In March 2025, ING became the first global systemically important bank to have its climate targets validated by the Science Based Targets initiative (SBTi) as aligning with the 1.5°C ambition of the Paris Agreement. This validation encompasses ING’s goals to reduce financed emissions across its client portfolios and own operations, assessed against SBTi’s Financial Institutions Near-term Criteria. The bank’s sector-specific targets cover key carbon-intensive industries, including power generation, cement, steel, automotive, aviation, and commercial real estate, which collectively account for 67% of ING’s total financed emissions.

ING’s validated targets also reflect its commitment to stringent fossil fuel policies. These include ending all financing to pure-play upstream oil and gas companies that continue to develop new fields, ceasing financing for new thermal coal-fired power plants and mines, and phasing out lending to individual coal-fired power plants by the end of 2025. The bank aims to align its upstream oil and gas portfolio with the Net Zero Emissions scenario for advanced economies as outlined by the International Energy Agency (IEA).