Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 119

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 4
Chunk 119
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 that sustainability information is reported in the companies’ management report in a carefully articulated manner and is based on the following reporting structure:
1.Governance: the governance processes, controls and procedures used to monitor and manage impacts, risks and opportunities 
2.Strategy: how the undertaking’s strategy and business model(s) interact with its material impacts, risks and opportunities, including the strategy for addressing them 
3.Impact, risk and opportunity management: the process(es) by which impacts, risks and opportunities are identified, assessed and managed through policies and actions 
4.Metrics and targets: how the undertaking measures its performance, including progress toward the targets it has set
The first set of standards only includes the cross-cutting and sector-agnostic standards. Sector-specific and SME-proportionate standards are in the process of being developed and will be submitted for a separate public consultation, however the Commission has announced a delay in the implementation. 
The cross-cutting standards consist of:
•ESRS 1 which prescribes the mandatory concepts and principles to be applied when preparing sustainability statements under the CSRD.
•ESRS 2 is on general, strategy, governance, and materiality assessment disclosure requirements. 
The topical standards consist of:
•Environment topical standards (ESRS E1–E5) outline disclosure requirements for companies to report on matters related to climate change, pollution, water and marine resources, biodiversity and ecosystems, and resource use and circular economy.
•Social topical standards (ESRS S1–S4) provide a framework for entities to report on topics related to their own workforce, the workers in their value chains, the communities impacted by their operations and the consumers and end-users of their products or services.
•Governance topical standards (ESRS G1–G2) set out disclosure requirements that seek to enhance users’ understanding of a company’s governance structure, its internal control and risk management system, the company’s strategy and approach, and the processes, procedures and performance in relation to their business conduct.

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
EU Taxonomy
The EU Taxonomy Regulation (EU Taxonomy), published in the Official Journal of the EU in 2020, is a classification system, establishing a list of ‘environmentally sustainable’ economic activities and introducing reporting requirements. The EU Taxonomy provides companies, investors and policymakers with appropriate definitions for which economic activities can be considered ‘environmentally sustainable’ and can be reported