Dutch bank ING Group NV is facing legal proceedings initiated by non-governmental organisation Milieudefensie, the local branch of Friends of the Earth, which accuses the bank of failing to comply with international climate commitments. The lawsuit, filed in the central register for collective actions in the Netherlands, is based on alleged non-compliance with the Paris Agreement targets and seeks to compel ING to reduce its carbon dioxide emissions by 50% by 2030.
Growing pressure on Dutch banks
Milieudefensie, backed by 30,000 co-claimants, asserts that the financial activities of the Netherlands’ largest bank contribute significantly to global warming. According to the organisation, ING is responsible for more than 260 megatonnes of CO2 emissions, equivalent to one and a half times the country’s annual emissions. This figure includes both the bank’s direct emissions and those generated by the fossil fuel projects it finances.
The lawsuit was filed at the bank’s headquarters in Amsterdam, where around 100 demonstrators had gathered. Under Dutch law, ING is required to formally appear before the register on 16 April. This submission marks the beginning of a procedural phase during which the bank will have time to issue a formal response, before the court sets a hearing date.
A legal precedent in the background
In February, ING stated it was “just as concerned about the climate as Milieudefensie,” while defending its policy alignment with the Paris Agreement. The bank claimed to be one of the first major international financial institutions to commit to the agreement and expressed its willingness to continue dialogue with the organisation, while being prepared to defend its approach in court if necessary.
Milieudefensie’s legal action follows a recent setback in a separate climate lawsuit against Shell plc. In November, the Dutch court overturned an earlier ruling that required Shell to implement stricter emissions reductions, but simultaneously extended the notion of climate responsibility to financial institutions.
Roger Cox, legal counsel for Milieudefensie, noted that this legal interpretation now applies to banks such as ING. The organisation is also calling for an immediate halt to the financing of companies involved in the exploration and development of oil and gas projects.
