Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 122

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 122
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 large subsidiaries on an individual, or where applicable on a sub-consolidated basis. An updated ITS is expected in 2025 to provide further information on the application by institutions that fall under the new scope.
Sustainable Finance Disclosure Regulation
The Sustainable Finance Disclosure Regulation (SFDR) is a European regulation intended to improve financial sector transparency for certain sustainable investment products, via website and pre-contractual disclosures. It also aims to prevent greenwashing and to increase transparency around sustainability claims 

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
made by financial sector participants. The SFDR imposes sustainability disclosure requirements on certain financial actors who are offering certain type of financial products or investment advice in the EU covering a broad range of environmental, social and governance (ESG) metrics at both entity- and product-level. Subsidiaries of ING Groep N.V. in the European Union are, or may be, subject to the SFDR through certain products or services they provide. The SFDR came into effect on 10 March 2021, with certain disclosure requirements being in effect at a later stage.
SEC Climate-Related Disclosures
On March 6, 2024, the SEC adopted final rules that require registrants to disclose certain climate-related information in registration statements and annual reports. The final rules require, among other things, disclosure of material climate-related risks and their material impacts; activities to mitigate or adapt to such risks; information about the registrant's board of directors' oversight of climate-related risks and management’s role in managing material climate-related risks; and information on any climate-related targets or goals that are material to the registrant's business, results of operations, or financial condition. In addition, the final rules require disclosure of Scope 1 and/or Scope 2 greenhouse gas (GHG) emissions by certain larger registrants when those emissions are material and the filing of an attestation report covering the required disclosure of such registrants’ Scope 1 and/or Scope 2 emissions, each on a phased-in basis. Further, where applicable, the final rules also require certain disaggregated financial information relating to carbon offsets and renewable energy credits or certificates and the financial impacts of certain weather events and other natural conditions to be disclosed in the notes to the registrant’s financial statements. 
Subsequent to its adoption, the SEC has stayed the rule due to a judicial review by the U.S. Court of Appeals for the Eighth Circuit,