https://www.business-humanrights.org/en/latest-news/netherlands-ing-sued...
An environmental non-profit has filed a lawsuit against ING Groep NV, alleging that the biggest bank in the Netherlands has failed to conduct its business in a way that adequately takes climate change into account...
A spokesperson for the Dutch bank confirmed receipt of the filing.
The suit, brought by the Dutch branch of Friends of the Earth, known as Milieudefensie, follows a similar case in France against BNP Paribas SA. Both banks have stepped up their restrictions on financing fossil fuels in recent years, and are some of the most active in the provision of sustainable finance.
The non-profit warned last year that it was planning to file the suit, and ING has long been aware the case was coming. In an interview on Thursday, ING’s head of business ethics, Arnaud Stuart Cohen, said the demands put forward by Milieudefensie are “unrealistic and unreasonable.”...
In its suit filed on Friday, Milieudefensie made the following demands:
That ING halve its total emissions in 2030 versus 2019, and continue reducing emissions in the years thereafter in line with science.
That ING reduce its emissions in all polluting sectors that the bank finances, including steel and cement.
That ING stop financing companies that are developing new oil and gas projects.
That ING ask all large companies that it finances to provide a credible climate plan.
