Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 67

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 67
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The key highlights of our action plan for steel
We restrict dedicated liquid or crude steel project and asset financing for clients to net-zero-ready retrofits of existing steel mills and net-zero-ready new steel mills. We also engage frequently with existing steelmakers, new entrants and projects on their plans, in order to stay up to date with the latest technological developments and finance projects that we deem impactful. We steer our portfolio towards net zero by seeking prospective new clients that are developing net zero-ready steel mills, and when making commercial decisions, we take into account the emissions intensity of steel producers and whether they have a credible transition plan in place.
In terms of stakeholder advocacy, we actively engage with the European Commission at senior levels on measures that would facilitate a faster transition of the European steel industry.

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
Automotive
For the automotive industry to decarbonise, there is a need to continue to stimulate the shift to electric vehicles (EVs), by setting norms and phasing out internal combustion engine vehicles (ICEs), with the aim to gain scale in EV production, stimulate product range development, and reduce the relative total cost of ownership of EV. Furthermore, more investments are required in the accelerated roll-out of EV-related (charging) infrastructure, shifting subsidies from fossil fuels to renewable power, establishing localised battery value chains and promoting circular practices to secure resources in the long term. From a wider value chain perspective, it is important to enforce EV battery recycling and hold both manufacturers and mining companies accountable for decarbonising their production processes.
The key highlights of our action plan for automotive
We finance the transition of our clients by offering dedicated products and services, like our sustainability-linked loans, bonds, supply-chain financing, green loans, green bonds, and (for Germany only) financial market instruments. We also continue supporting companies in the value chain, and create internal commercial incentives to support the development of critical parts in the value chain, such as traction batteries, EV charging infrastructure, increasing circularity in the sector, etc. In addition, in seeking new business, we focus on prospective new clients which already have a high degree of electrification and/or an ambitious transition plan to grow their electric vehicle (EV) production.
In terms of stakeholder advocacy, we continue to monitor the development of green policies, recycling and waste treatment, and advocate for setting more standards and data disclosure requirements.
Aviation
For the aviation industry to