Western Europe country category winners 2023: Best bank for ESG in Germany: ING
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Western Europe country category winners 2023: Best bank for ESG in Germany: ING

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ING Bank’s commitment to sustainable and responsible banking in Germany makes the best bank for environmental, social and governance in the country this year.

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In May 2022, ING launched a pilot project to embed ESG criteria into financial markets pricing – the first bank to do so. This innovative approach factors in the ESG performance of corporate customers alongside traditional credit ratings and profitability ratios, setting a new industry standard for responsible finance.

The bank has also demonstrated solid growth in sustainable financing, participating in 55 deals in Germany in 2022, marking a 175% increase over the previous year. The bank led in 24, a 60% increase from 2021. These transactions mobilised €20.8 billion of funds, a 97% increase on the year before.

The bank's Schuldschein desk was involved in 18 transactions in 2022, totalling €4.9 billion in value. In total, 72%, or €3.864 billion worth, were green- or ESG-linked, exceeding the market average.

In the German investment-grade corporate bond market, it played a key role in 31 issues, underwriting a total of €3.5 billion. Close to 52% were ESG-linked. The bank also demonstrated leadership in green and social bonds, working on 15 issues, worth a total of €1.9 billion.