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ING 2011 RESPONSABILITY SUSTAINABILITY


Business index

ABOUT THIS REPORT

CHAIRMAN'S STATEMENT

4

8

ING BUSINESS PRINCIPLES

THE FUTURE OF ING

12

16

18

OUR CORPORATE RESPONSIBILITY STRATEGY

STAKEHOLDER ENGAGEMENT

CORPORATE RESPONSIBILITY PROGRESS REPORT

24

TIMELINE CORPORATE RESPONSIBILITY

28

36

44

54

this report actualises our commitment to transparency and accountability. it provides an overview of our corporate responsibility strategy and the results we have achieved in 2010. these results are substantiated with data, case studies and comments from a broad range of stakeholders.

ING CORPORATE RESPONCABILITY

ING IN ACTION

1. VALUING CUSTOMER TRUST

60

68

2

2. BEYOND BUSINESS AS USUAL

3. APPETITE FOR SUSTAINABILITY

4. ENGAGING OUR EMPLOYEES

DATA

80

82

5. TOWARDS A SMALLER FOOTPRINT

6. BUILDING STRONGER COMMUNITIES

OVERVIEW

ING'S BALANCE SHEET

84

86

96

97

ASSURANCE REPORT

DATA

GOVERNANCE AND COMPLIANCE

KEY PERFORMANCE INDICATORS

OUR APPROACH TO REPORTING

for a more detailed picture of our corporate responsibility efforts, please visit the 'ing for something better' website. this provides information based on the g3 sustainability reporting guidlines of the global reporting initiative. it also refers to the millennium development goals and the principles of the un global compact. www.ingforsomethingbetter.com/report 2011 Sustainability Report

Bank

Insurance / IIM

3


ING AT A GLANCE It is our mission to help our customers manage their financial future. Our role, however, extends beyond economics and includes the impact we have on the communities we serve. We feel a responsibility to invest in a better future for people worldwide. Social, ethical and environmental considerations are therefore an integral part of the way we do business. We also team up with local and global partners to affect lasting, positive change in areas like financial literacy, child education and environmental preservation.


101,000 PEOPLE EMPLOYED BY ING GLOBALY

54,9 MLN TOTAL INCOME

100 % ING IS 100% CARBON NEUTRAL AND HAS BEEN SINCE 2007

14.9 % OF OUR MANAGEMENT COUNCEL CONSISTS OF WOMAN

72/100 SCORE OF DOW JONES SUSTAINABILITY INDEX

2,12 MLN SUSTAINABLE ASSETS UNDER MANAGEMENT

WHERE WE ARE AND WHAT WE DO ING is a global financial institution of Dutch origin that is driven by clear business principles and shared values. In 2011, we separated Banking activities from our Insurance and Investment Management operations. Please find our reports online at www.ing.com

40 NUMBER OF COUNTRIES WIDTH ING OFFICES

125,175 NUMBER OF CHILDREN PROVIDED WITH ACCES TO PRIMERY EDUCATION


Business

They set the 6

Bank Insurance / IIM


Business

standard 2011 Sustainability Report

Bank Insurance / IIM

7


inspiring leaders

8


42 26 58 4 years old

years at Citigroup

Eployees

children

Risk Management

9


inspiring leaders

10


42 26 58 4 years old

years at Citigroup

Eployees

children

Risk Management

11


inspiring leaders

52 26 58 4 years old

years at Citigroup

Eployees

children

Risk Management

12


13


inspiring leaders

14


45 98 24 1 YEARS OLD

FOLLOWERS

EXPERIENCE

IDEAL

CLEAN ENERGY PIETER VERSCHUREN 15


CEO statement

Dear stakeholder, Last year marked the beginning of a new era for ING. Adapting to the changed financial landscape required bold steps and culminated in the fundamental decision to separate our banking, insurance and investment management activities. It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

16

Bank Insurance / IIM

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond. Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

the right track. A clear example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing demands in society with regard to financial institutions’ finance and investment decisions on controversial weapons. This led to an extension of the scope of our Defence Policy in 2009. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio


2011 Sustainability Report


Balance sheet

CASH AND BALANCES WITH CENTRAL BANKS OUR CASH BALANCES AND AMOUNTS HELD AT CENTRAL BANKS

ASSETS HOW WE INVEST OUR MONEY

AMOUNTS DUE FROM BANKS LOANS TO AND DEPOSITS WITH OTHER BANKS

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS INVESTMENTS IN BONDS AND EQUITIES AND DERIVATIVES THAT HELP US MANAGE FINENCIAL RISKS

100

INVESTMENTS INVESTMENTS IN BONDS AND EQUITIES, AMONG OTHERS USED TO COVER OUR TO INSURANCE POLICY HOLDERS

LOANS AND ADVANCES TO COSTUMERS LOANS WE PROVIDE TO OUR CUSTOMERS. FOR EXAMPLE RESIDENTIAL MORTGAGES, BUT ALSO CREDIT FACILITIES FOR GOVERNMENTS AND BUSSINESSES

OTHER ASSETS THIS INCLUDES AMONG OTHERS, INTEREST AND TAXES TO BE RECEIVED

18

Bank Insurance / IIM

P24

P44


Balance sheet

CASH AND BALANCES WITH CENTRAL BANKS OUR CASH BALANCES AND AMOUNTS HELD AT CENTRAL BANKS

AMOUNTS DUE FROM BANKS

EQUITY

LOANS TO AND DEPOSITS WITH OTHER BANKS

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS INVESTMENTS IN BONDS AND EQUITIES AND DERIVATIVES THAT HELP US MANAGE FINENCIAL RISKS

CASH AND BALANCES WITH CENTRAL BANKS OUR CASH BALANCES AND AMOUNTS HELD AT CENTRAL BANKS

AMOUNTS DUE FROM BANKS LOANS TO AND DEPOSITS WITH OTHER BANKS

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS INVESTMENTS IN BONDS AND EQUITIES AND DERIVATIVES THAT HELP US MANAGE FINENCIAL RISKS

INVESTMENTS INVESTMENTS IN BONDS AND EQUITIES, AMONG OTHERS USED TO COVER OUR TO INSURANCE POLICY HOLDERS

LIABILLITIES MONEY ENTRUSTED TO US

LOANS AND ADVANCES TO COSTUMERS LOANS WE PROVIDE TO OUR CUSTOMERS. FOR EXAMPLE RESIDENTIAL MORTGAGES, BUT ALSO CREDIT FACILITIES FOR GOVERNMENTS AND BUSSINESSES

OTHER ASSETS THIS INCLUDES AMONG OTHERS, INTEREST AND TAXES TO BE RECEIVED

AMOUNTS DUE FROM BANKS

100

INVESTMENTS IN BONDS AND EQUITIES, AMONG OTHERS USED TO COVER OUR TO INSURANCE POLICY HOLDERS

2011 Sustainability Report

Bank Insurance / IIM

19


08

Business

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Business

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22

Bank Insurance / IIM


Business

Measuring our business impact Detailed break down •

A s part of our efforts in the community, I am proud to say that the 2009 ‘Global Challenge’, an annual initiative

Featuring employee volunteering and fundraising initiatives for our ING Chances for Children programme, was again a

Resounding success. Our employees collected funds for children and educationrelated projects and we saw a record

Participation of 16% of our global workforce.

Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on the right track. A clear

Example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing

Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on the right track. A clear example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing

2011 Sustainability Report

Bank Insurance / IIM

23


Business

Equator principles It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

24

Bank Insurance / IIM

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond. Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

the right track. A clear example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing demands in society with regard to financial institutions’ finance and investment decisions on controversial weapons. This led to an extension of the scope of our Defence Policy in 2009. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio


Business

It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

2011 Sustainability Report

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond. Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

the right track. A clear example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing demands in society with regard to financial institutions’ finance and investment decisions on controversial weapons. This led to an extension of the scope of our Defence Policy in 2009. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio

Bank Insurance / IIM

25


Business

Equator principles

2011 2011

25

%

36 MLN

68

%

It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond.

2010 2010

72 MLN 2009 2009

47 MLN

2008 2008

Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on 2007 2007

2006 2006

26

Bank Insurance / IIM

59

%

47

%

251 MLN

32

%

84 MLN

38

%

14 MLN


Business

It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

2011 Sustainability Report

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond. Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

the right track. A clear example of this is our Defence Policy. In 2008, we began evaluating the policy to meet the changing demands in society with regard to financial institutions’ finance and investment decisions on controversial weapons. This led to an extension of the scope of our Defence Policy in 2009. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio

Bank Insurance / IIM

27


Business

Equator principles It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

28

Bank Insurance / IIM

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond.

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond.

Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on


Business

It also made us look at our company’s culture, the values we have in place, and how we interact with our stakeholders. In 2009, we launched the refreshed ING Business Principles and started a corresponding employee awareness campaign. Our Principles clearly prescribe the values we pursue in both banking and insurance, and the responsibilities we have towards society and the environment. We have taken a number of initiatives to be more transparent

2011 Sustainability Report

and open for feedback about the way we operate. For example, we have started a series of dialogue sessions on ING’s role in society. My colleagues and I actively engaged in dialogue with customers, social partners, non-governmental organisations, media, policy makers, academia and investors. Together we set the foundation for culture change within ING and we will continue to build on this in 2010 and beyond. Taking our stakeholders’ views into consideration enables us to constantly evaluate if we are on

Bank Insurance / IIM

29


Business

30

Bank Insurance / IIM


Business

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2011 Sustainability Report

Bank Insurance / IIM

31


Business

This progress made a significant difference

Shawn D. Miller Managing Director Environmental and Social Risk Management at Citigroup


Business

We believe they have indeed made a difference. Internally within Citi they helped raise awareness on climate issues generally, and prompted us to integrate climate risk assessment into our lending decisions within the power sector. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio and assessing opportunities. One of our ambitions for 2010 is to stimulate sustainable

2011 Sustainability Report

entrepreneurship and further increase our portfolio of green products and services. As part of our efforts in the community, I am proud to say that the 2009 ‘Global Challenge’, an annual initiative featuring employee volunteering and fundraising initiatives for our ING Chances for Children programme, was again a resounding success. Our employees collected funds for children and education-related projects and we saw a record participation of 16% of our global workforce.

Bank Insurance / IIM

33


infographic

Appetite for Sustainability We believe they have indeed made a difference. Internally within Citi they helped raise awareness on climate issues generally, and prompted us to integrate climate risk assessment into our lending decisions within the power sector. Environmental protection also remains one of our priority areas going forward. To focus greater attention on the financing of, and investment in, sustainable energy, we are evaluating our portfolio and assessing opportunities. One of our ambitions for 2010 is to stimulate sustainable

34

Bank Insurance / IIM

entrepreneurship and further increase our portfolio of green products and services. As part of our efforts in the community, I am proud to say that the 2009 ‘Global Challenge’, an annual initiative featuring employee volunteering and fundraising initiatives for our ING Chances for Children programme, was again a resounding success.

In the last 2 years ING increased its investments to 100% sustainable


28

36 MLN

41 MLN

%

2011

Solar Thermal

25

Solar PV

Offshore Wind

Hydro

Wind

We believe they have indeed made a difference. Internally within Citi they helped raise awareness on climate issues generally

Gas

Coal

Business

46

%

%

67 MLN

68

%

2010

32

%

34 MLN

72 MLN

59

%

2009

18

%

14 MLN

47 MLN

49

47

260 MLN

251 MLN

%

2008

%

68

%

2007

23

%

19 MLN

4

%

18 MLN

32

%

84 MLN

183 MLN

62

%

2006

23 MLN

2011 Sustainability Report

38

%

14 MLN

Bank Insurance / IIM

35


Timeline

1992

1997

Launch of the Global Challenge

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

environment community people business

ING extends the scope of the Defence Policy to include all business activities

1998 1996

1991 1993

Commitment to have more women in senior management positions

Launch of the Global Challenge

ING extends the scope of the Defence Policy to include all business activities

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

1994

Bank Insurance / IIM

Commitm women in

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

In the Ne and the electricity

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2

1995 Commitment to have more women in senior management positions

Launch of the Global Challenge

36

ING signs talent to the top charter commitment to have more women in senior management positions

1999

1978

ING extends the scope of the Defence Policy to include all business activities

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

ING sign charter co more w manag

In the Ne and the electricity


timeline

2002

2007

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

ING signs talent to the top charter commitment to have more women in senior management positions

2001

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2003 2006

ment to have more n senior management positions

etherlands, Belgium e US, 100% of all y purchased is green

2000

ns talent to the top ommitment to have women in senior gement positions

etherlands, Belgium e US, 100% of all y purchased is green

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2004 Commitment to have more women in senior management positions

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2011 Sustainability Report

Commitment to have more women in senior management positions

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2005

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

2008

2011 Sustainability is integrated into the personal accountability and performance objectives of our senior management

ING raises EUR 3.7 million for UNICEF in 2010

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

A sustainable paper policy is developed which calls on all Business Units to engage in paper consumption reduction measures, sustainable paper procurement and / or paper recycling initiatives

2009

2010

Commitment to have more women in senior management positions

ING signs talent to the top charter commitment to have more women in senior management positions

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

In the Netherlands, Belgium and the US, 100% of all electricity purchased is green

Bank Insurance / IIM

37


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enim. Donec pede justo, fringilla vel, aliquet nec,

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23 19 38

%

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tor eu, consequat vitae, eleifend ac, enim. Aliquam

adipiscing elit. Aenean commodo ligula

lorem ante, dapibus in, viverra quis, feugiat a,

eget dolor. Aenean massa. Cum sociis

tellus. Phasellus viverra nulla ut metus varius

natoque penatibus et magnis dis parturi-

laoreet. Quisque rutrum. Aenean imperdiet. Etiam

ent montes, nascetur ridiculus mus. Donec

ultricies nisi vel augue. Curabitur ullamcorper

quam felis, ultricies nec, pellentesque eu,

ultricies nisi. Nam eget dui.

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%

Bank Insurance / IIM

adipiscing elit. Aenean commodo ligula eget dolor. Aenean massa. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Donec quam felis, ultricies nec, pellentesque eu,


Data

SUSTAINABLE ASSETS UNDER MANAGEMENT Amounts in â‚Ź million

2010

2009

ING Groenbank

ING Duurzaam Aandelen Fonds INI Duurzaam Rendement Fonds ING (L) Invest Sustainable Growth ING (B) Invest Solidarity Mixed/Child Focus EUR ING (L) Renta Sustainable Fixed Income Europe Sustainable Mandate Enhanced Core Socially Responsible Equity Common Trust

SUSTAINABLE GLOBAL EQUITY FUNDS MANAGED BY ING INVESTMENT MANAGEMENT

Sustainable global equity funds managed by ING Private Banking Sustainable Portfolios ING Liric SRI Top 50

total excluding sustainable assets externally managed

ING (L) Climate Focus ING Thai Global Water Fund ING Green Focus Fund

THEMATIC FUNDS

total thematic funds

total The sustainable assets under management showed an increase of 5%. More information is available on page 82.

2011 Sustainability Report

Bank Insurance / IIM

39



ING Global Responsability