Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 123

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 123
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 following a claim initiated by petitioners, including the US Chamber of Commerce, on the legality of the rules. In its original timelines, the rule would become effective in 2024 and ING would be required to comply with certain parts of the rules on a phased-in basis beginning with the 2025 financial year. However at this stage, it is unclear whether and when these disclosure requirements will be applicable.
California Climate Disclosure Bills
California has enacted climate disclosure laws (SB 253 & SB 261) which require companies that has business activities in California and meet certain revenue thresholds to provide; (1) annual greenhouse gas (GHG) emissions reporting in accordance with the GHG Protocol in 2026 for fiscal year 2025; and (2) biennial climate-related financial risk reporting in line with the recommendations of the Task Force on Climate-Related Disclosures (TCFD) or with another framework that is consistent with the recommendations by the beginning of 2026. There are phased in requirements in relation to GHG emissions reporting where scope 3 emissions are only to be disclosed in 2027. In addition, scope 1 and scope 2 emissions are subject to limited assurance in 2026 and to reasonable assurance in 2030; whereas scope 3 emissions are subject to limited assurance only in 2030. Authorities will issue further guidance in relation to implementation of disclosure laws. In the meantime ING is assessing the applicability of these laws to its US operations and whether consolidated Group reporting would ensure compliance with these laws.

Additional information regarding regulatory developments
For additional information regarding regulatory developments, see also this Form 20-F 2024, under “Additional Information – ING Group Risk Management- Environmental, social and governance Risk”.
For a description of our segments including a breakdown of total revenues by category for the last three financial years, refer to "Item 5. Operating and financial review and prospects - Segment reporting”.
C. Organisational structure
ING Groep N.V., a publicly-listed company, is the parent of one main legal entity: ING Bank N.V. (ING Bank). ING Bank is the parent company of various Dutch and foreign banking and other subsidiaries. 
Reference is made to Exhibit 8 “List of subsidiaries of ING Groep N.V.” for a list of principal subsidiaries of ING Groep. N.V. For the majority of ING’s principal subsidiaries, ING Groep N.V. has control because it either directly or indirectly owns more than half