ING BANK

Adoption Date: 23 June 2003
Country of Headquarters: The Netherlands
Region of Headquarters: Europe
Institutional Reporting Hyperlink: http://www.ing.com/web/file?uuid=5abca075-8d66-41bc-a38e-98d096542cfe&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36737

Current EPFI Reporting Year/Period: 2015
EPFI Reporting in Compliance: Yes

 

Please read the important notes and disclaimer for further information on 'EPFI Reporting', compliance and publication on the Equator Principles Association website.


Further information on this EPFI may be obtained through the Institutional Reporting Hyperlink above.


PROJECT FINANCE ADVISORY SERVICES


Total number mandated in the reporting period: 1

Sector
Total
Mining
Infrastructure
Oil & Gas 1
Power
Others
Sub Total
1

 

Region
Total
Americas
Europe, Middle East & Africa 1
Asia Pacific
Sub Total
1

 

PROJECT FINANCE TRANSACTIONS


Total number that reached financial close in the reporting period: 29

Totals
3
25
1
Sector
Category A
Category B
Category C
Mining 1 1
Infrastructure
2
Oil & Gas 2 15
Power
6 1
Others
1
Region
Category A
Category B
Category C
Americas 3 15 1
Europe, Middle East & Africa
6
Asia Pacific
4
Country Designation
Category A
Category B
Category C
Designated1 2 22 1
Non-Designated 1 3
Independent Review
Category A
Category B
Category C
Yes 3 6 1
No
19
Totals
3
25
1

1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: http://www.equator-principles.com/index.php/ep3/designated-countries


PROJECT NAME REPORTING FOR PROJECT FINANCE TRANSACTIONS

No. Project Name
Sector
Host Country Name/ Project Location Year of Financial Close
1 Aria EIF Power USA 2015
2 Carroll County Energy Oil & Gas USA 2015
3 Chimera Power Holdings Oil & Gas USA 2015
4 Corpus Christi LNG Liquefaction Project (Train 1 & 2) Oil & Gas USA 2015
5 El Encino – La Laguna Pipeline Oil & Gas Mexico 2015
6 Freeport LNG Liquefaction Project (Train 3) Oil & Gas USA 2015
7 Galloper Wind Farm Power UK 2015
8 Hummel Station Oil & Gas USA 2015
9 Ilza Wind Farm Power Poland 2015
10 Michigan Power Oil & Gas USA 2015
11 Moxie Freedom LLC Power USA 2015
12 Nevada Cogeneration Associates 2 Oil & Gas USA 2015
13 NTE Ohio Oil & Gas USA 2015
14 Parco Eolico Orta Nova Power Italy 2015
15 Riverside Generating Oil & Gas USA 2015
16 Rouvai Wind Farm Power France 2015
17 Sabine Pass LNG Liquefaction (Train 5) Oil & Gas USA 2015
18 Semangka Hydro Project Power Indonesia 2015
19 St. Joseph Energy Center Oil & Gas USA 2015
20 Valley Energy Center Oil & Gas USA 2015
21 Waha Pipelines Infrastructure USA 2015
22 Wallingford Energy Oil & Gas USA 2015


7 projects were not disclosed as per the disclosure conditions specified in Annex B of the Equator Principles.


PROJECT-RELATED CORPORATE LOANS


Total number that reached financial close in the reporting period: 9

Totals
3
5
1
Sector
Category A
Category B
Category C
Mining 1 1
Infrastructure

1
Oil & Gas 1 4
Power


Others 1

Region
Category A
Category B
Category C
Americas 2 2
Europe, Middle East & Africa 1 3 1
Asia Pacific


Country Designation
Category A
Category B
Category C
Designated1
2
Non-Designated 3 3 1
Independent Review
Category A
Category B
Category C
Yes 3 3
No
2 1
Totals
3
5
1

1Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment. For the list of Designated Countries, go to: http://www.equator-principles.com/index.php/ep3/designated-countries


IMPLEMENTATION OF THE EQUATOR PRINCIPLES

As an Equator Principles (EP) Financial Institution, we implement the EP in our internal environmental and social policies, procedures and standards. We do not provide project finance or project-related corporate loans to clients that are unable, or choose not, to comply with the principles. All EP transactions are reviewed at least annually, at which time covenant compliance is typically affirmed.

The EP are embedded in ING’s ESR Framework, and require involvement of the following three banking areas:

  • Front Office: departments originate transactions and have direct contact with the client or project sponsors.
  • Risk Managers: departments that provide control over Front Office activities and generally sign off on the environmental and social impacts for ’Low Risk’ or ‘Medium Risk’ EP deals, which generally refer to Category C projects or Category A and B in designated countries.
  • Environmental and Social Risk: department within risk management fully dedicated to assessing environmental and social impacts associated with ’High Risk’ transactions, which in the context of EP generally refer to Category A and B projects in non-designated countries. Negative advice from the ESR Desk can only be waived by ING’s highest Credit Committee or the Executive Board. In practice such waivers are exceptional.

As our risk assessment processes are decentralised, each front-office team must be highly familiar with ING’s Environmental and Social framework and in particular Equator Principles III (EP III). Hence, ING makes significant investment in internal training programs to help front office and risk management staff in assessing the environmental and social risk under EP III. In 2015, 479 colleagues have been specifically trained on the ESR Framework worldwide.

For further information please refer to:

http://www.ing.com/web/file?uuid=5abca075-8d66-41bc-a38e-98d096542cfe&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36737