ING to fund €100mn into Sustainable Investments
ING Group, the Dutch banking and finance firm, has announced the launch of Sustainable Investments.
The company has committed €100mn (US$122.4mn) of capital into the initiative, that aims to support ‘scale-ups’.
Sustainable Investments will use a buy and build strategy to support sustainable opportunities with innovative business models, initially with the Benelux region.
The opportunities will also have a successful track record that will allow ING to aid their organic expansion.
The project is part of the firm’s wider strategy for sustainability, aiming to catalyse and accelerate sustainable businesses.
ING are particularly focusing on businesses in areas of energy transitions, circular economy, and water.
IFC puts together $188mn finance package for Jordan's largest photovoltaic power plant
To diversify the firm’s portfolio, the total capital will be invested over a period of three years.
“Sustainability has become a strategic priority and board room topic for many of our clients,” said Mark Weustink, Director within ING’s Corporate Investment Team, and Leader and Manager of Sustainable Investments.
“Our commitment of risk-bearing capital, ranging from junior debt to ordinary equity, enables ING to fill a client need and add to our overall sustainable finance strategy.”
“This step enables ING to support our clients who are proactively making changes in their business models to adapt to a more sustainable and energy-friendly way for the future, and further support them throughout their journey.”
“We are very keen to make this initiative a success for our clients and will thoroughly review every opportunity we receive.”