ING Elected as New Chair of Equator Principles Association Steering Committee

We are very pleased to announce that the Equator Principles (EP) Association Steering Committee has elected a new Chair for the 2012/13 mandate. ING is honoured to accept the appointment and assumes the position of Chair on 1 May 2012. One of the first tasks in the Chair role is leading the EP III Stakeholder Consultation and Public Comment process. ING looks forward to continuing this important leadership role, held by Citi for the last 2 years, particularly during this crucial period. ING believes that a robust consultation and public comment process is a fundamental requirement for incorporating the input from stakeholders and ensuring transparency.

ING has a significant global project finance portfolio (ranked 6th in the Syndications PF league table YTD2011) and longstanding experience and commitment to environmental and social issues. ING’s performance in managing environmental and social risks has been internationally recognised by sustainable finance experts such as FT Sustainability Awards and the Sustainalytics consultancy. ING recognises the important contribution the EPs have made in influencing its risk management framework. ING’s environmental and social risk policies are applicable to all products and services offered to its corporate clients worldwide, cementing ING’s strong commitment to sustainability and responsible finance, as well as enhancing client relationships on these issues.

Since adopting the EPs in 2003, ING has been a consistent contributor to their development and has been extensively involved in EP matters including being an active member of the Steering Committee and several Working Groups (ECA, NGO, Scope, Reporting and Transparency, Climate Change and Communications). Furthermore ING participates in the industry debate on social risks and, prior to their appointment as Chair, ING led the Social Risks Working Group where they provided detailed input for the IFC Performance Standards Review and Update Process. Furthermore ING is in dialogue with the OECD on the implications of the proposed OECD Guidelines for Multi-National Enterprises.

Leonie Schreve, ING’s Head of Environmental and Social Risk Management, who will lead the Chair efforts on behalf of ING said:

"ING is honoured to be elected as Chair of the EP Association Steering Committee for the forthcoming period. We are in challenging economic times and there are clear sustainability opportunities in the market. EP, as catalyst for sustainable banking, may help us to increase our focus on these opportunities. As such, our aim is not only to bring the EPs to the next level, but also to enhance the level playing field within the banking community. Together with my colleagues I am excited to take up this challenging role.