ING Group

The Netherlands
Banks, Diversified Financials

Risk Level:

Rating - Danger
High Risk

Summary:

ING is an international banking and financial group. ING spun its U.S. insurance operations out into Voya Financial in 2014. ING factors ESG into its business practices and, as a result, has cut ties with companies in the oil and gas industry. The company discriminates against religious organizations in it employee donation matching. ING has not only signed the Declaration of Amsterdam, but has also founded an LGBTQ organization that rates LGBTQ standards in the workplace. For these reasons, ING receives a High Risk rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

ING integrates ESG into all of its business practices (1)(2). The company is decreasing financing to the oil and gas industry in the name of climate change but are increasing financing for renewables (3).

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

ING will not match employee donations to organizations that “primarily (promote) religious purpose” or “(deliver) social services with prayer” (1).

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

ING has a written policy to protect its employees from viewpoint discrimination (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

ING signed the Declaration of Amsterdam statement that dictates LGBTQ workplace inclusion (1). ING also founded Workplace Pride, which scores companies on their LGBTQ standards (1). ING integrates ESG into all of its business practices (2).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

There are no publicly known cases of ING donating to ideological groups hostile to freedom of expression (1).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
N/A
Rationale

ING does not operate a PAC or publicly disclose political contributions.

All links were last accessed and all information was updated on:
May 9, 2023

Company reports are intended for educational use only. Full Disclaimer

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