Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 61

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 61
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 to play our part in the low-carbon transition that’s necessary to achieve a sustainable future. We aim to steer the most carbon-intensive parts of our portfolio towards meeting global climate goals and working with clients to achieve their own sustainability goals.
Our ambition is to help accelerate the transition – because it matters to us as a bank, to our clients and to society. Our activities are focused on the areas where we believe we can make the greatest impact. For more information on our strategy, see ‘Sustainability at the heart’.
Approach to the transition plan 
With the Terra approach, ING measures the emission intensities of clients active in the most carbon-intensive sectors, except for upstream oil & gas which we steer on financial exposures. This information helps us to benchmark our clients’ activities against the relevant decarbonisation scenarios per sector. In addition, we 

started collecting information from Client Transition Plan (CTP) assessments in our Wholesale Banking portfolio. This increase in data availability will support us in gathering additional insights for the sector-based transition plans and enable us to engage more effectively with clients in strategic discussions about their transition strategies and identifying opportunities to support them with tailored advice, financing and investments solutions. 
By engaging with our clients using this information, we steer our lending portfolio and support them in their transition, helping them to drive down the emissions caused by their business activities and financing the change that is needed. Additionally, by measuring the absolute financed emissions, where data is available, we perform hotspot analyses to monitor the ultimate impact of our lending book, identifying risks and opportunities, and defining next steps for expanding the scope of our Terra approach. 
As each sector is unique, so is our approach and the way we steer these sectors. To sharpen our sector-specific strategies and approach to the net-zero targets, we have developed sector transition plans. These plans align with the recommendations from the Glasgow Financial Alliance for Net Zero (GFANZ) Transition Plan Framework and fulfill our Net Zero Banking Alliance (NZBA) commitment to be published within 12 months of setting net-zero targets for a sector.
In the next section on ‘Our Terra approach’, we describe the developments of the sectors for which we developed transition plans, along with the challenges we observe and the actions we advocate for from other stakeholders, to transition to a low-carbon economy. Currently we have transition plans in place for 10 sectors, where the plan for residential real estate is under refinement, while for aluminium and dairy the transition plans are under development.
Our commitment to net zero and our transition planning were approved