsibility for implementing human rights-related initiatives, including the Dutch Banking Sector Agreement on human rights (DBA).
The Steerco includes ING’s chief financial officer and Management Board Banking member; the head of Regulatory and International Affairs; the global head of Sustainability; the head of the global Centre of Expertise for Communications and Brand Experience; the Wholesale Banking chief risk officer; the Wholesale Banking chief operations officer; and the Wholesale Banking head of Sectors. The SteerCo meets every quarter.