Difference between revisions of "ING Group"
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''' | '''ING Group N.V.''', stylized as '''Internationale Nederlanden Group''', was founded in 1991 by merger of the Dutch insurer Nationale-Nederlanden and national postal bank NMB Postbank (ING Group, 2021). ING Group is active in the financial sector with products like savings, payments, investments, loans and mortgages as well as wholesale banking (ING Group, 2021). ING serves over 39.3 million individual customers as well as small and medium-sized businesses up to multinational corporations and financial institutions. ING is active in more than 40 countries (ING Group, 2021, p. 43). In the retail market, ING is market leader in the Netherlands, Belgium and Luxembourg and a challenger in the German market (ING Group, 2021, pp. 60-63). ING total portfolio amounts to 887,5 billion euro’s outstandings (ING Group, 2021, p. 107). ING recorded a net result of 2,5 billion euro’s in 2020, which was a 48% decline in comparison to 2019 (ING Group, 2021, p. 6). ING is headquartered in Amsterdam, the Netherlands (ING Group, 2021). According to the Financial Stability Board and the Nederlandse Bank, ING is both nationally as well as internationally a systembank and will therefore be backed by the State in case of problems. Systembanks are deemed essential for international monetary stability (Financieel Info.nu, 2020). | ||
The balance value of ING Group in 2020 was 937,3 million. In 2019 this was 891,7 million (ING Group, 2021, p. 5). ING is a public company with shares listed at the Brussels, Amsterdam and New York Exchange (ING Group, 2021, p. 9). | |||
== Company Structure == | == Company Structure == | ||
Share capital of ING Group consists of ordinary shares and cumulative preference shares. Currently, only ordinary shared are issued. Each share gives right to one vote. Only investor group BlackRock Inc. holds more than 3 percent of shares in ING group (ING Group, 2021, p. 8). ING’s shares are listed at the Amsterdam, Brussels and New York stock exchange. Geographically, most outstanding shares are American-owned (40 percent) with the UK following (18 percent) (ING Group, 2021, p. 9). | |||
ING is headquartered in Amsterdam. ING is historically a Dutch company and therefore resides in the Netherlands. | |||
ING knows 11 principal subisidiaries and one joint venture. In most countries ING is active, the local activities are carried out by a branch of the main subsidiary, ING Bank N.V. (ING Group, 2021, p. 274). | |||
=== Board of Directors === | === Board of Directors === | ||
ING has a two-tier board structure. The executive board and management Board Banking is resposible for day-to-day business and long term strategy and the Supervisory Board is responsible for controlling management performance and advises and challenges the Management Board (ING Group, 2021, p. 78). The executive board exists of Steven van Rijswijk (CEO) and Tanate Phutrakul (CFO). Together they made 3,52 million euro’s in 2020 (ING Group, 2021, p. 234). This is due to the CEO handover in the middle of the year. The previous CEO amounted to 1,7 million in this first half year of 2020, totalling the remuneration of the executive board in 2020 to 4,42 million. As the first half year of 2020, Steven van Rijswijk’s function was not in the executive board, part of his salary is deducted from the total sum of executive board grants (ING Group, 2021, p. 234). | |||
The management Board Banking exists out of Pinar Abay, Aris Bogdaneris, Roel Louwhoff and Isabel Fernandez (ING Group, 2021, p. 78). The supervisory board exists of Hans Wijers, Mike Rees, Jan-Peter Balkenende, Juan Colombás, Mariana Gheorghe, Margarete Haase, Herman Hulst, Harold Naus and Herna Verhagen (ING Group, 2021, p. 79). The remuneration of the supervisory board amounted to 940 thousand euro’s in 2020. These numbers exclude the stocks granted to the board and supervisory board (ING Group, 2021, p. 239). | |||
=== Accountant === | === Accountant === | ||
Revision as of 17:06, 3 January 2022
| ING Group N.V. | |
|---|---|
| File:Bijdrijfs Logo.svg | |
| Quick Facts | |
| Type | Public, shares listed on Brussels, Amsterdam and New York Stock Exchange |
| sector | Finance |
| Headquarters (Benelux Organization) | Amsterdam, Netherlands |
| Year of Origin | 1991 |
| Emissions (All Scopes) | Unknown |
| Net Income | 2,5 billion EUR (2020) |
| Key People | Steven van Rijswijk (CEO), Tanate Phutrakul (CFO) |
| Subsidiaries |
|
ING Group N.V., stylized as Internationale Nederlanden Group, was founded in 1991 by merger of the Dutch insurer Nationale-Nederlanden and national postal bank NMB Postbank (ING Group, 2021). ING Group is active in the financial sector with products like savings, payments, investments, loans and mortgages as well as wholesale banking (ING Group, 2021). ING serves over 39.3 million individual customers as well as small and medium-sized businesses up to multinational corporations and financial institutions. ING is active in more than 40 countries (ING Group, 2021, p. 43). In the retail market, ING is market leader in the Netherlands, Belgium and Luxembourg and a challenger in the German market (ING Group, 2021, pp. 60-63). ING total portfolio amounts to 887,5 billion euro’s outstandings (ING Group, 2021, p. 107). ING recorded a net result of 2,5 billion euro’s in 2020, which was a 48% decline in comparison to 2019 (ING Group, 2021, p. 6). ING is headquartered in Amsterdam, the Netherlands (ING Group, 2021). According to the Financial Stability Board and the Nederlandse Bank, ING is both nationally as well as internationally a systembank and will therefore be backed by the State in case of problems. Systembanks are deemed essential for international monetary stability (Financieel Info.nu, 2020).
The balance value of ING Group in 2020 was 937,3 million. In 2019 this was 891,7 million (ING Group, 2021, p. 5). ING is a public company with shares listed at the Brussels, Amsterdam and New York Exchange (ING Group, 2021, p. 9).
Company Structure
Share capital of ING Group consists of ordinary shares and cumulative preference shares. Currently, only ordinary shared are issued. Each share gives right to one vote. Only investor group BlackRock Inc. holds more than 3 percent of shares in ING group (ING Group, 2021, p. 8). ING’s shares are listed at the Amsterdam, Brussels and New York stock exchange. Geographically, most outstanding shares are American-owned (40 percent) with the UK following (18 percent) (ING Group, 2021, p. 9).
ING is headquartered in Amsterdam. ING is historically a Dutch company and therefore resides in the Netherlands.
ING knows 11 principal subisidiaries and one joint venture. In most countries ING is active, the local activities are carried out by a branch of the main subsidiary, ING Bank N.V. (ING Group, 2021, p. 274).
Board of Directors
ING has a two-tier board structure. The executive board and management Board Banking is resposible for day-to-day business and long term strategy and the Supervisory Board is responsible for controlling management performance and advises and challenges the Management Board (ING Group, 2021, p. 78). The executive board exists of Steven van Rijswijk (CEO) and Tanate Phutrakul (CFO). Together they made 3,52 million euro’s in 2020 (ING Group, 2021, p. 234). This is due to the CEO handover in the middle of the year. The previous CEO amounted to 1,7 million in this first half year of 2020, totalling the remuneration of the executive board in 2020 to 4,42 million. As the first half year of 2020, Steven van Rijswijk’s function was not in the executive board, part of his salary is deducted from the total sum of executive board grants (ING Group, 2021, p. 234). The management Board Banking exists out of Pinar Abay, Aris Bogdaneris, Roel Louwhoff and Isabel Fernandez (ING Group, 2021, p. 78). The supervisory board exists of Hans Wijers, Mike Rees, Jan-Peter Balkenende, Juan Colombás, Mariana Gheorghe, Margarete Haase, Herman Hulst, Harold Naus and Herna Verhagen (ING Group, 2021, p. 79). The remuneration of the supervisory board amounted to 940 thousand euro’s in 2020. These numbers exclude the stocks granted to the board and supervisory board (ING Group, 2021, p. 239).
Accountant
Accountant van het bedrijf
Operations
uitgebreidere beschrijving van het bedrijf en wat ze doen en of ze koninklijk zijn en NOW steun
Paris Agreement to Today
beschrijving van wat het bedrijf heet gedaan en misdaan sinds het akkoord van Parijs
Current Policies and Emissions
Beschrijving van de uitstoot van het bedrijf en eventuele beleid
Climate Plans
Beschrijving van de klimaatplannen van het bedrijf
Conclusion
Beschrijving of de plannen in lijn zijn met 'Parijs'
Bedrijfsspecifieke Passage in 'de brief'
U heeft uw duurzaamheidsbeleid vastgelegd in het jaarverslag over 2020 en het Terra Progress Report.
Wij constateren dat u doelen stelt voor negen sectoren, welke in totaal slechts 25% van uw uitstaande portfolio beslaan. In één sector ligt het gekozen traject binnen het 2 graden scenario. In twee sectoren is het gekozen traject in lijn met 2 graden scenario, maar zijn de doelen voor 2050 onvoldoende of onvolledig. In vier sectoren zijn geen heldere reductiedoelen gesteld. In twee sectoren ligt het gekozen traject tot 2050 buiten het 2 graden scenario. Het is duidelijk dat u daarmee niet binnen een gezond pad van anderhalve graden blijft en tevens niet voldoende transparant bent.
Wij constateren dat de scope van uw doelstellingen te beperkt is, en de doelstellingen niet de volledige waardeketen omvatten. Daarnaast constateren wij dat u uw eigen verantwoordelijkheid negeert door te sterke afhankelijkheid van overheidsbeleid te claimen bij het verantwoorden van het gebrek aan doelen.
De bestaande doelen zijn duidelijk beschreven in uw plannen. Zij zijn echter volstrekt onvoldoende en niet representatief voor uw gehele portfolio. Dat is een grote tekortkoming en doet afbreuk aan de geloofwaardigheid van uw klimaatbeleid.
Daarmee draagt uw bedrijf bij aan gevaarlijke klimaatverandering en loopt u het materiële risico om mensenrechtenschendingen te veroorzaken.