ING BANK

Adoption Date: 23 June 2003
Country of Headquarters: The Netherlands
Region of Headquarters: Europe
Institutional Reporting Hyperlink:

https://www.ing.com/web/file?uuid=bbbb6628-52ea-4469-8232-2a0d0d60f099&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=39230

Current EPFI Reporting Year/Period: 2016
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: 0

PROJECT FINANCE TRANSACTIONS


Total number that reached financial close in the reporting period: 38

Totals
6
19
13
Sector
Category A
Category B
Category C
Mining 1

Infrastructure
3 1
Oil & Gas 4 7
Power
8 12
Others 1 1
Region
Category A
Category B
Category C
Americas 2 9
Europe, Middle East & Africa 1 8 12
Asia Pacific 3 2 1
Country Designation
Category A
Category B
Category C
Designated1 1 17 13
Non-Designated 5 2
Independent Review
Category A
Category B
Category C
Yes 6 14 10
No
5 3
Totals
6
19
13

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 Tricarico Windfarm Power Italy 2016
2 Kilpilahden Voimalaitos Oy Oil & Gas Finland 2016
3 Fermaca Pipeline La Laguna (LLAGS) Oil & Gas Mexico 2016
4 Ital Gas Storage - Project Wright Oil & Gas Italy 2016
5 Rentel NV Power Belgium 2016
6 CPV Towantic Energy Combined-Cycle Gas-Fired Plant Power USA 2016
7 Vista Ridge Water Pipeline Infrastructure USA 2016
8 Fermaca Pipeline de Occidente (VAG) Oil & Gas Mexico 2016
9 A27/A1 Utrecht-Eemnes-Spakenburg Road Infrastructure Netherlands 2016
10 Liwa Plastics Industries Complex (LPIC) Oil & Gas Oman 2016
11 Tengizchevroil Future Growth Project Oil & Gas Kazakhstan 2016
12 Port of Salalah Gas Terminal Oil & Gas Oman 2016
13 Dakota Access Pipeline Oil & Gas USA 2016
14 Lackawanna Energy Center Power USA 2016
15 Kingisepp Ammonia Production Project Others Russia 2016
16 KIEL Gas-Fired Power Project Power Germany 2016

22 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: 5

Totals
4
1
0
Sector
Category A
Category B
Category C
Mining 1

Infrastructure 1

Oil & Gas


Power 2 1
Others


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

Asia Pacific 1

Country Designation
Category A
Category B
Category C
Designated1
1
Non-Designated 4

Independent Review
Category A
Category B
Category C
Yes 4 1
No


Totals
4
1
0

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 2016, 545 colleagues have been specifically trained on the ING's ESR Framework and EP worldwide.

ING has been an active member of the EP Steering Committee, and was relected in June 2017 to continue serving the EPA in the new Steering Committee.  In addition, ING co-leads the EP Capacity Building and Training Workgroup, and is a member of several additional EP work groups, such as the Social Risks and Climate Change working groups.

For further information please refer to:

ING Group Annual Report 2016:

https://www.ing.com/web/file?uuid=bbbb6628-52ea-4469-8232-2a0d0d60f099&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=39230

ING Environmental and Social Risk Framework:

https://www.ing.com/web/file?uuid=83303846-ca81-4db9-9570-e22b4e4302a6&owner=b03bc017-e0db-4b5d-abbf-003b12934429&contentid=36269

ING and the Dakota Access pipeline:

https://www.ing.com/ING-in-Society/Sustainability/ING-and-the-Dakota-Access-pipeline-1.htm

2015 EP Reporting with additional EP information:

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