Sustainability vision and strategy
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2. Sustainability vision and strategy 2.1 Sustainability at ING What sustainability means to ING
Financial services are the lifeblood of a healthy economy. ING’s role in society as a bank, insurer and wealth manager is to facilitate financial activity and stimulate economic development. The ultimate benefit of a thriving economy is to catalyse social progress and, consequently, a better quality of life for people. A stable society in which everyone has access to financial opportunity and the financial system is a prerequisite for a sustainable economic system. We are steadfast in our purpose and role in society; however, the context we exist in is dynamic and evolves continuously. Circumstances and expectations change, asking for refined definitions of value and progress, or different ways of doing business. This requires resilience: the capacity to not only deal with adversity in challenging times, but to seize opportunities too. It also means ensuring our short-term and long-term success for the benefit of our customers and society as a whole. To be an enduring business, we need an active and evolving approach towards sustainability. This starts with developing a vision of the future, translating this into business strategy and executing on it. Responsible and proactive decision-making on how, where and with whom we do business is essential in this process, as is being transparent about it. Therefore, sustainability to us is more a journey than a destination – a continuous process in which changing circumstances are a given, and the expectations, beliefs, values and demands of our stakeholders are of pivotal importance in setting a direction for both today and tomorrow. We will be successful only if we create value both inside and outside our company. How we incorporate sustainability at ING
Our basis for action is excellence in providing high-quality financial products and services to our customers. We take a stand on ethical, social and environmental issues, promote sustainable finance and aim to mitigate the harm that might result from our activities. We believe responsibility also means using our resources, expertise and sphere of influence to promote positive change and make a difference in communities. The ING Business Principles set the tone for how we conduct our activities, and they are mandatory for all ING employees. Our positions on key social and environmental issues are in line with international standards, such as the Universal Declaration of Human Rights and the principles of the UN Global Compact.
Based on our Business Principles, we have developed and implemented a clear Environmental and Social Risk (ESR) Framework throughout our operations to avoid or minimise involvement in illegal, harmful or unethical practices. This framework enables us to make an assessment of the potential environmental or social impact of our clients. The feedback as a result of the assessment can help our clients improve their own sustainability performance. Crucially, we integrate environmental and social responsibility into our daily business practice by offering options of sustainable products and services to our clients. Also, conscious of our role and responsibilities, we invest in community development initiatives that promote (financial) education and entrepreneurship. We believe that investing in children, and in particular in their education, is one of the most important ways to invest in tomorrow’s economy. ING for Something Better
Something better means something greater in excellence or higher in quality. It also means something more useful, suitable, favourable or healthy. For us, it comes down to improved performance: striving to be an even better company tomorrow than we are today. We aim to achieve this by offering simple, transparent products that are easy to access and fairly priced, thus facilitating a better customer experience. And by continuously embedding environmental, social and ethical considerations in our core activities, we want to build a better business. By supporting and engaging our employees, and helping them develop professionally and personally, we create a better workplace. We seek to limit our consumption of the finite resources of the planet in our business operations and have a better environmental footprint. We invest in tomorrow’s economy by supporting people, especially children, towards a more financially secure and independent future in order to help build better communities. The structure of this Report is based on the ‘for something better’ concept. In 2009, we launched ‘ING for Something Better’, an initiative that brings together our internal social and environmental initiatives into one format. The online platform of ING for Something Better (www.ingforsomethingbetter.com ) provides information about our policies, performance and reporting efforts. It also gives ING employees an opportunity to share best practices, find volunteering work, or donate money to good causes. We bundled part of our community investment activities in the ING for Something Better Foundation.
ING Group Sustainability Report 2012
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