At RI DigiFest last month, the question of how financial organisations can help create Paris-aligned economies, rather than just Paris-aligned portfolios, became a central part of discussions.
It’s an important nuance, which is rarely meaningfully addressed. But ING, the largest bank in the Netherlands, says it wants to understand how it can contribute to climate change mitigation, rather than how climate change will impact its business.
Leonie Schreve started as the Managing Director and Global Head of Sustainable Finance at ING in 2012, when the bank became one of the first mainstream players to integrate sustainability into its commercial strategy, she says.
Aligning industries with Paris
Building on this, two years ago ING announced that its €600bn lending portfolio would be steered towards the Paris Agreement by creating an accurate way to measure 2℃-alignment. Dubbed the ‘Terra’ approach, ING has teamed up with other banks and fina…