Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 70

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 70
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 to meet minimum standards for sustainable financing, or have a transition plan in place. For the existing lending book, there is a proactive approach towards our clients in case of non-sustainable assets to enter into a transition plan, which needs to be cost- and carbon efficient and allow adjustments based on available technology and regulatory developments.
In terms of stakeholder advocacy, we will continue working with external stakeholders on projects like standardisation of ESG data for the Real Estate sector, valuation standards in light of climate-related transitional risks or alignment in decarbonisation legislation.
Residential real estate 
Residential real estate, also referred to as residential mortgages, is a substantial part of ING's lending portfolio and is a relevant contributor to our financed emissions. As a bank, ING can reduce the CO2e intensity of our portfolio by incentivising new customers to choose higher efficiency homes, and by enabling existing customers to renovate their homes.
Next to homeowners and banks, many stakeholders play a role in reducing emissions in this sector. For example, reaching net-zero milestones largely depends on the national energy mix of countries where the homes are located. This requires governments and institutions to accelerate the installation of renewable electricity capacity and shift away from fossil fuels. Governments also play a crucial role in mandating, incentivising, and supporting homeowners to prioritise sustainability in home construction and renovation. We hope to see governments take their role further in this regard by setting ambitious National Renovation Plans under the Energy Performance of Buildings Directive IV (EPBD IV). We aim to continue working with all stakeholders to address this common challenge. 

The key highlights of our action plan for residential real estate
We continued to finance our customers’ transition. In 2024, we offered sustainable mortgages which provide an incentive to customers choosing energy-efficient homes in Belgium, Germany, the Netherlands, Poland, Spain, as well as in other markets like Romania and Italy. We also offer mortgages features or unsecured loans that support customers to renovate in Belgium, Germany, the Netherlands, Poland, Australia, and Romania.
In several markets, including Belgium, Germany, and the Netherlands we have continued to offer digital tools that support customers to understand their renovation options. In the Netherlands we launched ING Upgrader, which starts with a digital tool that gives customers easy and non-binding insight into the possibilities for sustainability and a cost benefit estimate. Customers can pursue those renovations with our Upgrader service, that connects them to providers who can provide advice and installation.
Policies, actions and performance
With our sector transition plan we