New SOMO report on ING highlights corporate social responsibility issues
SOMO has looked into ING’s holdings of controversial companies and its lobby on financial reform. SOMO concludes amongst others that ING can and should do more to stop its shareholdings in companies involved in the production of cluster ammunition and landmines.
Also the lack of information about ING’s lobby efforts is addressed. Here ING has indicated to SOMO that it will increase the transparency with regard to their activities in the field of financial policy and supervision, for example regarding their contacts with policymakers. A section on the website www.ingforsomethingbetter.com(opens in new window) will be dedicated to this.
On ING’s AGM on Monday 14 May it will become clear in reaction to questions asked by VBDO whether ING wants to take up the other recommendations, like to look for remedies of the current unequal access to information in financial policy making and to create ‘clean’ index funds that exclude companies involved in the production of cluster ammunition and landmines, just as large institutional investors like Blackrock and Storebrand have been doing for years.
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