Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 60

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 60
---
 New solutions offered by rapidly evolving incumbents, challengers and new entrants, especially with respect to payment services and products, have disrupted the financial services sector and led to the emergence of disintermediation.
In this competitive landscape, where banking products and services have mostly become commodified, the main differentiator is being able to provide superior value for customers. For Retail Banking, delivering superior customer value means making banking simple and expertise accessible, offering the right products, at the right time, in the right way. Businesses too want to benefit from gains in speed, transparency, security and efficiency created by technologies such as blockchain and artificial intelligence. Winners will be those with a strong trusted brand and a superior digital experience, taking the effort out of managing finances and offering personalised, real-time advice, products and services for all financial needs.
Statements regarding ING’s competitive position reflect the assessment of ING’s management about the general competitive landscape in which ING operates.

Environment - Climate change
Our climate is changing due to the release of greenhouse gas (GHG) emissions into the atmosphere. Our climate action activities are focused on the three areas where we believe we can make the greatest impact: helping to drive down emissions to meet the global goal of net zero by 2050; building up the financing of the new technologies and sustainable systems of the future; and finding ways to enable people to play their part in the transition. For ING, climate adaptation is essential to reduce vulnerability against the physical impact of climate change. We work on reducing those risks by financing the required adaptation of our clients and communities. 
Climate change mitigation 
Climate change mitigation refers to the process of reducing GHG emissions and holding the increase in the global average temperature to 1.5 °C above pre-industrial levels, in line with the ambition of the Paris Agreement.
Climate change adaptation 
Climate change adaptation refers to the process of adjusting to actual and anticipated climate change and its impacts. It is intrinsically linked to physical risk, as it involves implementing strategies to manage and mitigate the effects of climate-related physical events.

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
<{self.tag} alt="{self.alt}" src="{self.src}">Our transition plan
At ING, putting sustainability at the heart of what we do is one of the core pillars of our strategy. Climate change is one of the world's biggest challenges, threatening societies as we know them today. We want