Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 211

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 16B
Chunk 211
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Item 16B. Code of Ethics
Orange code and the global Code of Conduct
Building on the values and behaviours of our Orange Code, the ING Global Code of Conduct outlines the 10 conduct principles expected from all of us. The principles aim to prevent and protect us from making unethical and/or illegal decisions within ING's day-to-day business. Prevention of bribery & corruption (AB&C), and whistleblowing (speak up), are among those 10 core principles and have their own policy.
When ING employees go through the onboarding process, they are required to take an e-learning and commit to adhere to the Global Code of Conduct. Also, every year, all ING employees must acknowledge their adherence to the Global Code of Conduct. We monitor this acknowledgement via the compliance risk dashboard. 
The global Code of Conduct was updated in Q4 2024. A mandatory global required learning will be launched in Q1 2025, accompanied by email communications and a newsletter announcement.
The ING Code of ethics are the ING Orange Code and the ING Global Code of Conduct and no waivers have been granted for either of them. 

The Orange Code applies to all employees worldwide, including the principal executive, financial and accounting officers. The values and behaviours of the Orange Code are available on the ING website at https://www.ing.jobs/global/careers/why-join/our-orange-code.htm.
In 2024, there were no amendments to the Orange Code. ING did not grant any waivers (including implicit waivers) under the Orange Code to the principal executive, financial or accounting officers in 2024. 
Orange Code Decision Making
Balancing the rights and interests of our stakeholders is one of the key Orange Code principles. To further enhance risk judgement, we continued to apply the Orange Code decision-making model to dilemmas. This four-step model supports well-balanced and informed decision-making.
In 2024, the focus was on supporting decision-making and advisory bodies at ING – dealing with e.g., environmental and social risk, product approval and review processes, data ethics and model validation – in organising dilemma dialogues as part of their decision-making process. 
Conflicts of Interest 
ING, being a large financial institution, is prone to multiple conflicts of interest, due to overlapping interests of different stakeholders as businesses, employees, customers, shareholders, and society. In 2024, we updated the global conflicts of interest policy, including the related framework document, coming into effect in May 2025