ING issues ESG-linked interest rate swap
Dutch bank takes carrot-and-stick approach on interest rate swap for oil and gas equipment firm
In 2017, ING issued the world’s first sustainability-linked loan. This month, it went a step further, putting together the world’s first sustainability-linked interest rate swap, where the rate the client pays goes up or down in line with its environmental, social and governance (ESG) performance.
“The concept itself is a very simple, yet very powerful approach to helping clients make conscious efforts to reach sustainability targets,” says Leonie Schreve, ING’s global head of sustainable
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